VANCOUVER, BC, Jan. 11, 2022 /PRNewswire/ - First Mining Gold
Corp. ("First Mining" or the "Company") (TSX: FF) (OTCQX:
FFMGF) (FRANKFURT: FMG) is pleased to provide an update on the
ongoing technical work at its Springpole Gold Project ("Springpole"
or the "Project") located in Ontario.
Since completing the Pre-Feasibility Study for Springpole (the
"Springpole PFS") in January 2021,
First Mining has been engaged in a number of significant technical
programs to further optimize the development plan for Springpole
and to further define the project scope for the Environmental
Assessment ("EA") process and into the Feasibility Study ("FS")
process. These programs are ongoing and include
Feasibility-level metallurgical test work, reviewing opportunities
to reduce the project's greenhouse gas footprint ("GHG"), exploring
renewable power generation opportunities, environmental data
collection, and EA document preparation.
Metallurgical Program
The focus of the Feasibility-level metallurgical program is to
confirm metallurgical information and the process design of the
Springpole PFS and explore opportunities to enhance metal
recoveries and reduce operating and capital costs for Springpole by
testing advanced flotation technologies, including the Woodgrove
Direct Flotation Reactor. The metallurgical testing in 2021
took 2.4 tonnes of metallurgical samples collected from 10 drill
holes to form three production composites that underwent advanced
metallurgical testing, as well as 10 variability composites. The
initial results support the test work and assumptions that were
used in the Springpole PFS and warrant a more detailed analysis of
simplifying the flotation flow sheet, compared to the Springpole
PFS.
Filtration test work is also underway to optimize the size of
the filter plant that feeds the dry-stack tailings facility.
There is a potential opportunity to reduce the size of the filter
plant which may represent a potential decrease to the initial
process plant capital cost, when compared to the Springpole
PFS. More detailed analysis will be completed during the
FS.
First Mining will release results from the metallurgical program
when it is completed, which is expected to be in Q2 2022.
Greenhouse Gas ("GHG") Footprint Reduction – Electric Assist
Haul Trucks
Following the completion of the Springpole PFS, First Mining
completed an analysis of potential GHG emissions from the Project
and determined that opportunities exist to reduce GHG emissions by
reducing diesel consumption associated with the haul trucks with
the addition of trolley assist in various areas of the mine.
Given that the Project is scoped to be tied to the power grid,
First Mining commissioned AGP Consulting to study the impact and
benefit of a number of electric haul assist technologies. More
detailed analysis is warranted and will be carried out during the
FS.
Renewable Power Generation Opportunities
First Mining commissioned SLR Consulting ("SLR") to complete an
initial scoping study of the opportunities to incorporate renewable
power generation into the project development plan at
Springpole. The Springpole area is endowed with potentially
economic wind and solar resources, as well as a significant biomass
opportunity which has been previously studied for the region.
The SLR study concluded that wind and solar were both viable
potential supplemental power sources for the Project that warrant
further study. In furtherance of this, First Mining has
commenced site-specific, investment grade data collection for wind
resources and will explore opportunities with the local communities
to better understand avenues for partnership in a potential
renewable power development.
Environmental Data Collection
The 2021 environmental field work activities involved a
comprehensive program to supplement the baseline data that had been
collected over several previous years. The studies covered a broad
range of disciplines across the biological, physical and human
environments including air quality, noise, surface water,
groundwater, geochemistry, aquatic biology, terrestrial vegetation
and wildlife, archaeology, and cultural heritage. Two air quality
monitoring stations near the Project site have been established to
gather continuous samples, and noise levels were measured at two
monitoring locations under "leaves-on" and "leaves-off"
conditions.
Surface water studies included monthly surface water quality
sampling at 25 locations, flow measurements at six locations, and
lake level measurements at eight locations. Hydrogeological testing
was conducted to improve the understanding of groundwater movement
in the area and groundwater quality samples were collected at 11
monitoring wells. The geochemical characterization program included
static and kinetic testing of mine rock and tailings as well as
static testing of aggregate and overburden. An aerial survey was
undertaken early in the year to study Boreal Caribou and other
ungulates and furbearers.
Other key wildlife and habitat studies included bird and bat
surveys as well as vegetation community and wetland mapping.
Extensive aquatic studies were undertaken including fish community
and habitat assessments, fish tissue sampling, as well as plankton
and benthic invertebrate studies. A Stage 2 Archaeological
Assessment for the mine site area and cultural heritage information
gathering and evaluation were also completed in 2021. The
information collected will inform the EA and First Mining will
continue to collect data on the existing environment in 2022 to
support future permitting.
Environmental Assessment Preparation
Following a successful environmental field season and the
approval of the Provincial EA Terms of Reference on November 8, 2021, Wood plc, on behalf of First
Mining, has undertaken technical modelling to inform the EA
documentation covering key areas of the environment at Springpole,
including geochemistry, groundwater quantity and quality, surface
water quality, hydrology, air quality, noise and vibration, and
terrestrial components. The technical work is being
documented and will be presented in a draft EA that will be
publicly disclosed and available for review when completed.
Key Catalysts for Springpole Project Development in
2022
First Mining is anticipating a number of important project
advancements in 2022, including:
- Commencement of Feasibility Study process
- Results of metallurgical studies expected in Q2 2022
- Final results of other process optimization trade-off studies
to be included in the FS
- Completion and submission of the Draft Environmental
Assessment
Senior Management Change
Ken Engquist, the Company's Chief
Operating Officer, will be leaving his role at First Mining,
effective January 14, 2022, to pursue
another opportunity in the mining industry.
