First Au Limited (ASX:FAU) has received notification from the Western Australian Department of Mines that its Gimlet Mining Lease application (M26/849) has been granted.
The Gimlet Gold Project is strategically positioned 15km NW of Kalgoorlie, in an area rich in infrastructure and potential toll treatment options. The project contains an inferred resource of 120,000oz Au @3.19g/t Au.
Having a granted Mining Lease significantly enhances the opportunities to either find a buyer/partner for the project or consider options to move the project forward independently.
The Gimlet Project is strategically positioned near Kalgoorlie, in an area rich in infrastructure and potential toll treatment options. Within six months of FirstAU listing, its exploration team made the “Gimlet” discovery, with a drill intersection of 4.0m @393g/t Au (from 52m). From this intersection, FirstAU has begun to build a “Resource Base” and continues to explore elsewhere on its tenure, where FirstAU see potential for significant mineral system.
