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First Mining reports exploration drilling results for Goldlund gold project in Canada

Published 05 February 2018

First Mining Gold has announced the drilling results of the four drill holes from its deep diamond drill exploration program within Zone 7 at First Mining’s 100% owned Goldlund Gold Project located near the town of Sioux Lookout in northwestern Ontario, Canada.

Drilling Highlights:

  • Hole GL-17-010 intersected 83.0 metres of 1.35 grams per tonne gold

            - including 1.0 metre of 74.95 grams per tonne gold

  • Hole GL-17-051 intersected 72.0 metres of 0.65 grams per tonne gold

            -  including 2.0 metres of 6.18 grams per tonne gold

  • Hole GL-17-106 intersected 56.0 metres of 0.40 grams per tonne gold

            - including 2.0 metres of 4.74 grams per tonne gold

The primary goal of the deep hole drilling campaign at Goldlund, which was comprised of four diamond drill holes, was to gain further knowledge on the geology and gold mineralization within the deeper sections of Zone 7. Each of these holes were originally drilled during the Phase 1 drilling campaign and were extended during the Phase 2 exploration and infill drilling program. Today’s assay results demonstrate that gold mineralization at Goldlund continues to considerable depths.

The Company is now focusing on exploration and infill drilling within the Zone 1 area and will soon shift to drill targets outside of the current resource estimate boundary.

Keith Neumeyer, the Chairman of First Mining, stated, “When First Mining acquired the Goldlund Project we knew that it had considerable upside. With our shift from infill drilling to exploration drilling outside of the current resource area, we hope to be able to demonstrate that Goldlund has exceptional exploration upside which we believe will yield considerable value for our shareholders.”

All four drill holes (GL-17-010; 051; 106; and 108) were previously drilled during the infill drilling campaign which was completed in May 2017. Drill hole GL-17-010 was originally drilled to a depth of 305.0 metres, with assay results made public in the Company’s news release dated July 10, 2017. Subsequently this hole was extended to a depth of 629.0 metres during the Phase 2 campaign. Drill holes GL-17-051, GL-17-106 and GL-17-108 were originally drilled to depths of 341.0, 302.0, and 328.5 metres, respectively, with the assay results of these holes detailed in the Company’s news release dated July 27, 2017. Subsequently, the Company decided to extend the depth of these drill holes so as to investigate the presence of additional gold mineralization at depth. Drill holes GL-17-051, GL-17-106 and GL-17-108 were extended to depths of 629.0, 455.0 and 500.0 metres respectively, during the Phase 2 campaign. In all four holes significant intersections of gold mineralization were encountered at depth.

Gold observed during the current drilling program at Goldlund occurs both as fine disseminations in quartz vein stockworks and as more discrete larger grains up to 2 mm spatially associated with pyrite in the quartz veins. Calaverite, a gold telluride mineral, has been noted occasionally in higher grade intervals on fracture surfaces in the quartz veins.  Higher grade gold distribution in the granodiorite dikes is often, but not always, associated with zones of more intense quartz stockworking and potassic alteration.

Assaying for the 2017 Goldlund drill program is being done by SGS at their laboratories in Red Lake, Ontario, and Burnaby, BC. Prepared samples are analyzed for gold by either Bulk Leach Extractable Gold (BLEG) assay techniques or by lead fusion fire assay with an atomic absorption spectrometry (AAS) finish. Multi-element analysis on the mineralized zones is also being undertaken by two-acid aqua regia digestion with ICP-MS and AES finish.

Source: Company Press Release