Australian-focused exploration company First Au Limited has been granted four exploration licenses at its Victorian Goldfields (VicGold) project in East Gippsland, Victoria. The licenses constitute a substantial increase in area for the VicGold project and are considered to be of significant strategic importance.
The newly granted tenements – EL006975, EL006976, EL006977 and EL007335 – cover an area of approximately 2,200 square kilometres and collectively contain numerous, highly prospective targets including the greater Haunted Stream Au corridor, the Birregun Orogenic Au and Dargo High Plains Deep Leads Au projects, and an open westerly extension to the Snowstorm Project area.
The EL006977 tenement contains the Dogwood Porphyry Copper project, which is currently a high priority project that is prospective for copper, gold and molybdenum. First Au said drilling at the project will commence within a month, where historic drilling intercepted 13.2 metres @ 1.3%, ending in mineralisation.
“The upcoming drill program will focus on testing the extent of economic grade potential within the project area specifically for copper, molybdenum and gold commodities,” said the miner.
First Au has ground holding in significant mineral fields throughout Australia, including the Eastern Victoria Goldfields, and the Kalgoorlie and East Pilbara areas of Western Australia.
Source: First Au Limited