First Au expanding Victorian Gold project, Stock up ~19%

  • Jul 09, 2020 AEST
  • Team Kalkine

First Au Limited (ASX:FAU), announced entering into an option agreement with Mines of Stirling Pty Ltd to acquire 85% (post-dilution 80%) interest in the granted tenement EL 5505 and the Snowstorm Project or prospecting license application PL 007319.

Source: First Au

Source: First Au

The Snowstorm projects exhibit high-grade gold results and contain Ordovician sediments similar to Haunted Stream prospect. Against the agreement to acquire 80% interests, First Au would be required to make payments at certain intervals upon included stipulations.

First Au traded at $0.019 a share on 9 July 2020 at 11:54 AM, an increase of ~18.75% against the previous close, with a market capitalization of $7.10 million.

All financial information pertaining to Australian currency unless stated otherwise.



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