First Mining Confirms New Area of Mineralization at Central Duparquet and Announces Management Changes
- Positive results from the 2023 exploration drilling campaign
- Identification of a new area of mineralization continuity at Central Duparquet
- High-grade zone at CDHG Zone with 2.73 g/t Au over 6.15 m
- CEO's positive outlook on the project's resource growth potential
- Validation of the existing resource model
- None.
- Exploration Between Central Duparquet and Dumico Resource Areas Returns 1.71 g/t Au over 8.9 m, Confirming Strike Continuity
- Central Duparquet High Grade Zone Returns 2.73 g/t Au over 6.15 m, Unlocking Mineralization Potential at Depth
A new area of mineralization continuity was identified at
In addition, drilling at the CDHG Zone in the area of the historical
"These latest drill holes are building momentum in the untested upside potential that the Duparquet Gold Project has to offer," stated Dan Wilton, CEO of First Mining. "With a positive PEA announced in September 2023 and continued success in our team's exploration strategy, First Mining is continuing to demonstrate the resource growth potential at this critical strategic project in the centre of the prolific Abitibi Greenstone Belt."
Hole ID | From (m) | To (m) | Length | Grade (Au g/t) | Target |
DUP23-005 | 292 | 296 | 4 | 1.78 | CDHG Zone |
DUP23-005 | 306 | 312.15 | 6.15 | 2.73 | CDHG Zone |
DUP23-006 | 304.6 | 313.5 | 8.9 | 1.71 | Valentre Target |
DUP23-006 | 353.9 | 355.9 | 2 | 2.57 | Valentre Target |
DUP23-006 | 363.8 | 371.4 | 7.6 | 1.29 | Valentre Target |
DUP23-007 | 115 | 119.5 | 4.5 | 1.34 | CDHG Zone Extension |
DUP23-008 | 235 | 238 | 3 | 2.04 | CDHG Zone |
DUP23-008 | 243 | 254 | 11 | 2.83 | CDHG Zone |
*Reported intervals are drilled core lengths (true widths are estimated at 75
First Mining commenced a foundational drilling program in May 2023 with a campaign that is focusing on the advancement of newly defined targets, as well as validating and expanding on resource growth and optimization opportunities.
Results returned from the exploration drill holes are continuing to demonstrate that this project has significant potential across the wholly-owned land tenure, through the confirmation of the new zones and targets at
Drilling at
The CDHG Zone includes drill holes DUP23-005, DUP23-007 and DUP23-008 which were drilled to test the steep easterly plunge of the
Drill hole DUP23-007 targeted and validated a depth extension of the CDHG Zone and returned 1.34 g/t Au over 4.5 m hosted within syenite, as well as 1.01 g/t Au over 3.8 m and 1.16 g/t Au over 5.1 m hosted within sheared and altered basalt units interbedded with syenites.
Drill hole DUP23-008 was focused on testing the extent of mineralization from surface and at depth, as well as the strike continuity of mineralization intercepted in DUP23-006, located 350 m to the east. Drill results for DUP23-008 returned 2.04 g/t Au over 3 m, and 2.83 g/t Au over 11 m, including 4.40 g/t Au over 3 m, and extends the mineralization which is hosted within a brecciated syenite-basalt contact with chlorite and silica alteration.
Drill holes DUP23-005, DUP23-007 and DUP23-008 were successful in confirming the depth extension of the current wireframes and interpolated block model to a depth of approximately 400 m below the surface, which supports further follow-up opportunities for unlocking higher-grade trends at depth (Figure 2).
The Valentre target is located between the
A total of 1,923 m of drilling was completed at the Central Duparquet Target in four holes. Significant assay results from the
The drilling results returned from the Central Duparquet Target validate the existing resource model and support the delineation and advancement of higher-grade trends. Further drilling to demonstrate continuity along strike and at depth between the
"We are looking forward to further the assay results from our 2023 drilling campaign and launching into the next round of drill targeting for 2024, where the focus will be to further advance key targets identified through the 2023 campaign," stated James Maxwell, First Mining's Vice President of Exploration.
Hole ID | From | To (m) | Length (m) | Grade (Au g/t) | |
DUP23-005 | 292 | 296 | 4 | 1.78 | |
DUP23-005 | 306 | 312.15 | 6.15 | 2.73 | |
DUP23-005 | inc. | 310.3 | 311 | 0.7 | 6.98 |
DUP23-005 | and inc. | 311.5 | 312.15 | 0.65 | 10.60 |
DUP23-006 | 79.5 | 82 | 2.5 | 2.07 | |
DUP23-006 | inc. | 80 | 80.5 | 0.5 | 5.96 |
DUP23-006 | 118 | 121 | 3 | 1.82 | |
DUP23-006 | 304.6 | 313.5 | 8.9 | 1.71 | |
DUP23-006 | inc. | 305.5 | 306.5 | 1 | 5.11 |
DUP23-006 | 353.9 | 355.9 | 2 | 2.57 | |
DUP23-006 | inc. | 353.9 | 354.9 | 1 | 4.72 |
DUP23-006 | 363.8 | 371.4 | 7.6 | 1.29 | |
DUP23-006 | inc. | 369.6 | 371.4 | 1.8 | 3.33 |
DUP23-007 | 115 | 119.5 | 4.5 | 1.34 | |
DUP23-007 | 161.5 | 165.3 | 3.8 | 1.01 | |
DUP23-007 | 418.5 | 423.6 | 5.1 | 1.16 | |
DUP23-008 | 235 | 238 | 3 | 2.04 | |
DUP23-008 | 243 | 254 | 11 | 2.83 | |
DUP23-008 | inc. | 250 | 253 | 3 | 4.40 |
*Reported intervals are drilled core lengths (true widths are estimated at 75
Hole ID | Azimuth (°) | Dip (°) | Length (m) | Easting | Northing |
DUP23-005 | 175 | -60 | 429 | 633087 | 5374078 |
DUP23-006 | 180 | -45 | 459 | 633507 | 5374089 |
DUP23-007 | 180 | -68 | 660 | 633153 | 5374095 |
DUP23-008 | 180 | -45 | 375 | 633153 | 5374095 |
Note: Collar coordinates in UTM NAD 83 z17
The 2023 drilling and field campaigns at the Duparquet Gold project have provided the First Mining exploration team with a strong foundational understanding of the geoscience, data gaps and opportunities for exploration advancement. The Company is aiming to complete its Phase 2 drilling campaign this winter while actively advancing the drilling strategy for an additional Phase 3 program alongside airborne geophysics and LiDAR survey programs in areas of opportunity for data resolution enhancement.
The Duparquet Project is geologically situated in the southern part of the Abitibi Greenstone Belt and is geographically located approximately 50 km north of the city of
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. Core samples from the 2023 drilling program at
Jeff Reinson, the Company's Chief Operating Officer, will be leaving his role at First Mining effective January 19, 2024. Following Mr. Reinson's departure, James Maxwell will assume the role of Vice President, Exploration & Project Operations, reporting directly to the CEO, and will take overall responsibility for operations at Springpole,
"We would like to thank Jeff for his service and contributions to First Mining," stated Dan Wilton, CEO of First Mining. "He has played a very important role in advancing our Springpole and
Louis Martin, P.Geo., Senior Geologic Consultant of First Mining, is a "Qualified Person" for the purposes of NI 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical disclosure contained in this news release.
First Mining is a gold developer advancing two of the largest gold projects in
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
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and
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
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.
The Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the
Technical disclosure contained in this news release has not been prepared in accordance with the requirements of
NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.
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SOURCE First Mining Gold Corp.
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