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First Mining Gold Corp. (symbol: FFMGF) is a mineral bank and resource project incubator. The company focuses on acquiring mineral assets at low valuations, waiting for commodity and mining project markets to improve. They plan to enter agreements with other parties to move projects forward, holding residual interests. These interests may include royalties, metal streams, minority interests, or equity positions. The goal is to have projects generating cash flow for shareholders, distributed as dividends.
Highlights from 2023 drilling program at the Duparquet Gold Project in Quebec include positive results, defining new gold zones, extending mineralization, and exploring significant discovery and follow-up targets. The 2024 drilling program aims to build on success, targeting growth opportunities within the mineral resource and potential higher-grade settings.
First Mining Gold Corp. (TSX: FF, OTCQX: FFMGF) announced the sale of its non-core Eagle Claims in Manitoba to Grid Metals Corp. for a total value of C$300,000 in cash, 250,000 common shares of Grid Metals, and a future contingent payment of C$350,000, along with a 2.0% NSR royalty on the claims. CEO Dan Wilton emphasized that this transaction demonstrates the value in First Mining's asset portfolio, allowing the company to retain an interest in battery metals through its shareholdings in Grid Metals. First Mining views this as a strategic move to streamline its focus on core gold projects while participating in the growing battery minerals sector.
First Mining Gold Corp. (TSX: FF, OTCQX: FFMGF) has announced the initiation of a 5,000 metre exploration drilling program at its Duparquet Gold Project in Quebec's Abitibi Region. This project boasts a Measured and Indicated Mineral Resource of 3.4 million ounces of gold and an Inferred Mineral Resource of 1.6 million ounces. The drilling will focus on newly developed targets and potential resource growth. First Mining has identified 25 initial target areas based on recent 3D geoscience modeling, aiming for significant resource expansion. A Preliminary Economic Assessment is also underway, expected to be completed in the latter half of 2023. The company has consolidated land tenure around Duparquet, enhancing its project value in the prolific Abitibi gold district.
First Mining Gold Corp. announced results from its 2022 drilling program at the Springpole Gold Project in Northwestern Ontario. The campaign consisted of 62 drill holes totaling 5,834 meters, aimed at advancing geotechnical, hydrogeological, and geochemical studies. Significant findings include the identification of the SW Extension Zone, suggesting additional mineralization beyond the current resource area. Key intercepts from the drilling program include 1.08 g/t Au over 30.0 m in hole SG22-008 and 0.98 g/t Au over 33.0 m in hole SG22-021. The current resource is noted at 4.6 million ounces of measured and indicated gold. The company is optimistic about further resource growth following these encouraging results, as they proceed towards a Feasibility Study for the project.
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