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- First Au (FAU) has received encouraging initial assay results from the Snowstorm Project in the Victorian Goldfields
- Diamond drilling began in February to target the mineralised trends identified via previous mapping and rock chip sampling programs
- Partial results have been returned with grades so far peaking at 11.6g/t gold
- Fire assays will also be undertaken to identify the potential coarse gold
- First Au expects drilling to wrap up in late April with full results expected shortly after
- Findings will be reported on once results have been received
- Shares in First Au are down 10.5 per cent and are trading at 1.7 cents
First Au (FAU) has received encouraging initial assay results from the Snowstorm Project in the Victorian Goldfields.
The Snowstorm Project lies 15 kilometres north of First Au’s Haunted Stream Project and has historically returned high-grade gold mineralisation.
Diamond drilling began in February to target the mineralised trends identified via surface mapping and rock chip sampling programs.
Partial results have been returned with a best intersection of 3.1 metres at 11.6g/t gold from 53 metres including 0.8 metres at 33.3g/t gold from 54 metres.
Other results include 2.2 metres at 1.12g/t gold from 16 metres and 3.4 metres at 2.56g/t gold from 18.8 metres including one metre at 5.24g/t gold.
First Au expects drilling to wrap up in late April with full results expected shortly after.
Fire assay will also be undertaken to identify the potential coarse gold component and findings will be reported on once results have been received.
Shares in First Au are down 10.5 per cent and are trading at 1.7 cents at 3:46 pm AEST.
