First Mining Provides an Exploration Update for the Pickle Crow Gold Project
Multiple Walk-Up Drill Targets Identified by Auteco; Drilling Campaign to Start in Late May
March 30, 2020 – Vancouver, BC – First Mining Gold Corp. (“First Mining” or the “Company”) (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to provide an exploration update on its Pickle Crow Gold Project (“Pickle Crow” or the “Project”) located in Ontario, Canada. Auteco Minerals Ltd (“Auteco”) (ASX: AUT), First Mining’s partner on Pickle Crow, is advancing the Project and may earn up to an 80% interest in the Company’s wholly-owned subsidiary PC Gold Inc. (“PC Gold”), which owns the Project.
Auteco has announced that they have commenced field activities, data compilation and resource modelling, and are currently anticipating minimal impact on their 2020 field objectives from the developing COVID-19 situation. Auteco’s review of the available historical drill core has identified multiple shallow, drill-ready, regional targets associated with four major mineralized shear zones within the Project area. Cumulatively, there are more than 110 kilometres of underexplored strike on the structures which are prospective for high-grade orogenic gold.
Auteco intends to commence its first diamond drilling campaign at Pickle Crow, totalling 5,000 metres, in late May, and plans to test high potential, walk-up targets regionally and in the surrounding mine area. Auteco also expects to complete a JORC 2012 compliant resource update for Pickle Crow in early Q2. This resource update by Auteco will incorporate their geological review and will focus on the high-grade, underground mineable resource areas at the Project.
Dan Wilton, CEO of First Mining, stated “We are excited that our partner for Pickle Crow, Auteco, is driving forward with exploration at Pickle Crow. The Project is benefiting from a renewed look by the strong technical team at Auteco, including a new geological review. The work the Auteco team is doing provides an opportunity for a better understanding of Pickle Crow’s potential, and we look forward to their first set of drill results on the Project this summer.”
Auteco’s Executive Chairman, Ray Shorrocks, commented “Auteco intends to commence an initial shallow 5,000 metre diamond drill program in late May, targeting shallow, high-grade, walk-up drill targets to bring further resource areas into JORC compliance. At the same time, Auteco geologists have been working to integrate regional datasets and, in the process, have identified multiple, high-grade and drill ready regional targets, related to four major structures with more than 110 kilometres of prospective strike. Work is continuing across the 320 km2 (32,000 ha) project area with geological, structural and geophysical reviews ongoing to be followed up with targeting, on-ground testing and drilling in the coming field season.”
The four major mineralized shear zones identified by Auteco within the Project area are regional scale structures that formed the conduits for gold mineralization in the Pickle Lake Greenstone Belt. The structures include the Core Mine Shear Zone (where the past-producing Pickle Crow, Central Patricia and Dona Lake Gold mines are situated), as well as the less explored Tarp Lake, Cohen-MacArthur and East Pat Shear Zones. A map showing these regional shear zones can be viewed here.
- Tarp Lake: The regional scale shear zone, which trends north-northeast and extends more than 20 kilometres through the western edge of the Project tenements, has limited historical drilling over the 14 kilometres of identified strike length with three main target areas identified. Historical drill results from the Tarp Lake Target on this shear zone include 1.5 g/t gold over 36.0 metres (from 158 metres in TL-29), 7.2 g/t gold over 4.6 metres (from 76.9 metres in GPT-90-12) and 4.4 g/t gold over 5.2 metres (from 246.6 metres in CGR91-15). At the Metcalf Target, historical drill results included 74.4 g/t gold over 1.8 metres (from 164 metres in S-18) and 28.5 g/t gold over 1.8 metres (from 114.3 metres in S-11).
- Core Mine Shear: This zone hosts the past-producing Pickle Crow mine. In addition to the historical mine, multiple high-grade gold targets have been identified. These include the Springer Shaft Target, F Vein Target and SW Powderhouse Target. At the Springer Shaft Target, reported historical gold production amounted to 13,000 ounces at 24 g/t gold. Unmined drill intersections include 36.6 g/t gold over 1.7 metres (from 15.1 metres in CPSH-88-01) and 69.4 g/t gold over 0.8 metres (from 16.1 metres in CPSH-88-03). At the F Vein Target, historical drill results include 9.3 g/t gold over 4.6 metres (from 27.1 metres in CP-88-92) including 21.4 g/t gold over 2.4 metres. The SW Powderhouse Target includes historical drill results of 7.3 g/t gold over 6.1 metres (from 86.6 metres in PL04-26) and 11.1 g/t gold over 3.0 metres (from 119.62 metres in PL04-29).
