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January 17, 2023 – Vancouver, Canada – First Mining Gold Corp. (“First Mining” or the “Company”) (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to provide an update on exploration activities at its Birch-Uchi Greenstone Belt (“BUGB”) Project located in the Red Lake Mining District of Ontario, Canada, near the Company’s Springpole Gold Project (“Springpole”).
First Mining has commenced a district-scale exploration program as part of a multi-year strategy to unlock the exploration potential on the +70,000-hectare property position located in the underexplored BUGB. The mineral tenure comprising the BUGB Project surrounds Springpole, which was advanced to a Pre-Feasibility Study that was completed in January 2021 and contains an Indicated Resource of 4.6 Moz Au at 0.94 g/t and additional Inferred Resource of 300 koz Au at 0.54 g/t, including Probable Reserves of 3.8 Moz Au at 0.97 g/t, as set out in the technical report entitled “NI 43-101 Technical Report and Pre-Feasibility Study on the Springpole Gold Project, Ontario, Canada”, which was prepared for First Mining by AGP Mining Consultants Inc. (“AGP”) in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and has an effective date of January 20, 2021. First Mining is currently advancing Springpole toward a Feasibility Study.
The BUGB exploration work programs have included widespread initial screening campaigns comprised of geochemical, geological, and geophysical surveys over key transects and favourable exploration features of the BUGB property setting that include components around structure, lithology, and mineralization (see Figure 1). The Company’s exploration team has also been actively completing data acquisition that is targeted across the project area in a first ever district-scale regional program that aims to establish priority targeting at a meaningful and modern scaled approach.
“We are very excited to be embarking on our first district-scale exploration program in the Birch-Uchi Greenstone Belt. We are encouraged by the initial results of the rock and soil sampling programs and the results of the regional airborne geophysical survey,” stated Dan Wilton, CEO of First Mining. “Our exploration program represents the next pillar of growth, and we are confident that our continued exploration success will add significant optionality by delivering sizeable exploration growth potential for First Mining and socio-economic benefits in the region as we aim to grow our current 21% Indigenous employee base.”
Figure 1: The consolidated First Mining Birch-Uchi Greenstone Belt mineral tenure around Springpole, highlighting the regional 2022 BUGB exploration campaigns
Work Program and Exploration Highlights
Table 1: Rock Sampling Highlights
|Sample ID||Easting (NAD83)||Northing (NAD83)||Gold Grade (g/t)||Sample Type||Target Area||Property|
|B1055352||533115||5680767||34.7||Muck||Sol D’Or||Sol D’ Or|
*Rock grab samples are selective in nature and may not represent the true grade or style of mineralization across the project area. A total of 537 samples were selected for analysis with only a portion returning significant or anomalous results. The results as listed include all samples received to date >2 g/t Au, with additional samples returning values below this threshold, or below detection limits (5 ppb). Easting and northing coordinates for samples are Universal Transverse Mercator (UTM), NAD83 datum.
About the Birch-Uchi Greenstone Belt Project
The BUGB Project hosts significant geologic elements, including historic production centres that are demonstrative of a strong gold endowment and affinity for new discovery. First Mining’s extensive BUGB property position (Figure 1) is located within the Red Lake Mining District and is situated approximately 80 km east of the Red Lake Mines Complex of Evolution Mining and 75 km northeast of Kinross Gold’s Dixie Project (formerly owned by Great Bear Resources Ltd). The geology of the region is comprised of Archean Greenstone terranes that are endowed by significant gold mineralization inclusive of orogenic and alkaline intrusion related deposit styles. Initial data compilation and validation to date has indicated that the region demonstrates an underexplored and previously fragmented exploration immaturity that is well levered to the Company’s strategy of consolidation and district screening. With initial field programs now completed, the Company anticipates additional updates as datasets and analytical results become available.
First Mining’s VP Exploration, James Maxwell, commented: “Our teams have embarked on the exploration path to demonstrate the future resource discovery potential of the Birch-Uchi Greenstone Belt taking advantage of the recent tenure consolidation completed by First Mining in 2021 and 2022.”
BUGB Project Target Overview
The BUGB hosts multiple gold mineralization styles throughout, which supports having a strong multi-discipline geoscience foundation that can be applied in an integrated and iterative targeting approach that can be leveraged for distinction or in combination. Early targeting and vectoring elements highlight consolidated target opportunities surrounding the Swain – Sol D’Or, Horseshoe, Sirius, and Canamer target areas.
