First Au Limited has launched its inaugural diamond drilling program at the Nimba Gold Project in Liberia, securing ownership of a drilling rig to bolster its West African exploration ambitions.
- First-ever diamond drilling by an ASX-listed company at Nimba Gold Project
- 3,000m drilling program targeting structural gold zones and artisanal workings
- Strategic contract with Hit N Drill Ltd includes ownership transfer of one rig
- Nimba project situated in prolific Birimian greenstone belt near major West African gold mines
- Rig ownership provides long-term cost and operational advantages for FAU
Strategic Entry into West African Gold Belt
First Au Limited (ASX, FAU) has taken a significant step forward in its exploration journey by mobilising a brand new diamond drilling rig to its Nimba Gold Project in Liberia. This marks the first time an ASX-listed company has conducted diamond drilling in this highly prospective region of the West African Birimian greenstone belt, a geological formation renowned for hosting some of the world's richest gold deposits.
The Nimba project, under an exclusive agreement with 79 Resources Inc., a subsidiary of Hamak Gold Limited, covers an 831 square kilometre exploration licence in northern Liberia. Its proximity to established gold mines such as Côte d’Ivoire’s Ity Gold Mine and Pasofino’s deposit underscores the geological potential of the area.
Drilling Program and Rig Ownership
The company has contracted Hit N Drill Ltd, a Hong Kong-registered drilling operator, for a 3,000-metre diamond drilling program using two new track-mounted rigs. Notably, FAU will gain outright ownership of one of these rigs at no extra cost once the program concludes, effectively securing a valuable capital asset. This ownership is expected to reduce future exploration costs and provide operational flexibility across FAU’s African portfolio.
The drilling targets include structural controls beneath historical gold intersections, newly mapped oxide and sulphide zones, and extensions of artisanal gold workings spanning approximately 200 metres. These targets were identified following a recent comprehensive field mapping campaign by FAU’s technical team.
Potential for a Company-Making Discovery
FAU’s Chairman, Daniel Raihani, highlighted the strategic importance of this milestone, describing the diamond rig mobilisation and rig ownership as a long-term exploration advantage. The company is aiming to leverage the high-grade structural controls characteristic of other West African gold systems, with the hope that the Nimba project could become a flagship discovery.
While the drilling results are yet to be reported, the combination of a well-funded drilling program, strategic rig ownership, and a highly prospective geological setting positions FAU as a notable player in the region’s gold exploration landscape.
Bottom Line?
As drilling progresses, FAU’s rig ownership could prove pivotal in unlocking West Africa’s gold potential while managing exploration costs.
Questions in the middle?
- What initial assay results will reveal about the gold potential at Nimba?
- How will rig ownership impact FAU’s exploration budget and timelines long term?
- Could this drilling program lead to further acquisitions or partnerships in West Africa?