FirstAu Limited is gearing up to drill at its First Hit gold deposit, aiming to define a maiden Mineral Resource Estimate based on historic high-grade production and extensive data.
- RC drilling planned to test extensions at First Hit deposit
- Historic mine produced ~29,000 ounces at 7.6g/t gold
- Project strategically close to existing mining infrastructure
- Drilling contracts and logistics well advanced
- Progressing resource estimation for Riverina East project
FirstAu Targets Resource Upgrade at First Hit Deposit
FirstAu Limited (ASX:FAU) is preparing to recommence drilling at the First Hit gold deposit, a historically high-grade site that produced nearly 30,000 ounces of gold at an average grade of 7.64 grams per tonne over just 15 months in the early 2000s. The company has lodged a Program of Work (PoW) to initiate a reverse circulation (RC) drill program focused on testing down-dip extensions and increasing data density to support a maiden Mineral Resource Estimate.
Historic Production and Strategic Location
The First Hit mine was previously operated by Barra Mining, with the historic production reflecting robust grades despite a relatively short mining period. Notably, previous owners reported a significant unmined resource remains, which FirstAu now seeks to validate and expand. The deposit sits in a well-established gold mining district in Western Australia’s Eastern Goldfields, benefiting from proximity to existing infrastructure including the Riverina underground mine, operated by Ora Banda Mining (ASX:OBM), located just 8 kilometres south, and the Davyhurst processing plant 40 kilometres away.
Drilling Program and Technical Advances
FirstAu’s Executive Chairman, Daniel Raihani, emphasised the importance of First Hit within the company’s growing Western Australian portfolio, describing the deposit’s high-grade history as a strong foundation for upcoming exploration. The planned RC drilling will target extensions of known mineralisation and convert wider spaced historical data into sufficient density for resource estimation. Contracts for drilling and assays have been awarded to a local Kalgoorlie-Boulder provider, with logistics well advanced, signalling readiness to commence work promptly.
Advancing the Riverina East Gold Project
The First Hit deposit forms the core of the larger Riverina East Gold Project, which spans 255 square kilometres and includes multiple tenements with active mining and exploration licences. Alongside First Hit, the project hosts the Bifrost mineralisation site, which remains open in all directions and lacks a declared resource, representing further exploration upside. FirstAu is progressing resource estimation and geological modelling at both First Hit and Bifrost, aiming to advance the project’s valuation and development potential.
Positioning for Growth in WA Gold Sector
This drilling initiative follows FirstAu’s recent strategic acquisitions and resource upgrades in Western Australia, including the Riverina East acquisition itself. The company’s methodical approach to validating historical data and focusing on resource definition reflects a clear intent to build a robust resource base. The proximity to existing processing infrastructure reduces capital intensity risks, potentially accelerating the path to production should the drilling results prove encouraging.
Bottom Line?
FirstAu’s upcoming drilling at First Hit could unlock significant value if it confirms extensions to the historic high-grade mineralisation, but investors should watch for assay results and resource estimation updates to gauge progress.
Questions in the middle?
- Will the drilling confirm extensions sufficient to support a maiden Mineral Resource Estimate?
- How might results from Bifrost mineralisation influence the overall project valuation?
- What timeline will FirstAu set for resource estimation and potential development milestones?