First Au Limited (ASX:FAU) announced strong assay results from 3 drill holes at the Gimlet gold project. The deepest drill hole at Gimlet intersected a broad zone of gold mineralisation with 33.1 metres at 1.6 g/t gold (including internal dilution) confirming that the mineralisation extends beyond 291 metres.
The latest drilling campaign is credited to the development of a new litho-structural model for the Gimlet project identifying new exploration prospects. The government co-funded 500-meter-deep diamond drilling will commence in mid-November to test the extent of the mineralisation. An RC drilling campaign has also been scheduled for November to test new prospects.
FAU traded at $0.027 a share on 5 November 2020 with a market capitalisation of $14.52 million.