Latest news with #DuparquetGoldProject
Cision Canada
4 days ago
- Business
- Cision Canada
First Mining Announces 2025 Second Quarter Financial Results and Operating Highlights
VANCOUVER, BC, Aug. 12, 2025 /CNW/ - First Mining Gold Corp. ("First Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) reports its second quarter financial results for the quarter ended June 30, 2025. The financial statements and management's discussion and analysis ("MD&A") are available on First Mining's website at and have been posted under the Company's profile on SEDAR+ at and EDGAR at "We are pleased to announce a successful second quarter with very positive exploration results at our Duparquet Gold Project in Quebec," stated Dan Wilton, CEO of First Mining. "As we entered the third quarter, we signed a landmark long-term relationship agreement with Mishkeegogamang First Nation and look forward to that partnership as we continue to advance the Springpole Gold Project. We are also very proud of the overwhelming support from new and existing shareholders in our recently completed prospectus offering and private placement where we were able to raise over $36 million of new capital and with demand well in excess of the amount we closed upon. The proceeds will allow First Mining to make significant progress at Springpole and Duparquet." Q2 2025 Highlights: On April 28, 2025, the Company announced the addition of a second drill rig at the Duparquet Gold Project (" Duparquet Project") during the month of April to further advance progress on its 18,000m drill program. On May 28, 2025, the Company announced initial drilling results from its 2025 drill program at the Duparquet Project which confirmed and expanded the known extent of mineralization at the newly discovered Miroir target and intersected the depth extension of mineralization at the Valentre target. Highlights include near surface mineralization intercepts from drill hole DUP25-052 that returned 2.77 g/t Au over 11.1m, including 4.36 g/t Au over 6.5m, and drill hole DUP25-054 that returned 1.41 g/t Au over 11.9m, including 2.52 g/t Au over 5.25m. On July 3, 2025, Mishkeegogamang First Nation and the Company announced that they signed a Long-Term Relationship Agreement (the " Agreement") covering the Springpole Gold Project. The Agreement sets out a collaborative approach for the development through construction, operations, and closure, in a manner that respects the environment and provides direct benefits to the First Nation. On July 14, 2025, the Company announced the discovery of the "Minuit" zone at the Duparquet Project, located 75m north of the historical Donchester Mine, that returned multiple significant intercepts in drill hole DUP25-059, highlighted by 2.25 g/t Au over 12.8m, including 4.08 g/t Au over 4.0m. In addition to the new discovery, drill hole DUP25-059 further returned an impressive intersection of 1.21 g/t Au over 60.2m, including 4.1 g/t Au over 4.3m, within Zone 3 of the Project's current resource area, validating large scale continuity of modelled gold mineralization striking east-west at the southern contact of the Beattie Syenite. On July 14, 2025, the Company announced a marketed public offering of up to 27,800,000 units of the Company (the " Units") at a price of $0.18 per Unit for aggregate gross proceeds to the Company of up to $5,004,000. Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a " Warrant"). Each Warrant will entitle the holder to acquire one common share of the Company at a price of $0.27 per share at any time prior to the date which is 36 months following the applicable closing date. In addition, the Company announced a non-brokered private placement of up to 55,600,000 Units at the Unit Offering Price and up to 22,730,000 flow-through units (the " FT Units") at a price of $0.22 per FT Unit for total gross proceeds of up to $15,008,600. On July 22, 2025, the Company closed an upsized marketed public offering of 66,670,000 units for total gross proceeds of $12,000,600. On July 31, 2025, the Company sold its remaining 20% project interest in the Hope Brook Gold Project for total consideration comprised of $3 million in cash and 7 million common shares of Big Ridge. On August 5, 2025, the Company closed an upsized non-brokered offering (the " Non-Brokered Offering") of 95,000,000 units for proceeds of $17,100,000 and 33,350,000 flow-through units for proceeds of $7,337,000. The total proceeds of the Non-Brokered Offering was $24,437,000. As of June 30, 2025, the Company's cash and marketable securities balance was $5.8 million and the equity interest in PC Gold Inc. (Pickle Crow Project) was $21.5 million. About First Mining Gold Corp. First Mining is a gold developer advancing two of the largest gold projects in Canada, the Springpole Gold Project in northwestern Ontario, where we have commenced a Feasibility Study and permitting activities are on-going with a final Environmental Impact Statement / Environmental Assessment for the project submitted in November 2024, and the Duparquet Gold Project in Quebec, a PEA-stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region. First Mining also owns the Cameron Gold Project in Ontario and a 30% project interest in the Pickle Crow Gold Project. 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 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", 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 the closing of the Transaction, First Mining's exposure to Hope Brook, and First Mining's plans related to its Springpole, Duparquet and other projects. 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. Such factors include, without limitation the Company's ability to close the Transaction, the Company's business, operations and financial condition potentially being materially adversely affected by the outbreak of epidemics, pandemics or other health crises, and by reactions by government and private actors to such outbreaks; risks to employee health and safety as a result of the outbreak of epidemics, pandemics or other health crises, that may result in a slowdown or temporary suspension of operations at some or all of the Company's mineral properties as well as its head office; 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, 2024 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at 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.
