First Au (ASX:FAU) reports encouraging assay results for Dogwood Project

• First Au has received assay results reflecting broad zones of disseminated copper mineralisation at its Dogwood Porphyry Copper and Gold project.
• The Initial drilling assay result indicates maximum high-grade Cu assays > 0.8% Cu & 5.62 g/t Au at Hole 1 and Hole 3 of the project.
• The results demonstrate the great prospectivity of the project and follow-up targets for future exploration.

A prominent gold and base metals exploration company, First Au Limited (ASX:FAU), has received highly encouraging assay results for the Dogwood Porphyry Copper and Gold project, demonstrating significant mineralisation potential, consistent with a large hydrothermal system. Initial assay results highlight the great prospectivity of the project and follow-up targets for future exploration.

As per the latest updates, there are broad zones of copper and gold mineralisation with a maximum Cu grade of > 0.8% and Au of 5.62 g/t at Hole 1 (DGWDDH001) and Hole 3 (DGWDDH003) of the project.

• Hole 1 intersected extensive Cu mineralisation from 41m, extending over 70m downhole to 113.7m.
• Hole 3 intersected extensive Cu mineralisation from 180m, extending 32m downhole to 212.1m.

Also, drilling has intercepted high-grade results of [email protected]% Cu from 100.7m in hole 1 and [email protected]% Cu, 5.62 g/t Au and 9.3 g/t Ag from 210.8m in hole 3.

Porphyry intersected in DGWDDH001 from 88.9m to 110m displaying disseminated, fly-speck and veined chalcocite mineralisation Source: FAU Announcement 24 August 2022

DGWDDH003 intersection @ 210.8m shows chalcopyrite veins overprinting arsenopyrite & quartz-carbonate veins recorded 5.62 g/t Au Source: FAU Announcement 24 August 2022

In-depth details of the drilling assay result

According to drill logging, the copper mineralisation system dips to the south, typically hosted in a porphyritic unit and occurs within sediments, which have a quartz-rich wackes, shales, silts, conglomerate. It seems to have an association with a range of flow-banded rhyolite volcanics which have not been recognised in the area before.

Considering the current Geological Survey Victoria maps that show only sediments and tonalitic intrusions, the intersection of felsic volcanics by drill holes was unlikely. Both conglomerates, felsic volcanics and porphyritic units and their association with copper are more common in other Silurian basins within the district rather than the older Ordovician Pinnak Sandstone sequence that Dogwood is currently associated with.

Clearly, a new array of geological units has been introduced at the Dogwood project due to FAU’s maiden drilling. Previously, these units were not identified in this region. However, the relevance and timing of these units within the district are yet to be established.

Section 589580mE showing drill hole locations, local geology and trend of mineralisation (All coordinates in MGA94, Zone 55 Projection) Source: FAU Announcement 24 August 2022

More assays are advancing in laboratories and the remaining core is being prepped to be submitted for assaying. The company will release updates for Hole 2 and Hole 4 through to 14 as soon as they are available.

Stock information: FAU shares were trading at AU$0.007 apiece in the early hours of 24 August 2022.