The Swain – Sol D’Or target area is situated along the Grace Deformation zone (GDZ), a splay off the regional Swain Deformation Zone (SDZ) that is coincident with the geology of the historical Sol D’Or Mine, where a 34.7 g/t Au muck sample was returned proximal to an area of historic workings (Table 1). The Swain – Sol D’Or targeting effort within the larger scale setting comprises gold bearing quartz veins of orogenic affinity that are hosted in felsic to intermediate volcanics interbedded with Banded Iron Formations (BIF). Early target evolvement and the 2022 exploration drilling are supporting further exploration and prioritization of favourable geological gold mineralization system(s) along the GDZ. The Mystical showing (Table 1) and favourable gold and arsenic soil geochemical anomalies located in the southeast corner of the property are highlighted preliminary targets for 2023 follow-up that will be further resolved with processing and integration of the geophysical airborne campaign.
The Horseshoe target area is currently characterized as an intrusion-hosted gold occurrence, with mineralization concentrated along structural contacts that have acted as favourable pathways. The Horseshoe occurrence, as well as newly discovered Mustang and Bronco showings (Table 1) are all situated within a setting of regional shearing and faulting occurring along the SDZ on the Horseshoe property. The Horseshoe target is evolving as a priority 2023 drill ready target and further follow-up field work is now being planned to advance drill stage targets for Bronco and Mustang. The Bronco showing is hosted within a felsic volcanic unit, that is strongly sheared and foliated supporting favourable host rock preparation. The Mustang showing is also coincident with a felsic volcanic unit and hosts sheared quartz veins and iron-oxide alteration.
The Sirius target is located approximately 2.5 km SW of Springpole and returned this season’s highest rock grab sample with 42.4 g/t Au during a follow-up campaign of favourable targets identified from our 2021 reconnaissance and compilation recommendations. The mineralization is hosted in a structurally complex area with ductile deformed quartz veins associated with local volcanic – sedimentary contacts. Preliminary indications consider a series of intersection lineations within a sheared setting that defines a component of mineralization plunge control open for exploration down dip and along strike.
The Canamer target returned favourable gold results during the 2022 field campaign (15.3 g/t Au) and has been followed up with property scale modelling that has generated a strong preliminary drill ready model focused in targeting local banded iron formation hosted gold mineralization along strike and at depth. The property wide BIFs are hosted in a volcanic sequence where mineralization is structurally controlled in relation to a series of regional folding events. The mineralization is interpreted to include higher grade shoots (example – 244.73 g/t Au over 2.45 m in historic drill hole TWD-DDH-91) where targeting for new discoveries with scale is a focus and will be supported by both geological and geophysical inputs. Preliminary outcomes of the 2022 airborne geophysics are becoming available and further advancing favourable resolution of the target areas.
Upcoming Exploration Activities
Analytical Laboratory and QA/QC Procedures
All sampling completed by First Mining described within exploration programs is subject to a Company standard of internal quality control and quality assurance (QA/QC) programs which include the insertion of certified reference materials, blank materials and a level of duplicate analysis. All rock samples were sent to Activation Laboratories located in Thunder Bay, Ontario where they were processed for gold analysis by 50 gram fire assay, with finish by a combination of atomic absorption and gravimetric methods. Activation Laboratories systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101.
Hazel Mullin, P.Geo., Director, Data Management and Technical Services of First Mining, is a “Qualified Person” for the purposes of NI 43-101, and she has reviewed and approved the scientific and technical disclosure contained in this news release.
About First Mining Gold Corp.
First Mining is a gold developer advancing two of the largest gold projects in Canada, the Springpole Gold Project in northwestern Ontario, where we have commenced a Feasibility Study and permitting activities are on-going with a draft Environmental Impact Statement (“EIS”) for the project published in June 2022 and an Indigenous community-based Anishnaabe Impact Assessment expected in 2023, and the Duparquet, Pitt and Duquesne Gold Projects in Quebec, a collection of advanced stage development assets located on the Destor-Porcupine Fault in the prolific Abitibi region. First Mining also owns the Cameron project in Ontario and a portfolio of gold project interests including the Pickle Crow gold project (being advanced in partnership with Auteco Minerals Ltd.), the Hope Brook gold project (being advanced in partnership with Big Ridge Gold Corp.), an equity interest in Treasury Metals Inc., and a portfolio of 20 royalties.
First Mining was established in 2015 by Mr. Keith Neumeyer, founding President and CEO of First Majestic Silver Corp.
ON BEHALF OF FIRST MINING GOLD CORP.
Daniel W. Wilton
Chief Executive Officer and Director
For further information, please contact:
Toll Free: 1 844 306 8827 | Email: [email protected]
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