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First Au Ltd V.FAU.H


Primary Symbol: FRSAF

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.


OTCPK:FRSAF - Post by User

Bullboard Posts
Comment by Gaberlunzieon Dec 28, 2011 9:33am
248 Views
Post# 19353917

RE: RE: RE: 3077 gone already

RE: RE: RE: 3077 gone already

Your last question about the continuity of mineral below the water table is a basic point that has been glossed over. As I understand it, the gold is in blobs within structures that dip at about 70 degrees so continuity in depth is highly likely. The water table at the mine lies at about 700 feet below surface where it was met at the bottom of the deepest ramp. The rock is very porous with solution chanels that drain from surface down, presumably to the water table.

Some drill holes have apparently cut mineral below the water table. The previous operators ran pumping tests to see how easy it is to lower the water table and so be able to mine deeper. Results of these tests are not easy to find but from snippets I gather the pumping job will require lots of energy = electricity = diesel which has to be flown in. An alternative suggested was to find the solution channels in the rock and seal them with concrete, an expensive job with uncertain outcome.

The company does not have a permit to discharge water at surface. Applications take 18 months for a decision. We have not been told what the company is doing about this but for pumping to be effective, the water will have to be discharged well away from the mine or it will simply run back down. At present, the small amount of water pumped from the mine is being evaporated 'at mine mouth' using a snow making machine. At temoperatures below freezing, like now, the machine will be making a huge snow bank that will melt in the spring and run back down the mine.

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Bullboard Posts