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- Eleven holes of the fourteen-hole program have been successfully drilled at First Au’s (FAU) Snowstorm gold project in East Gippsland, Victoria
- The company said drilling results from the first three drill holes are “highly encouraging” demonstrate robust mineralised intervals
- The drilling of the first three holes was completed from the same pad
- Findings of high-grade gold assays up to 59.2 g/t Au hosted in sulphide mineralised breccia vein
- The current program has around 400 metres of drilling remaining to complete which will focus on the NW extent of the drill area
- First Au is up 8.33 per cent to 1.3 cents at 11:30 am AEDT
Eleven holes of the fourteen-hole program have been successfully drilled at First Au’s (FAU) Snowstorm gold project in East Gippsland, Victoria.
The company said drilling results from the first three drill holes are “highly encouraging” demonstrate robust mineralised intervals.
The Snowstorm drill program occurred on Licences EL005505 and PL007319, located in the Swifts Creek Goldfields of Victoria.
The program focused on extending a mineralised envelope around results from earlier drilling, including intersections of 3.1 metres at 11.6 g/t Au (Drillhole SNDDH002), 1.5 metres at 10.7 g/t Au from 65 metres (Drillhole SNDDH0078) and 1.2 metres at 8.5 g/t Au from 63 metres (Drillhole SNDDH001).
The drilling of the first three holes (357 metres of a 1525 metres drill program) was completed from the same pad and targeted a continuation of the earlier high-grade intersection of SNDH002, which also included a high-grade vein of 0.8 metres at 33.3 g/t Au.
The drilling has reportedly succeeded in showing mineralisation in all three holes, with high-grade gold assays up to 59.2 g/t Au hosted in sulphide mineralised breccia vein.
FAU’s Geologists have identified from drilling and field mapping that gold mineralisation occurs as a series of folded link structures hosted in NW-SE trending shear zones. Ongoing drilling continues to target this zone along strike to the NW.
Auriferous quartz veins are hosted by shear zones that crosscut the project area.
The NW-SE striking lodes range from 0.5 metres to 5 metres wide comprising laminated shear veins and carbonaceous shales interpreted to be associated with the Bindian Age of gold mineralisation.
The current drilling program has demonstrated continuation of strong areas of mineralisation occur on the Snowstorm project lease.
An additional eight holes have also been drilled to a total of 768 metres, with assays results pending. Many of these holes demonstrate similar styles of quartz veining and sulphide mineralisation.
The current program has around 400 metres of drilling remaining to complete which will focus on the NW extent of the drill area and is expected to finish in the middle of February 2022.
First Au is an advanced gold and base metals exploration company listed on the ASX and is trading on the OTCQB market in the USA.
First Au is up 8.33 per cent to 1.3 cents at 11:30 am AEDT.
