First Au Limited (ASX: FAU) has officially completed its acquisition of the Riverina East gold project from Viking Mines. The transaction, which includes a package of 11 mineral licences covering 255 square kilometres, consolidates a significant landholding in the Western Australian goldfields. Located approximately 50 kilometres west of the township of Menzies, the project is situated near established mining operations, offering proximity to existing regional infrastructure.

The project encompasses the historical First Hit Gold Mine, a site notable for past production of 30,000 ounces of gold at an average grade of 7.7 grams per tonne. In addition to the former mine workings, the tenement package includes the Bifrost Mineralisation site, which the company identifies as highly prospective for further gold exploration. The acquisition involved a combination of two mining leases, four exploration licences, and five prospecting licences, alongside an application for an additional exploration licence.

Following the finalisation of the purchase agreement, which was initially disclosed to the market in late June, the company has now formally integrated the new assets into its holdings. Leadership views the addition of these tenements as a key step in developing its footprint within the region.

"The Riverina East Gold Project acquisition is consistent with First Au's strategic ambition to become a geologically driven West Australian gold exploration and development company. Along with the Barlee and Gimlet Gold Projects, we are building a portfolio of gold assets in proven mineral provinces."

— Daniel Raihani, Executive Chairman

Read the full announcement: Riverina East Gold Project Acquisition Complete