First Au Pleased with Gimlet Gold Project Drilling

THE DRILL SERGEANT: First Au (ASX: FAU) declared “outstanding” assay results from recent drilling undertaken at the company’s Gimlet project near Kalgoorlie in Western Australia.

First Au claimed the drilling had achieved the best intersection the company had encountered to date at the project.

Assay results from the March diamond drilling program include:

32 metres at 4.9 grams per tonne gold from 93m, including 1m at 20.2g/t gold from 93m and 1m at 40.3g/t gold from 122m; and

23m at 1.73g/t gold from 83m, including 2m at 5g/t gold from 98m and 3m at 5.9g/t gold 109m.

These latest results follow the company’s recent announcement of a Maiden JORC Inferred Resource of 68,731 ounces of gold.

The March 2019 Resource RC drilling program at Gimlet included three diamond holes, two of which intersected hefty gold mineralisation.

The diamond core was gold assayed as well as providing First Au valuable density and geological information which went into the determining the JORC Resource.

The company indicated it will also utilise this core for further petrology, metallurgy and geotechnical studies.

Drillholes 19GDD001 and 19GDD002 were drilled in the central and high-grade core of the 450m-long mineralisation system at Gimlet, which is currently open at depth.

First Au explained that the drillholes were positioned to provide information for a geotechnical study it currently has underway.

Observations from the diamond core showed evidence of sheared and altered intermediate sedimentary volcanic fresh rock, containing lenses, disseminated and stringer of sulphides, as well as multiple phases of quartz and carbonate veinlets.

Pyrite appears to be the dominant sulphide phase, while arsenopyrite and galena have also been identified in the logging.

Hole 19GDD001 demonstrated evidence of coarse gold, such as what the company observed in recent ore petrology completed on aircore hole 18GAC063, completed last year, which contained 3m at 462g/t gold from 52m.

The company has interpreted the mineralised shear appearing near vertical in orientation and has estimated the true thickness of the two intersections to be approximately 10m.

Further RC and diamond drilling will be now planned to follow up these excellent results, including a proposed diamond hole to target 100m below the current limits of the Resource.

“Approximate 5000-metres aircore drilling program, consisting of 77 holes is planned for early June,” First Au said in its ASX announcement.

“The priority target (Target 1) is planned to test the major NW-SE structure north of Gimlet, along a further 1.6 kilometres in strike length.

“The March 2019 RC drilling identified mineralisation within the supergene blanket north of the current JORC Resource, which included 3m at 3.98g/t gold from 48m (hole 19GRC005) and 1m at 2.72g/t gold from 56m (hole 19GRC007) which requires follow up as part of the drilling.

“Target 2 and 3 are co-incident geochemical and structural anomalies identified from a recent target generation exercise in May which will also be tested.

“The results for this dill program are anticipated for July.”