VANCOUVER, BC, June 21,
2023 /CNW/ - First Mining Gold Corp. ("First
Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF)
(FRANKFURT: FMG) is pleased to report exploration results from the
Swain and Sol d'Or properties in the Birch-Uchi Greenstone Belt
Project ("BUGB Project" or the "Project") located in northwestern
Ontario, Canada, near the
Company's Springpole Gold Project (the "Springpole Project").
Results from field and drilling programs on these two properties
have identified new gold mineralization in favourable geologic
settings with a potential for unlocking new discoveries. Work
completed in 2022 and work planned for 2023 include components of
soil geochemistry, prospecting and mapping, airborne geophysics,
and diamond drilling programs.
Highlights of the Exploration Advancements:
- Identification of key exploration elements in the Grace
Deformation Zone over a structural strike length of 6.5 km
- Discovery of a new gold-in-soil anomaly, including a gold assay
of 724 ppb Au, with open opportunity for expansion and infill
- Return of rock grab samples from the Sol d'Or property,
including a high-grade sample of 34.7 g/t Au, confirming potential
for a high-grade host environment, and additional samples from the
Swain property, including one at 9.3 g/t Au
- Completion of a 150-line km airborne geophysical survey with
advanced processing and modelling supporting forward targeting
- Identification of six discrete electromagnetic conductive plate
models from geophysical modelling favourable for further targeting
and resolution advancement
- Drilling of five priority holes at the Swain property
validating a geologic setting of favourable host rocks including
notable alteration and mineralization, and including drill
intersects of up to 0.64 g/t Au over 5.6
m, and 0.34 g/t Au over 14.9
m
"We continue to be encouraged by the results of our initial
exploration phases," stated Dan
Wilton, CEO of First Mining. "Building key datasets
and evaluating regional host settings in our consolidated district
has supported the growth of an important prospectivity pipeline
which includes over 80 current targets. The additional
targets and potential mineral discovery in our district-scale
Birch-Uchi land package provides tremendous upside to our already
robust Springpole Project."
Swain – Sol d'Or Targeting
The Swain and Sol d'Or property areas are located approximately
7 km southwest of First Mining's western-most property boundary at
the Springpole Project. Exploration targeting is focused along the
northwest-southeast striking Grace Deformation Zone ("GDZ"), and
the north-south striking Uchi Deformation Zone ("UDZ"), targeting
iron carbonate alteration assemblages, and anomalous arsenic and
copper values generated from recent field exercises are planned for
immediate follow up. The 2022 field campaign by First Mining
returned a high gold-in-soil assay of 724 ppb which
is associated with mapped shearing and quartz veining within
300 m of the GDZ, an area that has
historically produced numerous exploration targets within the
Birch-Uchi Greenstone belt, including the historic Sol d'Or mine
operated in the 1930's. Prospecting by First Mining in the vicinity
of the historic mine returned grab samples with anomalous gold,
including one sample at 34.7 g/t Au, further supporting the
targeted areas' gold endowment. Mineralization is associated with
increased silica and carbonate-altered mafic to intermediate
volcanic units and banded iron formations that are host to
brecciated and discrete quartz veining, and sulphides. The dominant
sulphide mineralization is fine grained, disseminated pyrite and
arsenopyrite, averaging an abundance of 1-5%. Most mineralization
found across the property is associated with, or found within, the
GDZ.
2022 Swain Diamond Drilling
The 2022 Swain diamond drilling campaign comprised 5 drill holes
totalling 1,557 metres and was completed as scout-level drill
testing along and proximal to the GDZ, in areas prospective
for gold mineralization based on geology, grab sampling,
geophysics, and structural architecture (see Figure 1).
Recent and historical field work identifies grab
samples at Swain that returned gold grades of 2.93 g/t Au and 1.59g
/t Au, indicative of notable gold endowment with an opportunity to
advance and vector within a mineralization system over a meaningful
strike length. Mineralization potential has been modelled in 3D
with a focus on outward growth and vectoring to areas of higher
grade and width (see Figure 2). Select assay results from the
Swain drill program are reported below in Table 1, and drill
locations are provided in Table 2.