Over the past year, under Ken's leadership, First Mining has
built a strong team of VP-level professionals that will ensure the
continuity of First Mining's ongoing technical and environmental
programs at its mineral projects, including Steve Lines, VP, Environment and Community
Relations, David Baldwin, VP,
Project Development and James
Maxwell, VP, Exploration. Steve, David and James are
all part of First Mining's senior leadership team and will ensure a
seamless transition as First Mining continues to advance its
exploration and development objectives. First Mining has
commenced a search for a new Chief Operating Officer.
"Ken has been an important member of the team since joining
First Mining in 2019 and we are thankful for his
contributions. We wish him well in his future
endeavours," stated Dan Wilton,
CEO of First Mining. "First Mining has assembled a highly
experienced team over the last couple of years and we look forward
to continued progress under the technical leadership of Steve,
David and James as we advance Springpole and our other
projects."
Qualified Person
Hazel Mullin, P.Geo., Director,
Data Management and Technical Services of First Mining, is a
"Qualified Person" for the purposes of National Instrument 43-101
Standards of Disclosure for Mineral Projects, and she has
reviewed and approved the scientific and technical disclosure
contained in this news release.
About First Mining Gold Corp.
First Mining is a Canadian gold developer focused on the
development and permitting of the Springpole Gold Project in
northwestern Ontario. Springpole is one of the largest
undeveloped gold projects in Canada. The results of a positive
Pre-Feasibility Study for the Springpole Gold Project were
announced by First Mining in January
2021, and permitting activities are on-going with submission
of a draft Environmental Assessment ("EA") / Environmental
Impact Statement ("EIS") for the project targeted for 2022.
The Company also holds a large equity position in
Treasury Metals Inc. who are advancing the Goliath Gold
Complex toward construction. First Mining's portfolio of gold
projects in eastern Canada also
includes the Pickle Crow (being advanced in partnership with Auteco
Minerals Ltd.), Hope Brook (being
advanced in partnership with Big Ridge Gold Corp.), Cameron,
Duparquet, Duquesne, and Pitt gold projects.
First Mining was established 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
www.firstmininggold.com
Cautionary Note Regarding Forward-Looking
Statements
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", "opportunities",
"objectives", "targeted", "advancing", "proving" 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.
Forward-looking statements in this news release relate to
future events or future performance and reflect current estimates,
predictions, expectations or beliefs regarding future events and
include, but are not limited to, statements with respect to: (i)
the timing for completion of the Feasibility-level metallurgical
program for the Springpole Gold Project; (ii) the potential
reduction in the size of the filter plant for the Springpole Gold
Project and any associated reduction in capital costs; (iii) the
Company carrying out more detailed analysis during the FS process
with respect to utilizing a number of electric haul assist
technologies at the Project; (iv) the Company's plans to explore
opportunities with the local communities around Springpole to
partner in renewable power development opportunities; (v) the
Company continuing to collect data in 2022 on the existing
environment at Springpole to support future permitting; (vi) the
Company's anticipated catalysts for 2022 and timing associated with
those catalysts; (vii) the timing for the departure of the
Company's Chief Operating Officer and the timing to complete a
search for his replacement; (viii) the geologic
potential of the Company's portfolio of Canadian gold projects;
(ix) the Company's focus on advancing its assets
towards production; * timing for the submission of the EA/EIS for
the Springpole Gold Project; and (xi) realizing the value of the
Company's gold projects for the Company's shareholders. All
forward-looking statements are based on First Mining's or its
consultants' current beliefs as well as various assumptions made by
them and information currently available to them. There can be no
assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions and projections on the date the statements
are made and are based upon a number of assumptions and estimates
that, while considered reasonable by the respective parties, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors,
both known and unknown, could cause actual results, performance or
achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied
by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation: the
potential offering of any securities by the Company; uncertainty
with respect to the completion of any future offering; the ability
to obtain applicable regulatory approval for any contemplated
offerings; the ability of the Company to negotiate and complete
future funding transactions; fluctuations in the spot and forward
price of gold, silver, base metals or certain other commodities;
fluctuations in the currency markets (such as the Canadian dollar
versus the U.S. dollar); changes in national and local government,
legislation, taxation, controls, regulations and political or
economic developments; risks and hazards associated with the
business of mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected
formations, pressures, cave-ins and flooding); the presence of laws
and regulations that may impose restrictions on mining; employee
relations; relationships with and claims by local communities,
indigenous populations and other stakeholders; availability and
increasing costs associated with mining inputs and labour; the
speculative nature of mineral exploration and development; title to
properties.; and the additional risks described in the Company's
Annual Information Form for the year ended December 31, 2020 filed with the Canadian
securities regulatory authorities under the Company's SEDAR profile
at www.sedar.com, and in the Company's Annual Report on Form 40-F
filed with the SEC on EDGAR.
First Mining cautions that the foregoing list of factors that
may affect future results is not exhaustive. When relying on our
forward-looking statements to make decisions with respect to First
Mining, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
First Mining does not undertake to update any forward-looking
statement, whether written or oral, that may be made from time to
time by the Company or on our behalf, except as required by
law.
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SOURCE First Mining Gold Corp.