First Au Unveils High-Grade Gold Hits at Gimlet, Eyes Resource Upgrade
First Au Limited has reported strong initial assay results from its Phase 3 drilling at the Gimlet Gold Project, confirming high-grade gold mineralisation and setting the stage for a resource upgrade.
- Phase 3 RC drilling delivers multiple high-grade gold intersections
- Notable intercepts include 4m at 102.06 g/t and 2m at 47.52 g/t Au
- 44 holes completed over 3,759m on mining lease M26/849
- Pending assays expected by early March to refine resource estimate
- Diamond core drilling planned to support metallurgical and structural studies
Strong Start to Phase 3 Drilling
First Au Limited (ASX – FAU) has released the first batch of assay results from its Phase 3 infill reverse circulation (RC) drilling program at the Gimlet Gold Project, located near Kalgoorlie in Western Australia. The initial 44 holes, totalling 3,759 metres, have confirmed multiple zones of high-grade gold mineralisation, reinforcing confidence in the deposit's geological model.
Among the standout results are several significant intercepts, including a 14-metre interval grading 3.28 grams per tonne (g/t) gold from 47 metres depth, which contains a 2-metre section at an exceptional 12.81 g/t. Another highlight is a 14-metre intercept averaging 7.58 g/t from 33 metres, featuring an extraordinary 4 metres at 102.06 g/t. These high-grade hits underscore the potential richness of the Gimlet deposit.
Advancing Towards a Resource Upgrade
The drilling was conducted on mining lease M26/849 with a close-spaced 15m by 20m pattern designed to infill areas where historic drilling was less dense. This approach aims to improve the confidence in mineral continuity and support an upgrade of the existing Mineral Resource Estimate (MRE) from an Inferred to an Indicated classification. The current inferred resource stands at approximately 120,000 ounces of gold at 3.19 g/t, based on a 2021 estimate.
First Au expects to receive the remaining assay results for the additional 23 holes by early March. These will be incorporated into a refreshed MRE, which will provide a more robust foundation for upcoming mining studies and project development decisions.
Next Steps and Future Drilling
Following the completion of the resource update, First Au plans to undertake diamond core drilling. This next phase will provide critical metallurgical samples, structural insights, and specific gravity measurements necessary for detailed mine planning and processing design. The company’s Executive Chairman, Daniel Raihani, expressed optimism about the results so far, highlighting the reinforcement of the geological model and the potential for resource classification upgrades.
The Gimlet Gold Project benefits from its location within the prolific Eastern Goldfields region, with good infrastructure and potential toll treatment options nearby. The ongoing drilling and resource refinement efforts are key steps towards unlocking the project's value and advancing it towards production.
Bottom Line?
With high-grade results confirming Gimlet’s potential, First Au is poised for a pivotal resource upgrade that could reshape its development trajectory.
Questions in the middle?
- How will the remaining assay results impact the overall resource size and grade?
- What insights will diamond core drilling provide regarding metallurgical characteristics?
- When might First Au release an updated Mineral Resource Estimate and what classification changes are expected?
