First Au Limited Launches 3,000m Diamond Drilling at Liberia’s Nimba Gold Project, Securing Strategic Rig Ownership for Long-Term Exploration Advantage

Thursday, July 10, 2025
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9:55 am
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First Au Limited launches its pioneering diamond drilling program at Liberia’s Nimba Gold Project. The company signed a 3,000m contract with Hit N Drill Limited, securing eventual rig ownership to bolster cost-effective exploration and fuel potential growth in West Africa’s promising gold province.

First Au Limited has embarked on its inaugural diamond drilling program at its Nimba Gold Project in Liberia. A new track-mounted diamond drill rig has already been mobilised to the site, marking a significant step for the company in its strategic entry into the highly prospective West African Birimian greenstone belt. The project is positioned amid a geological setting known for prolific gold production, with nearby deposits and extensive artisanal mining suggesting considerable upside potential. Under a three‐thousand meter drilling contract with Hong Kong‐registered Hit N Drill Limited, First Au Limited will deploy two diamond rigs on the project. Notably, upon completion of the drilling campaign, ownership of one of the rigs will transfer to the company at no additional cost. This arrangement not only provides immediate drilling capacity but also secures a long-term capital asset that could reduce future exploration costs and enhance operational flexibility across the company’s African portfolio. The drilling program is designed to test high-priority targets, including structural controls beneath historical gold intersections, newly mapped oxide and sulphide zones, and extensions of artisanal gold workings over a distance of around 200 metres. These targets build on a recent month-long field mapping campaign by First Au’s technical team, reinforcing the potential for a large-scale, high-grade gold discovery in one of the world’s most prolific gold provinces. Bullish sentiment is underscored by the company’s pioneering move as the first ASX-listed entity to carry out diamond drilling in this promising Liberian region. The rig ownership deal is seen as a strategic advantage that could yield long-term operational efficiencies and reduced exploration costs. On the other hand, bearish perspectives may highlight the risks inherent in early-stage exploration, including technical challenges, the uncertainties of geological models, and the broader volatility frequently associated with frontier mining projects. Overall, the news reflects a bold step forward for First Au Limited as it seeks to unlock significant exploration upside in West Africa.

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