Cision Canada
14-07-2025
- Business
- Cision Canada
First Mining Discovers Significant New Gold Zone for Immediate Expansion at the Duparquet Gold Project Français
Minuit Discovery – A Newly Discovered Gold Zone located 75 m north of historical Donchester Mine DUP25-059 returns 2.25 g/t Au over 12.8 m, including 4.08 g/t Au over 4.0 m Zone 3 Exploration Update – Drilling continues to confirm the main Duparquet resource DUP25-059 intersects 1.21 g/t Au over 60.2 m including 4.1 g/t Au over 4.3 m VANCOUVER, BC, July 14, 2025 /CNW/ - First Mining Gold Corp. ("First Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce additional drilling results from the 2025 drilling program at its Duparquet Gold Project (" Duparquet Project" or the " Project") located in the Abitibi region of Quebec, Canada. The Company has been actively drilling with two drill rigs on the Duparquet Project since March 2025 as part of an estimated 18,000 m of drilling this year. Highlights from the recent drilling include the newly discovered "Minuit" zone, located 75 m north of the historical Donchester Mine, that returned multiple significant intercepts in drill hole DUP25-059, highlighted by 2.25 g/t Au over 12.8 m, including 4.08 g/t Au over 4.0 m. The discovery was made via a drill hole targeting a western down-dip extension of the South Zone which successfully encountered strong mineralization within an underexplored area located approximately 75 m into the footwall of the past-producing Donchester Mine. This new discovery zone indicates significant upside potential for the Project as it geologically aligns with key supporting geoscience elements that were also encountered in prior drill hole DUP23-003 which returned 3.47 g/t Au over 7.75 m and is located 315 m to the west of DUP25-059 (Figure 1). Once modeled, these holes collectively identified a newly discovered offset gold zone that remains open for meaningful exploration growth. In addition to the new discovery, drill hole DUP25-059 further returned an impressive intersection of 1.21 g/t Au over 60.2 m, including 4.1 g/t Au over 4.3 m, within Zone 3 of the Project's current resource area, validating large scale continuity of modelled gold mineralization striking east-west at the southern contact of the Beattie Syenite. "Our teams continue to make new discoveries in what is perceived to be a mature, well-drilled gold project," stated Dan Wilton, CEO of First Mining. "The Duparquet Gold Project continues to demonstrate significant growth potential as our team delineates new zones of mineralization, now including Minuit, Miroir, Aiguille, Valentre, North Zone and South Zone. We see the Duparquet Gold Project emerging as one of the largest gold deposits in the Abitibi with continued room for additional resource growth adding to the attractiveness of what is already a very robust and long-lived potential project." Assay highlights from the Zone 3 and Minuit Zone in DUP25-059 are shown in Table 1, with a full list of assays returned in Table 2 and collar details in Table 3. Table 1: Selected Significant Drill Intercepts, 2025 Program – Minuit and Zone 3 Targets *Reported intervals are drilled core lengths (true widths are estimated at 50 -85% of the core length interval; assay values are uncut) Duparquet 2025 Exploration Program Update Exploration activities are ongoing at the Duparquet Project with ~9,300 m drilled in 2025 to date, reaching the halfway mark of the proposed 18,000 m, two drill rig program for the year. Drilling activities have been focused on the resource expansion targets (Figure 2) such as the South Zone, Miroir, Aiguille, and North Zone, with additional follow-up drilling planned for Minuit as well as prospective regional targets for the remainder of the program. Regional field work programs are continuing in parallel to support further target development for future drill readiness. Additional Details on the Minuit and Zone 3 Targets Minuit The "Minuit Zone" was identified during exploration efforts targeting the extension of the mineralization trend beneath the historical Donchester Mine. The historical Beattie mine operated from 1933 to 1956 and produced over 1.24 million ounces of gold at an average grade of 4.01 g/t. The historical mine consisted of three main areas - the Beattie mine, North Donchester, and South Donchester. The South Donchester area focused on the Beattie Syenite's southern mineralized zone. Favourable mineralization was intercepted earlier than expected in DUP25-059, leading