Nimba Drilling Yields 29m at 0.97 g/t Au and High-Grade Intervals in First Hole

Initial Assays Validate Geological Model

First Au Limited (ASX – FAU) has reported encouraging initial assay results from its ongoing drilling program at the Nimba Gold Project in Liberia. The first hole, FADD25-001, intersected a broad zone of gold mineralisation measuring 29 metres at 0.97 grams per tonne (g/t) gold starting from 49 metres depth, alongside a higher-grade interval of 8 metres at 2.55 g/t gold. These results align closely with the company’s geological model, confirming both the extent and structural control of the mineralisation at the Ziatoyah target.

Visible gold was observed in the drill core, a positive sign that the mineralisation includes coarse native gold. However, this also introduces a nugget effect, causing variability in assay results and prompting First Au to initiate Screen Fire Assays to better quantify gold grades.

Supporting Evidence from Adjacent Drill Holes

Additional drill holes FADD25-002 and FADD25-003, located 58 and 89 metres north of the first hole respectively, have intersected multiple broad zones of favourable alteration consistent with mineralisation patterns seen in FADD25-001 and previous Hamak Gold drilling. While assay results for these holes are still pending, the logged alteration zones suggest a continuous and potentially extensive mineralised system that remains open at depth and along strike.

The continuity of mineralisation across these holes, spaced approximately 147 metres apart, reinforces the prospect of a sizeable gold system. This is particularly significant given the proximity to Endeavour Mining’s Ity Mine, just 25 kilometres north across the border in Cote d’Ivoire, which hosts over 5 million ounces of gold resources.

Addressing Assay Variability and Next Steps

First Au’s Executive Director Lei Shi highlighted the importance of addressing assay variability caused by the nugget effect. The company’s decision to undertake Screen Fire Assays aims to provide a more accurate assessment of gold grades, especially in zones where visible gold is present but conventional fire assays may underestimate grades.

Ongoing drilling continues despite seasonal challenges such as heavy rains causing temporary abandonment of one hole. The program is expanding northwards to test new targets associated with artisanal mining and strong geochemical anomalies. These efforts are part of a broader 3,000-metre diamond drilling campaign designed to advance the project toward resource definition.

Capital Structure and Strategic Partnerships

Alongside exploration progress, First Au has agreed to issue shares and unlisted options to an advisor as part of the Nimba Project acquisition arrangements. This issuance, conducted under the company’s placement capacity, reflects ongoing efforts to manage capital efficiently while advancing the project.

The Nimba Gold Project is held through a joint venture with Hamak Gold Limited, with First Au currently holding a 35% interest. The project’s geological setting within an Archean greenstone belt is highly prospective for orogenic gold deposits, and recent drilling results are beginning to unlock its potential.