First Au (ASX:FAU) concludes maiden drilling at Dogwood, records gold grades up to 135g/t at Haunted Stream

• First Au announced the completion of the maiden drill program at the Dogwood copper porphyry project.
• Over 2,000m of diamond core drilling was undertaken at the EL006977 Dogwood copper and gold project.
• First Au has conducted a focused face sampling and surface sampling program along with structural mapping across underground development at Haunted Stream.

Shares of Diversified mineral exploration company, First Au Limited (ASX:FAU), jumped 10% to AU$0.011 a share following the announcement of the completion of the maiden drill program at the Dogwood copper porphyry project. The company has also updated that rock chip assay results for the Haunted Stream and Snowstorm projects have now been received.

Dogwood Drilling Update

Over 2,000m of diamond core drilling was undertaken at the EL006977 Dogwood copper and gold project. As many as 14 holes were drilled targeting historical drilling, surface geochemistry signatures, magnetics and IP chargeability and resistivity anomalies.

The Dogwood Project is situated within EL006977 and is historically host to both the Cu-Mo and Au anomalies that have not been followed up since the mid-1990s.

Drilling Rig at Dogwood Project Source: FAU announcement 18 July 2022

First Au has reported that preliminary observations were highly encouraging. Currently, the company is undertaking geological logging, and sampling and results of the first batch of samples sent for assaying are now pending.

The drill program has outlined numerous structural relationships and confirmed multiple substantial alteration zones stretching more than a kilometre over the drill area. Furthermore, alteration styles across the copper-molybdenum zone have showcased a range of ‘classic’ porphyry copper alteration signatures and zonations, while the gold region demonstrated a strong association with quartz-carbonate sulphide veined zones.

Face sampling and drilling update at Haunted Stream

First Au has conducted a focused face-sampling and surface sampling program along with structural mapping across underground development at Haunted Stream. Additionally, underground rehabilitation is currently being conducted at the Lone Hand prior to the UG diamond drill program to test the down plunge potential of the reef system over the Ernestine, Lone Hand, Excelsior to Hibernia trend. FAU believes that conducting underground rehabilitation works will facilitate the drill testing of its priority targets.

Face Sampling from Ernestine underground and open pit section Source: FAU announcement 18 July 2022

Face samples from the Ernestine and Lone Hand underground drives and open pits returned gold grades up to 135g/t Au using the Screen Fire Assaying technique. FAU consider these results to be highly encouraging and supporting the presence of potential gold mineralisation in deeper sections.

Samples from the Lone Hand Stope and adjacent walls, which contain quartz-sulphide mineralisation, returned assay grades up to 19g/t gold.  The Haunted Stream project continues to demonstrate potential for significant high-grade gold mineralisation, indicated from sampling of historical workings and rock chip sampling.

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Gold sample location VR5001 at Snowstorm Source: FAU announcement 18 July 2022

Sub-cropping quartz-sulphide reef samples from the Snowstorm project returned gold grades up to 74.54 g/t Au. Rock chip VR50001 with gold grade of 74.54 g/t Au is located at a site, which has not been drill tested and is located between the lower and upper zones of the Snowstorm project.