First Au Limited (ASX:FAU) announced the renewal of the Exploration Licence EL5505 (Snowstorm Project) in Gippsland, Victoria. The renewal gives First Au 2 years to explore and decide on its exercising its option. Further, the gold explorer holds a 12-month right to extend into the third year of the option term.
Snowstorm project is a highly prospective ground within the Victorian gold project and hosts Ordovician sediments, similar to Haunted Stream prospect.
First Au traded at $0.026 a share on 18 November 2020 (1:22 pm AEDT) with a market capitalisation of $12.37 million.