to the discovery of the new Minuit Zone, which is interpreted to be a new zone of mineralization 75 m north of the historical Donchester underground mine workings. Drill hole DUP25-059 returned 2.25 g/t Au over 12.8 m, including 4.08 g/t Au over 4.0 m, and the mineralization is hosted within a highly altered intensely silicified and mineralized syenite unit with up to 10% very fine-grained disseminated pyrite and 5% background quartz carbonate veining (Figure 3). The "Minuit syenite" unit demonstrates a similar width and bounding stratigraphy to that of the historical Donchester Mine syenite, which is bounded by intermediate to mafic volcanics. The locality of the drilled intercept and newly discovered zone is interpreted to be due to a 45˚offsetting geological structure with a sinistral dip-slip component and offset of 75 m to the north. Minuit is located on the footwall side of this feature which is coincident with the western limits of the historical mine workings (Figures 1 and 4). The structure has been characterized as a gouge to brecciated zone with intense shearing and coincident late milky quartz veining. The newly interpreted structure demonstrates the unlocking of a new open-ended exploration target. The target is currently interpreted to extend 315 m to the west of DUP25-059 towards DUP23-003 as the Minuit discovery hole exhibits similar host lithology setting, mineralization and structure to that intersected in DUP23-003 which returned 3.47 g/t Au over 7.75 m (Figures 1 and 4). Follow-up exploration drilling will focus on further evolving the interpretation and extent of the target up- and down-dip as well as along strike. The purpose of drill hole DUP25-059 was to target an extension of the open-ended South Zone and even though the hole did not intersect the target at the projected position due to the unexpected offsetting structure, there is still strong evidence supporting the open-ended nature of the South Zone target on the hanging wall (west side) of the structure which will be followed up in upcoming drill programs. Zone 3 The Zone 3 modelled resource wireframe intersected in drill hole DUP25-059 is located within the inferred category portion of the current mineral resource. Drill hole DUP25-059 returned favourable results of 1.21 g/t Au over 60.2 m, including 8.01 g/t Au over 0.5 m and including 4.1 g/t Au over 4.3 m (Figures 3 and 4). Mineralization in this intercept is hosted within moderately silica- and sericite-altered and brecciated syenite with up to 2% very fine-grained pyrite mineralization. These recent drill results further validate the current resource model and extent of continuity in mineralization that is hosted within the Duparquet Gold Project. Table 2: Complete Assay Results from DUP25-059 *Reported intervals are drilled core lengths (true widths are estimated at 50 -85% of the core length interval; assay values are uncut) Table 3: DUP25-059 Hole Location Hole ID Azimuth (°) Dip (°) Length (m) Easting Northing DUP25-059 180 -65 729 631639 5374493 Note: Collar coordinates in UTM NAD 83 z17 About the Duparquet Gold Project The Duparquet Project is geologically situated in the southern part of the Abitibi Greenstone Belt and is geographically located approximately 50 km north of the city of Rouyn-Noranda. The Project benefits from easy access and proximity to an existing workforce and infrastructure, including road, rail and hydroelectric grid power. The Duparquet Project currently hosts an NI 43-101 compliant gold resource of 3.44 million ounces in the Measured & Indicated category, grading 1.55 g/t Au, and an additional 2.64 million ounces in the Inferred category, grading 1.62 g/t Au. First Mining completed a Preliminary Economic Assessment 1 (" PEA") on the Project in 2023. The Duparquet Project totals approximately 5,800 hectares focused on an area of 19 km of strike length along the prolific Destor-Porcupine Fault Zone, along with numerous mineralized splays and influential secondary lineaments. The Duparquet Project includes the past-producing Beattie, Donchester and Duquesne mines as well as the Central Duparquet, Dumico and Pitt Gold deposits. 