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First Au Limited (ASX:FAU)

ALERT: Price-sensitive ASX Announcement for FAU
Current share price for FAU : $0.007 -0.008 (-53.33%)+
Announcement
Release
18 Mar 2026 9:44AM
Price at Release
$0.015
Full Release
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Summary
First Au Limited (ASX: FAU) has announced the acquisition of the Barlee Gold Project, located in the underexplored Marda-Evanston Greenstone Belt in Western Australia. This acquisition, executed through a binding agreement, expands First Au’s exploration footprint and offers significant potential due to technological advancements in geophysics and drilling which allow exploration beneath previously inaccessible salt lake sediments. The project area, covering approximately 300 square kilometers, remains underexplored due to extensive cover and sediments, despite the region's historical gold production exceeding 2 million ounces. The acquisition involves a cash payment totaling $1,000,000 and the issuance of $1,250,000 in FAU shares, subject to shareholder approval. First Au intends to continue exploration efforts based on previous findings and potentially uncover significant mineral deposits.
Key Points
  • First Au to acquire 100% of the Barlee Gold Project.
  • Barlee covers 300km² in the Marda-Evanston Greenstone Belt.
  • Region historically produced over 2 million ounces of gold.
  • Underexplored due to extensive cover and salt lake sediments.
  • Advancements in exploration technology enhance project potential.
  • Acquisition cost of $1,000,000 in cash and $1,250,000 in shares.
  • First Au plans to continue exploration to uncover mineral deposits.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.