First Mining Starts Exploration Drilling Program

First Mining Gold Corp has commenced preparations for an initial 5,000 metre exploration drilling program at its Duparquet Gold Project in the Abitibi Region of Quebec. The exploration drilling program will focus on advancing newly developed exploration targets, as well as resource growth and several optimization opportunities.

The Duparquet Project has a Measured and Indicated Mineral Resource of 3.4 million ounces of gold grading 1.55 gold/tonne, and an Inferred Mineral Resource of 1.6 million ounces of gold grading to 1.36 g/t, as set out in the technical report entitled NI 43-101 Technical Report and Mineral Resource Estimate Update for the Duparquet Project, Quebec, Canada, dated October 6, 2022, which was prepared for First Mining by InnovExplo Inc. in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).

“We are very excited to commence this important foundational drilling program at our recently consolidated Duparquet Gold Project, located in a premier mining jurisdiction of Quebec” stated Dan Wilton, CEO of First Mining. “First Mining has been able to identify numerous high priority prospective targets that will complement the historical drilling of more than 270,000 metres completed at the project and we expect that the exploration program will continue to demonstrate the untapped exploration upside in this prolific gold district.”

 “We have also commenced a Preliminary Economic Assessment (PEA) for the Duparquet Project and expect that to be completed in the second half of 2023,” added Wilton. “The existing mineral resource at the Duparquet Project provides a solid foundation, but we are most excited about the potential for significant resource growth that we hope to demonstrate through this initial drill program.”

Exploration & Development Highlights
•    First opportunity for First Mining to unlock resource growth and exploration potential in its recently consolidated land tenure at the Duparquet Project.
•    Newly completed 3D geoscience modelling focused on lithology, structure, and mineralization in an exploration targeting context.
•    Modern exploration targeting strategy has identified 25 initial target areas with the potential of unlocking more with further data consolidation.
•    Exploration program pipeline advancing on a multi-phased approach using contemporary geological, geochemical, and geophysical techniques.
•    Near term completion of an initial drill program targeting 5,000 metres.
•    Targeting delivery of a Preliminary Economic Assessment for the Duparquet Project in the second half of 2023.
 
Duparquet Exploration Opportunity
In 2022 and 2023, First Mining consolidated its significant land tenure and ownership surrounding its Duparquet, Pitt Gold and Duquesne properties. 
A strong history of drill programs and surface exploration campaigns has provided a fundamental basis for driving key exploration targets and identifying 25 targets focused on optimization and exploration. 

The first round of targets consists of extensions along strike and down plunge of known modelled gold horizons in syenite and surrounding sedimentary and volcanic host rocks, areas introduced through project consolidation because of the acquisition of the Porcupine East claims from IAMGOLD and other regional targets located in underexplored areas of the project.
First Mining is taking a phased drilling approach, designing exploration programs with strategies that instill confidence in historical modelling, as well as unlocking opportunities for expansion along strike and at depth of existing delineated resources. 

The Duparquet Project is geologically situated in the southern part of the Abitibi Greenstone Belt and geographically is located approximately 50 km north of Rouyn-Noranda. The Duparquet Project is part of a property ownership package that trends over several kilometres of strike length along the prolific Destor-Porcupine Fault Zone, along with numerous mineralized splays and influential secondary lineaments. 

The Duparquet Project includes the past-producing Beattie and Donchester mines and as well as the Central Duparquet and Dumico deposits. In addition, the project is located adjacent and contiguous to our Pitt Gold and Duquesne projects, as well as the Porcupine East claim blocks that we recently acquired from IAMGOLD.

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 an equity interest in Treasury Metals Inc.

For further information, please contact:
Toll Free: 1 844 306 8827 | Email: info@firstmininggold.com
Paul Morris  Director, Investor Relations Email: paul@firstmininggold.com
 

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