First Au Confirms High-Grade Gold at Gimlet as Phase 3 Drilling Backs Resource Upgrade

The latest update is out from First AU Ltd. ( (AU:FAU) ).

First Au Limited has reported the first batch of assay results from its Phase 3 reverse circulation infill drilling program at the Gimlet Gold Project in Western Australia, with 44 holes completed for 3,759 metres. The drilling has returned multiple high-grade gold intercepts across the deposit, confirming strong mineralisation continuity and supporting a planned upgrade of the Gimlet Mineral Resource from Inferred to Indicated classification. Remaining assay results from a further 23 drill holes are expected in early March and will feed into a refreshed mineral resource estimate that may underpin forthcoming mining studies. The company also intends to undertake follow-up diamond core drilling after the resource update to obtain metallurgical samples, structural data and specific gravity measurements, signalling a move toward more advanced technical evaluation and potential project development.

The most recent analyst rating on (AU:FAU) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on First AU Ltd. stock, see the AU:FAU Stock Forecast page.

More about First AU Ltd.

First Au Limited (ASX: FAU) is an Australian gold exploration and development company focused on advancing its Gimlet Gold Project near Kalgoorlie in Western Australia, a globally recognised gold-producing region. The company is working to upgrade and de-risk its existing mineral resource at Gimlet through systematic drilling and technical studies aimed at improving resource classification and supporting future mining plans.

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Technical Sentiment Signal: Sell

Current Market Cap: A$28.84M

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