Gold minnow First Au (ASX: FAU) has received strong assay results from its maiden reverse circulation (RC) drilling program at the Gimlet project near Kalgoorlie in Western Australia.
The company’s aggressive drilling program has delineated mineralisation over 400m of strike, with mineralisation remaining open to the north and at depth.
First Au said there was evidence of both lode and supergene-style gold mineralisation.
Better results from the RC drilling program to-date include 13m at 8.2 grams per tonne from 67m, including 2m at 16.1g/t gold from 69m, and 1m at 40g/t gold from 77m; 31m at 2.1g/t gold from 48m, including 1m at 22g/t gold from 69m, and 9m at 3.5g/t gold from 43m.
Full steam ahead
The results follow on from the company’s recently-completed aircore drilling campaign at Gimlet which revealed “outstanding” gold intersections such as 4m at 393g/t from 52m.
With RC drilling set to resume, the encouraging results have also prompted First Au to consider a maiden diamond drilling program in early 2019 to grow the known mineralisation along strike and at depth.
While drilling will primarily target gold mineralisation within the supergene and transitional zones, First Au will look to drill deeper to understand the lode-style gold system within the fresh rock.
First Au said its priority for this next program will be to drill along the northern extent of the observed mineralisation, which remains open.
In conjunction with drilling, First Au has kicked-off a petrographic study on the ore horizon and will start baseline metallurgical studies on bulk representative samples selected from the RC drill chip
First Au spruiks nearology
First Au, which re-listed on the ASK in June, continues to highlight the attractiveness of Gimlet’s location.
The project is located just 15km west of Kalgoorlie, adjoining to the tenements of Intermin Resources, which contain the Teal, Jacques Find and Peyes gold deposits. The deposits combined host JORC resources totalling 289,000 ounces of gold.
Intermin announced earlier this week that it had agreed to merge with MacPhersons Resources, which also has gold assets in the Kalgoorlie region.
Investors reacted well to the assay results, pushing First Au’s shares up 4.5% to $0.023 mid-morning.