The exploration drilling campaign carried out on the Swain
property has been successful in advancing base datasets and target
vectoring with exploration validation through the identification of
favourable host rock lithologies over zones of meaningful width
with increased alteration, veining and mineralization. Results have
delineated an area of interest over one kilometre of strike length
coincident with the influence of the GDZ structure, which includes
drill intercepts of 0.64 g/t Au over 5.6
m, and 0.34 g/t Au over 14.9 m
(hole SWL22-001). Initial work has identified important
indicators that support further vectoring down strike of the GDZ
where additional target work-ups will focus on anomalous soil
geochemical values (including 724 ppb Au) at the Hogwarts target
and rock grab sample values including 34.7 g/t Au at the Sol d'Or
target.
Table 1: Assay Highlights from the 2022 Drill Program, Swain
Property
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Au Grade
(g/t)
|
SWL22-001
|
63.46
|
78.33
|
14.87
|
0.34
|
including
|
65.68
|
66.07
|
0.39
|
2.51
|
and
|
118.86
|
124.5
|
5.64
|
0.64
|
including
|
124
|
124.5
|
0.5
|
4.59
|
SWL22-002
|
116.1
|
118.3
|
2.2
|
0.69
|
and
|
126.3
|
134.9
|
8.6
|
0.26
|
and
|
326
|
329
|
3
|
0.23
|
and
|
414.7
|
417
|
2.3
|
0.27
|
SWL22-003
|
163.97
|
165.2
|
1.23
|
1.18
|
SWL22-004
|
208
|
215.3
|
7.3
|
0.09
|
and
|
245.65
|
249.2
|
3.55
|
0.27
|
SWL22-005
|
16
|
18.33
|
2.33
|
0.15
|
and
|
42
|
43.06
|
1.06
|
0.43
|
and
|
54
|
57
|
3
|
0.13
|
and
|
62
|
66
|
4
|
0.14
|
and
|
75
|
89
|
14
|
0.16
|
and
|
94
|
104
|
10
|
0.23
|
*Reported lengths
are drilled core lengths, true widths of all intercepts have not
yet been determined; all assay values are uncut
|
Table 2: 2022 Drill Locations, Swain Property
Hole ID
|
Easting
(UTM)
|
Northing
(UTM)
|
Depth (m)
|
Azimuth ⁰
|
Dip ⁰
|
SWL22-001
|
529295
|
5683550
|
383
|
180
|
-45
|
SWL22-002
|
529439
|
5683504
|
437
|
150
|
-50
|
SWL22-003
|
529848
|
5683192
|
256.2
|
180
|
-50
|
SWL22-004
|
530253
|
5683432
|
305
|
210
|
-50
|
SWL22-005
|
530243
|
5683064
|
176
|
220
|
-45
|
Note: Collar
coordinates in UTM NAD 83 z15
|
2022 Exploration Field Campaign
Soil Survey Program
A soil survey was designed across the properties to infill any
soil sampling gaps from historical data across the GDZ and UDZ. A
soil grid targeting the GDZ was designed at 300 m line spacing and 100
m station spacing, and a soil grid targeting the UDZ was
designed at 200 m line and station
spacing. A total of 159 soil samples were collected across the
Swain property. This soil survey was successful in delineating new
high priority targets for additional follow-up work and testing.
This is highlighted by the 724 ppb Au soil sample which was
collected at the newly found Hogwarts target. Infill soil sampling
and mapping programs have been designed for follow up in 2023. This
survey was also successful in further enhancing the understanding
of structures across the property from elevated gold pathfinder
elements found along the GDZ and UDZ. A total of 26 soil samples
reported below detection limits of 5 ppb Au.
Mapping and Prospecting Program
A total of 129 grab samples were collected during the 2022 field
campaign across the properties. Highlights from the grab sample
results include gold values of 34.7 g/t, 9.3 g/t, 2.9 g/t, and 1.6
g/t (see Table 3). Each highlighted sample was taken from a
different target across the properties, demonstrating the potential
gold endowment across multiple structures along strike.
