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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Comment by FastTradeon Dec 28, 2011 6:51pm

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Post# 19355465

RE: RE: RE: RE: RE: 3077 gone already

"a material misstatement of fact" ? It couldn't be. Not when both the Technical Report of Sept. 30 2010 and the PEA of Feb. 25 2011 both include the same information - that being, the mined out portions (3077 included) along with the calculated resource totals. Could the onus be on Giroux Consultants as an oversight who did the resource estimate. Probably not. Except for this whole thing making absolutely no sense. Nothing has been kept from the public eye........."Through the course of preparing the 2011 re-estimate it was determined that the 3077 zone had been previously extracted. This error inflated the 2010 resource estimate by 9,330 tonnes of indicated resources grading 42.3 g/t and 10,920 tonnes of inferred resources grading 34.7 g/t. The corrected 2010 resource estimation is shown in Table 2."........... As i said, this statement makes absolutely no sense when it was already in the previous reports that zone 3077 was mined out. Sometimes you just have to question what's been said. Could the COO be wrong about his statements? You bet he could be. At any rate....if the re-estimated resource of 115000 ounces from 126000 ounces in the indicated category is somehow correct, it doesn't take away a substantial amount enough to affect the life of this mine and as i have said.....they're still mining, producing, drilling and moving ahead with a new resource update coming.

Giroux Consultants Ltd. was commissioned by Fire River to complete a resource
estimation on the tailing ponds for the Nixon Fork Mine (1995-1999) and the Treadwell
Stamp Mill Tailings located in Ruby Creek (1920’s- 1930’s). In addition, Mr. Giroux as
completed a resource estimate of the lode deposits at Nixon Fork. Author Giroux
completed a site visit of the tailing and underground areas in early May of 2010.
G.R.Rawsthorne and Associates was commissioned by Fire River to prepare a
preliminary economic assessment to evaluate the economic viability of completing a
cyanidation facility in the existing structure to reprocess and recover gold from existing
mine tailings. Mr. Rawsthorne visited the site in mid-March 2010 to assess the current
status of the mill and cyanidation plant and inventory of new processing equipment
acquired by St. Andrews.