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First Mining Announces Work Programs To Advance Canadian Gold Projects Portfolio

Mining News - Published on Mon, 17 Jun 2019

Image Source: First Mining Gold
First Mining Gold Corp announced the commencement of work programs to advance its Canadian gold asset portfolio. The Company’s Springpole and Goldlund projects in Ontario are the primary focus, with most of the funding dedicated to the advancement of these two strategic assets. Mr Daniel W Wilton, First Mining’s CEO, said that “On the back of our up sized equity financing, we are excited to commence our work program to advance our portfolio of high-quality Canadian gold assets. The primary focus is to advance and de-risk our Springpole and Goldlund gold projects, both located in northwestern Ontario, a very well-known and prolific mining district. We believe an updated PEA at Springpole will provide the market with a better understanding of this strategic asset’s value potential and annual production capability under an optimized flowsheet as a result of our successful metallurgical studies. Goldlund will be advanced via further drilling, as we continue to work towards unlocking this large district’s potential. We are excited to showcase the significant value that exists within our strategic portfolio of high-quality assets.”

At Springpole, the goal in 2019 is to update the current Preliminary Economic Assessment 1 and continue to advance permitting. The updated PEA will reflect updated metal recoveries, capital cost and operating cost estimates from the revised process flow sheet, incorporating flotation and fine grinding as described in First Mining’s February 19, 2019 press release. First Mining believes that incorporating the increased recoveries will further position the project as a “Tier 1” asset among gold development projects in Canada.

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Posted By : Sanju Moirangthem on Mon, 17 Jun 2019
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