- Bullseye Target – sheared mineralized mafic volcanics
with chalcopyrite and pyrite grab sample towards the southeast
portion of the SDZ returning 9.3 g/t Au; the mineralized structure
was mapped in the 2022 field campaigns and strikes continuously for
200 m towards the northeast.
- Snake Target – samples returned gold values including
1.6 g/t and 34.7 g/t, which were collected from sulphide
mineralized quartz veining proximal to the historic Sol d'Or areas
of development
- Mystical Target – shear-hosted intermediate volcanics
returned 2.9 g/t Au in a mapped mineralized structure along the
GDZ
Table 3: Significant Grades from 2022 Grab Sampling
Property
|
Sample
ID
|
Gold Grade
(g/t)
|
Sample
Type
|
Target
Area
|
Sol
d'Or
|
B1055352
|
34.7
|
Muck
|
Snake
|
Swain
|
B1055051
|
9.3
|
Grab
|
Bullseye
|
Swain
|
B1055032
|
2.9
|
Grab
|
Mystical
|
Sol
d'Or
|
B1055381
|
1.6
|
Muck
|
Snake
|
2022 Airborne Geophysics Campaign
In partnership with SkyTEM, a total of 150-line km of airborne
magnetics and electromagnetics ("EM") surveying was completed
across the Swain & Sol d'Or properties. The survey was
successful in confirmation and refinement of major structures and
lithologies as well as identifying new key focal points of
interest. The magnetics survey well supported high resolution
delineation of the GDZ and UDZ structures, and further identifies
key stratigraphic units of iron formation and ultramafic intrusive
bodies. These units were then confirmed and supported in
interpretation with mapping and soil geochemical data collected in
2022. Additional processing work with Mira Geosciences identified
six key EM conductive plates as favourable follow-up targets for
advancement in 2023. The EM conductor modelling is highlighted by
two plates modelled within the Hogwarts target area. These EM
targets will be further enhanced with increased mapping and soil
geochemical resolution, followed by a detailed 3D geological model
and drill targeting program.
Priority Swain Targets
In 2021, First Mining commenced field campaigns targeting
initial field validation and assessment of historical showings. Two
of the historical showings returned elevated gold; Swain Lake
North, which is characterized as foliation parallel, quartz
vein-hosted mineralization, returned 6.6 g/t Au; and Hodgson, characterized as quartz vein and
felsic volcanic host units, returned samples with elevated Au over
a 30 m long exposure. Multi-element
assay results indicate a strong association between gold and
arsenic anomalies at the Hodgson
target as well as the Bobarris West target, a signature that has
been identified further along the GDZ.
The Mystical target is hosted within a sheared intermediate
volcanic unit with notable chalcopyrite mineralization,
returning a 2.9 g/t Au grab sample with results aligned to
prospectivity elements of the exploration model. Additional
resolution of the area has been further established in drilling of
hole SWL22-002 specifically testing the target further at
depth.
The Hogwarts target was discovered through a significant
gold-arsenic soil anomaly returned from the 2022 field campaign and
was further prioritized through the 2022 airborne geophysics survey
and modelling. This is a priority and prospective target for the
2023 field season, with infill mapping and soil sampling further
planned to expand the geological potential and scalability of this
target while understanding the regional association with known
prospective targets like the Sol d'Or mine trend.
The Snake target was discovered through historic Sol d'Or mine
development review, which demonstrated the potential for increased
gold grades within areas of the favourable targets trend. The
2023 field season will focus on advancing the structural controls
of the vein system along the Sol d'Or trend, attempting to unlock
the understanding of higher-grade settings.
2023 Swain Target Outlook
For 2023, field campaigns on the Swain and Sol d'Or property
areas will focus on follow-up and infill sampling, with additional
detailed mapping to be focused on deformation zones and projections
for the extension of alteration halos, structure and
mineralization. Findings will further support integrated
exploration models followed by proposed drilling campaigns in the
fall of 2023.
