First Mining in new earn-in near Springpole
TSX-listed First Mining Gold is continuing the consolidation of the Birch-Uchi greenstone belt, announcing on Monday that it has entered into an earn-in agreement over properties covering 3 700 ha.
First Mining subsidiary Gold Canyon Resources may earn, over two stages and a period of six years, up to an 80% interest in Pelganio Exploration’s Birch Lake and Birch Lake West properties.
These properties include the High Grade Island prospect, to the north-east of First Mining’s Springpole gold project, in north-western Ontario.
"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 programme next year,” said First Mining CEO Dan Wilton.
High Grade Island is accessible from Springpole gold project by boat during the summer months and by snowmobile or ice roads during the winter months.
First Mining now controls almost 70 000 ha in the Birch-Uchi greenstone belt.
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. This zone is characterized by lenses of mineralisation within a wide altered and sheared zone, and the best gold values appear to lie in northwest-plunging shoots. Drilling results included large intercepts (4.2 m at 8.7 g/t gold in hole P255A-074) as well as several high-grade intercepts associated with coarse visible gold (2.0 m at 105 g/t gold, including 1.0 m at 209 g/t gold, in hole P255A-078). Most 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 in 2004 and 2005 to evaluate the Main Central zone between 200 m and 350 m below the surface. Numerous gold intercepts were noted including 34.5 g/t gold over 9.85 m from 239.15 to 249.0 m (hole TWBL-096) and 244.7 g/t gold over 2.45 m from 357.85 m to 360.30 m (hole TWBL-097).
The Western zone is located in the same deformation zone as the Main Central zone but the mineralisation 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 gold from a near surface intercept.
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