Signs Earn-In Agreement On High-Grade Island
First Mining Gold Corp.(TSX:FF) has entered into an earn-in agreement with Pelangio Exploration Inc. pursuant to which First Mining can earn to an 80% interest in the Birch Lake and Birch Lake West properties.
The Birch Lake Properties include the High Grade Island prospect, which is located to the north-east of First Mining’s Springpole Gold Project in north-western Ontario.
The Birch Lake Properties cover approximately 3,700 hectares. With the addition of the Birch Lake Properties, First Mining now controls close to 70,000 hectares in the Birch-Uchi Greenstone Belt.
“We are extremely excited to continue our consolidation efforts in the region by bringing in the High Grade Island prospect, as it represents one of the most prospective areas in the Birch-Uchi Greenstone Belt,” stated Dan Wilton, CEO of First Mining.
“Despite being explored since the 1980s and with demonstrated high-grade drill intersections of up to 245 g/t gold, High Grade Island has been underexplored relative to other high-grade camps in the belt and will be a priority target for us as we embark on our first broader regional exploration program next year.
“Through several land consolidation transactions over the last few months, First Mining now holds some of the most prospective areas of the Birch-Uchi Greenstone Belt, and with future exploration success these new targets have the potential to significantly increase the grade profile, resource potential and economics at our Springpole Gold Project.”
High Grade Island
High Grade Island is located on Pelangio’s Birch Lake property and lies approximately two km northeast of the Springpole Gold Project and approximately 120 km northeast of Red Lake.
Two spatially separate zones of mineralisation have been identified on High-Grade Island: the Main Central Zone located at the centre of the island, which consists of greenstone-hosted, gold-quartz vein type mineralization, and the Western Zone, located 700 m to the west in the north-western part of the island, which comprises iron formation-hosted, disseminated gold mineralisation. The two zones are related to a single deformation zone interpreted to be up to 120 m in width and with a total potential strike length of over 1,100 m.
The Birch Lake property was explored by Dome Exploration Canada (later Placer Dome) from 1986 to 1996, whose work consisted of mapping, geophysical and geochemical surveys along with follow-up diamond drilling, which was mainly focused on the Main Central Zone.
Drilling results included large intercepts (4.2 m at 8.7 g/t Au in hole P255A-074) as well as several high-grade intercepts associated with coarse visible gold (2.0 m @ 105 g/t Au, including 1.0 m at 209 g/t Au, in hole P255A-078).
The majority of the Placer Dome drilling tested the Main Central Zone over a strike length of 350 m and to a depth of 200 m. Additional drilling was completed by Trade Winds Ventures Inc. in 2004 and 2005 to evaluate the Main Central Zone between 200 and 350 meters below surface.
Numerous gold intercepts were noted including 34.5 g/t Au over 9.85 m from 239.15 to 249.0 m (hole TWBL-096) and 244.7 g/t Au over 2.45 m from 357.85 to 360.30 m (hole TWBL-097).
The Western Zone is located in the same deformation zone as the Main Central Zone but the mineralization is associated with an iron formation host.
There has been limited drilling in this zone to date with the best intercept from drill hole 028, which returned 5 m at 1.6 g/t Au from a near surface intercept.
High Grade Island is accessible from First Mining’s Springpole Gold Project by boat during the summer months and by snowmobile or ice road during the winter months.
For further information please visit: https://firstmininggold.com/
