Gimlet Gold Project Faces Critical Assay Wait After Drilling Milestone
First Au Limited has completed over 4,000 metres of reverse circulation drilling at its Gimlet Gold Project, aiming to upgrade its 120,000-ounce inferred gold resource to an indicated classification. Early geological observations align with existing models, with assays pending to refine the resource estimate.
- 4,000m RC infill drilling completed on schedule at Gimlet
- Upgrade targeted from inferred to indicated resource classification
- Initial geological data supports existing mineralisation model
- Samples collected and assays to be expedited
- Results to inform updated resource estimate and mining studies
Drilling Program Completion
First Au Limited (ASX, FAU) has successfully wrapped up a significant reverse circulation (RC) drilling campaign at its Gimlet Gold Project, located in Western Australia's prolific Kalgoorlie region. The program, comprising 44 holes totaling nearly 3,800 metres on mining lease M26/849, was completed safely, on time, and within budget. Additionally, four scout holes were drilled on adjoining exploration license E26/174 for investigative purposes.
Resource Upgrade Ambitions
The primary objective of this infill drilling was to increase the confidence level of the existing 120,000-ounce gold resource, currently classified as inferred, to an indicated status. This upgrade is critical as it reflects a higher degree of geological certainty, which is essential for advancing the project towards feasibility and potential mining operations. The drilling was conducted on a tight grid spacing of 15 by 20 metres to ensure robust data density.
Geological Observations and Sampling
Initial observations from drill chips have confirmed zones of strong alteration consistent with gold mineralisation, reinforcing the existing geological model. Interestingly, previously unrecognized pegmatite bodies were intersected, which may warrant further exploration. All samples were collected at one-metre intervals and are currently being prepared for expedited assay analysis at Nagrom laboratories, with results expected to provide critical input for a refreshed Mineral Resource Estimate (MRE).
Strategic Location and Infrastructure
The Gimlet Project is strategically situated approximately 15 kilometres northwest of Kalgoorlie, within a well-established gold mining district known for its rich deposits. The project benefits from existing infrastructure and potential toll treatment options, which could facilitate cost-effective development. The current inferred resource comprises approximately 1.17 million tonnes at 3.19 grams per tonne gold, underpinning the project's economic potential.
Next Steps and Market Implications
Following receipt of assay results, First Au plans to undertake detailed geological and structural reinterpretation to refine 3D mineralisation models. This will feed into an updated MRE and help prioritise targets for further drilling and sampling. Chairman Daniel Raihani expressed optimism about the project’s prospects, highlighting the significance of the Kalgoorlie region as a globally prolific gold province and positioning Gimlet as a promising addition to that legacy.
Bottom Line?
Assay results and the forthcoming resource update will be pivotal in shaping First Au’s next development steps at Gimlet.
Questions in the middle?
- Will assay results confirm and potentially enhance the current resource grade and confidence?
- What implications do the newly discovered pegmatites have for future exploration and resource expansion?
- How will the upgraded resource classification influence First Au’s timeline towards mining studies and potential production?