Birch-Uchi Greenstone Belt Project
The Birch-Uchi Greenstone Belt Project represents regional scale
exploration opportunities that have been consolidated by First
Mining surrounding the Springpole Project. This land tenure coupled
with the Springpole Project, also located in the Birch-Uchi
Greenstone Belt, consists of >70,000 hectares and presents a
strong opportunity for new discoveries in an area that is
historically underexplored and has only seen a fraction of the
exploration work that has been done in the neighbouring
Red Lake and Pickle Lake greenstone belts that have been
subject to earlier consolidation and discovery cycles.
First Mining has initiated district-scale screening of the
Birch-Uchi Project area through a multi-phase commitment to explore
and enhance mineral potential within the region.
Analytical Laboratory and QA/QC Procedures
All sampling completed by First Mining within its 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. Samples from the 2022 exploration
programs were sent to Activation Laboratories located in
Thunder Bay, Ontario where they
were processed for gold analysis by 50 gram fire assay with an
atomic absorption finish, and multi-element analysis (including
silver) by inductively coupled plasma (ICP) method with an aqua
regia digest for soil samples or four acid digest for core and grab
samples. Activation Laboratories systems conform to requirements of
ISO/IEC Standard 17025 guidelines and meet assay requirements
outlined for NI 43-101.
Qualified Person
Hazel Mullin, P.Geo., Director,
Data Management and Technical Services of First Mining, is a
"Qualified Person" for the purposes of NI 43-101 Standards of
Disclosure for Mineral Projects, 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 the Duparquet, Pitt
Gold, Duquesne and Porcupine
East Gold Project in Quebec, a
collection of advanced-stage development assets located on the
Destor-Porcupine Fault Zone in the prolific Abitibi region.
First Mining also owns the Cameron Gold 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.), and a large equity interest in Treasury Metals
Inc.
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
Cautionary Note Regarding Forward-Looking
Statements
This news release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
Canadian and United States
securities legislation including the United States Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are made as of the date of this news release.
Forward-looking statements are frequently, but not always,
identified by words such as "expects", "anticipates", "believes",
"plans", "projects", "intends", "estimates", "envisages",
"potential", "possible", "strategy", "goals", "opportunities",
"objectives", or variations thereof or stating that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions.
Forward-looking statements in this news release relate to
future events or future performance and reflect current estimates,
predictions, expectations or beliefs regarding future events. All
forward-looking statements are based on First Mining's or its
consultants' current beliefs as well as various assumptions made by
them and information currently available to them. There can be no
assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions and projections on the date the statements
are made and are based upon a number of assumptions and estimates
that, while considered reasonable by the respective parties, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Such factors
include, without limitation the Company's business, operations and
financial condition potentially being materially adversely affected
by the outbreak of epidemics, pandemics or other health crises,
such as COVID-19, and by reactions by government and private actors
to such outbreaks; risks to employee health and safety as a result
of the outbreak of epidemics, pandemics or other health crises,
such as COVID-19, that may result in a slowdown or temporary
suspension of operations at some or all of the Company's mineral
properties as well as its head office; fluctuations in the spot and
forward price of gold, silver, base metals or certain other
commodities; fluctuations in the currency markets (such as the
Canadian dollar versus the U.S. dollar); changes in national and
local government, legislation, taxation, controls, regulations and
political or economic developments; risks and hazards associated
with the business of mineral exploration, development and mining
(including environmental hazards, industrial accidents, unusual or
unexpected formations, pressures, cave-ins and flooding); the
presence of laws and regulations that may impose restrictions on
mining; employee relations; relationships with and claims by local
communities, indigenous populations and other stakeholders;
availability and increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and
development; title to properties; and the additional risks
described in the Company's Annual Information Form for the year
ended December 31, 2022 filed with
the Canadian securities regulatory authorities under the Company's
SEDAR profile at www.sedar.com, and in the Company's Annual
Report on Form 40-F filed with the SEC on EDGAR.
First Mining cautions that the foregoing list of factors that
may affect future results is not exhaustive. When relying on our
forward-looking statements to make decisions with respect to First
Mining, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
First Mining does not undertake to update any forward-looking
statement, whether written or oral, that may be made from time to
time by the Company or on our behalf, except as required by
law.
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