- Cohen-MacArthur Shear: This zone has been observed on surface and in diamond drill core and has been identified as a 50-metre-wide high strain zone with coincident, intense ankerite-sericite alteration and quartz-carbonate veining. Due to subdued topography and glacial till covering most of the strike length, limited exploration of second order structures has been completed. However, drilling around outcropping mineralization has identified two target areas: MacArthur and Kawinogans. The MacArthur target includes historical drill results of 1.5 g/t gold over 14.3 metres (from 30.5 metres in PC-10-067) and the Kawinogans target includes historical drill results of 1.4 g/t gold over 23.5 metres (from 196 metres in PC-10-092).
- East Pat Shear: This zone has been underexplored due to subdued topography and glacial till cover. It was identified and drilled by First Mining’s predecessor, PC Gold, in 2010 in the East Pat Target area. Drill results from this area included 2.2 g/t gold over 35.7 metres (from 214.5 metres in PC-10-108) and 7.7 g/t gold over 6.0 metres (from 232 metres in PC-11-145).
Pickle Crow is one of Canada’s highest-grade historical gold mines. It operated from 1935 until 1966, during which time it reportedly produced almost 1.5 million ounces of gold at an average grade of 16.14 g/t. The property consists of ~190 km2 (19,000 hectares) of tenure covering a major gold province. Auteco recently increased its landholding near the Project by staking an additional 130 km2 (13,000 ha) of land contiguous to Pickle Crow, thereby increasing the combined property’s land package to over 320 km2 (32,000 ha) (see news release dated February 18th, 2020). First Mining acquired the Project in November 2015 through its acquisition of PC Gold Inc.
There has been limited exploration on the Property subsequent to when mining ceased in 1966, with the latest exploration focused on development of remnant resources in proximity to the old mine infrastructure. Auteco’s development focus is on returning to first principles, completing a new geological review and applying modern exploration technologies in their advancement of the Project. Auteco has a strong focus on discovering and developing new project scale, high-grade, near surface gold resources.
A map showing the location of Pickle Crow and regionally significant projects can be viewed at:
A map showing the identified regional shear zones within the Project tenement area can be viewed at:
An inset map showing the various targets within the Project tenement area can be viewed at:
Auteco Minerals Limited (ASX: AUT) is an emerging mineral exploration company currently focused on advancing high-grade gold resources at the Pickle Crow Gold Project in Ontario, Canada. The Auteco Board of Directors and technical management team has a proven track record of discovering gold and creating wealth for shareholders and all stakeholders in recent years.
Hazel Mullin, P.Geo., Director, Data Management and Technical Services of First Mining, is a “Qualified Person” for the purposes of NI 43-101, and she has reviewed and approved the scientific and technical disclosure contained in this news release.
About First Mining Gold Corp.
First Mining Gold Corp. is a Canadian-focused gold exploration and development company advancing a large resource base of 7.4 million ounces of gold in the Measured and Indicated categories and 3.8 million ounces of gold in the Inferred category. First Mining’s primary focus is the development and permitting of its Springpole Gold Project and the advanced exploration of its Goldlund Gold Project, both located in northwestern Ontario. Springpole is one of the largest undeveloped gold assets in Canada, with permitting and a Pre-Feasibility Study underway. Goldlund is an advanced exploration stage asset where drilling in 2020 is planned to define both the extension of the existing resource area and to better define the regional scale potential. First Mining’s eastern Canadian property portfolio also includes Cameron, Pickle Crow, Hope Brook, Duparquet, Duquesne, and Pitt.
First Mining was created 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
For further information, please contact:
Mal Karwowska | Vice President, Corporate Development & Investor Relations
Direct: 604.639.8824 | Toll Free: 1.844.306.8827 | Email: email@example.com
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This news release includes certain "forward-looking information” and "forward-looking statements” (collectively "forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects”, "anticipates”, "believes”, “plans”, “projects”, "intends”, "estimates”, “envisages”, "potential”, "possible”, “strategy”, “goals”, “objectives”, or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.
Cautionary Note to United States Investors
This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this news release have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum 2014 Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the SEC, and mineral resource and reserve information contained herein may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term "resource” does not equate to the term "reserves”. Under U.S. standards, mineralization may not be classified as a "reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC's disclosure standards normally do not permit the inclusion of information concerning "measured mineral resources”, "indicated mineral resources” or "inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves” by U.S. standards in documents filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. U.S. investors should also understand that "inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "inferred mineral resource” will ever be upgraded to a higher category. Under Canadian rules, estimated "inferred mineral resources” may not form the basis of feasibility or pre-feasibility studies except in rare cases. Investors are cautioned not to assume that all or any part of an "inferred mineral resource” exists or is economically or legally mineable. Disclosure of "contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves” by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for identification of "reserves” are also not the same as those of the SEC, and reserves reported by the Company in compliance with NI 43-101 may not qualify as "reserves” under SEC standards. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.