- First Au (FAU) receives the remaining results from the recently completed drilling program at the Snowstorm project in East Gippsland, Victoria
- A total of 14 holes were drilled under the phase two program which focused on extending a mineralised envelope around results from the maiden program
- Results have been received from the final 11 holes which saw grades peak at 23.2g/t gold and demonstrate a mineralised system that remains open along strike and at depth
- First Au is encouraged by the results and will develop a bulk sampling program to determine a detailed understanding of the geological controls and framework of the ore
- Shares in FAU are up 7.14 per cent on market close and trading at 1.5 cents
First Au (FAU) has received the remaining results from the recently completed drilling program at the Snowstorm project in East Gippsland, Victoria.
A total of 14 holes were drilled under the phase two program which focused on extending a mineralised envelope around results from the maiden program.
This maiden program returned results of 3.1 metres at 11.6g/t gold including 0.8 metres at 33.3g/t gold, 1.5 metres at 10.7g/t gold from 65 metres and 1.2 metres at 8.5g/t gold from 63 metres.
First Au has received results from the final 11 holes with a peak of 0.3 metres at 23.9g/t gold from 14.8 metres.
Other results include 0.2 metres at 23.2g/t gold from 8.8 metres and 1.2 metres at 3.02g/t gold from 65 metres including 0.1 metres at 22.6g/t gold from 67.3 metres.
This drill program demonstrated an extensive mineralised system exists at Snowstorm and remains open along strike and at depth.
First Au is encouraged by the results and will undertake the next stage of exploration and develop a bulk sampling program.
The bulk sampling program will aim to determine a more detailed understanding of the geological controls, framework and metallurgical characteristics of the ore to establish a more accurate assessment of the economic potential.
The process to apply for and receive approval to undertake a bulk sampling program is expected to take roughly 12 months during which time First Au will focus on its Dogwood and Haunted Stream projects.
Shares in FAU were up 7.14 per cent on market close and were trading at 1.5 cents.