First Au (ASX:FAU) has received approval from the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) for a mining lease at its Gimlet Gold Project in the state.
The company says the mining lease enhances its opportunities to either find a buyer or partner for Gimlet Gold or consider its options to move the project forward independently.
The company says the mining lease enhances its opportunities to either find a buyer or partner for Gimlet Gold or consider its options to move the project forward independently
Following this announcement, First Au’s share price jumped 33.33% to close at $0.004 on 26 May.
The Gimlet Gold project is strategically located 15km northwest of Kalgoorlie in Western Australia’s goldfields region. The project contains an inferred resource of roughly 120,000 ounces of gold @ 3.19g/t Au.
First Au is an ASX-listed gold and base metals exploration company focused on pursuing exploration programs at its wholly owned Gimlet Gold Project. The company’s portfolio of assets include the Gimlet Gold, Mabel Creek, and Victorian Gold projects.
Write to Aaliyah Rogan at Mining.com.au
Images: First Au Ltd
