First Au Ltd V.FAU.H

Primary Symbol: FRSAF

Metals & Mining Industrial Metals & Minerals

First AU Limited is an Australia-based advanced gold and base metals exploration company. The principal activity of the Company is exploration for gold and other metals in its interests in mining tenements located in Western Australia and Victoria. It is engaged in pursuing exploration programs at its Victorian Goldfields Project in East Gippsland and its 100% owned Gimlet Gold project near Kalgoorlie. The Victorian Gold Project is located in the Gippsland region, which is in the historic mining area of Swifts Creek and is focused on the Haunted Stream and Snowstorm Projects. The flagship Haunted Stream Project is located in East Gippsland Victoria (340 kilometers (km) South East of Melbourne). The Company’s Gimlet Gold Project is located approximately 15 km northwest of Kalgoorlie, Western Australia EL26/174 and application M26/849 -9.6 square kilometers. The Snowstorm Prospect is located within the historic Swifts Creek Goldfields in the East Gippsland region.

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First Au Ltd

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Post by tentongoldon May 16, 2011 11:44am

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Post# 18581785

94% of all resource ounces close to existing mine

An On going 28,000 metre drill program to expand resources and a new NI-43-101 report to follow .

An expanding resource of high grade low tonnage gold , open in all directions with no discontinuation .

A third exploration drill is to be added.
Water problems are currently non existent and do not pose a threat to mining operations at this time or the extent of mine life in the foreseeable future.
The mine has begun stockpiling ore for the mid-June start up.
The current payroll of 50 workers includes 24miners and diamond drillers. This will be increased to 42 over the nexttwo months.

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