1 Further details on the Duparquet PEA can be found in the technical report entitled "NI 43-101 Technical Report: Preliminary Economic Assessment, Duparquet Gold Project, Quebec, Canada" dated October 20, 2023, which was prepared for First Mining by G Mining Services Inc. in accordance with NI 43-101 and is available under First Mining's SEDAR+ profile at Analytical Laboratory and QA/QC Procedures All sampling completed by First Mining within its exploration programs is subject to a Company standard of internal quality control and quality assurance (QA/QC) programs which include the insertion of certified reference materials, blank materials and a level of duplicate analysis. Core samples from the 2025 drilling program at Duparquet were sent to AGAT Laboratories, with sample preparation in Val d'Or, Quebec and analysis in Thunder Bay, Ontario, where they were processed for gold analysis by 50 gram fire assay with an atomic absorption finish. Samples from selected holes were sent to AGAT Laboratories in Calgary, Alberta, for multi-element analysis (including silver) by inductively coupled plasma (ICP) method with a four acid digest. AGAT Laboratories systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101. Qualified Person James Maxwell, VP, Exploration and Project Operations for First Mining, is a "Qualified Person" for the purposes of NI 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical disclosure contained in this news release. About First Mining Gold Corp. First Mining is a gold developer advancing two of the largest gold projects in Canada, the Springpole Gold Project in northwestern Ontario, where we have commenced a Feasibility Study and permitting activities are on-going with a final Environmental Impact Statement / Environmental Assessment for the project submitted in November 2024, and the Duparquet Gold Project in Quebec, a PEA-stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region. First Mining also owns the Cameron Gold Project in Ontario and a portfolio of gold project interests including the Pickle Crow Gold Project (being advanced in partnership with Firefly Metals Ltd.) and the Hope Brook Gold Project (being advanced in partnership with Big Ridge Gold Corp.). 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 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", 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. 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. Such factors include, without limitation the Company's business, operations and financial condition potentially being materially adversely affected by the outbreak of epidemics, pandemics or other health crises, and by reactions by government and private actors to such outbreaks; risks to employee health and safety as a result of the outbreak of epidemics, pandemics or other health crises, that may result in a slowdown or temporary suspension of operations at some or all of the Company's mineral properties as well as its head office; 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, 2024 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at 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. Cautionary Note to United States Investors The Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. 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.
Cision Canada
28-05-2025
- Business
- Cision Canada
First Mining Strengthens Miroir Discovery at Duparquet Gold Project with New Near-Surface Drilling Results and Expands Valentre Target Zone at Depth
Miroir – Multiple positive gold intercepts returned near surface including: DUP25-052 returns 2.77 g/t Au over 11.1 m, including 4.36 g/t Au over 6.5 m, at a depth of 12.9 m DUP25-054 returns 1.41 g/t Au over 11.9 m, including 2.52 g/t Au over 5.25 m, at a depth of 26.7 m Valentre – Significant intercepts supporting target expansion at depth and along strike including: DUP25-054 returns 3.96 g/t Au over 9.3 m, including 5.71 g/t Au over 5.8 m VANCOUVER, BC, May 28, 2025 /CNW/ - First Mining Gold Corp. ("First Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce initial drilling results from the 2025 drilling program at its Duparquet Gold Project (" Duparquet Project" or the " Project") located in the Abitibi region of Quebec, Canada. The Company commenced its 2025 drilling program at the Duparquet Project in March, with one drill rig targeting the Miroir discovery and a second drill rig added in April to further support and accelerate the program to complete an estimated 18,000 m of drilling as part of the 2025 campaign. The newly discovered Miroir target remains an excellent expansion opportunity where the 2025 drilling program and strategy is focused on further delineating the near surface extent of the mineralization footprint. The initial drill holes tested a zone extending approximately 100 m along strike from the initial discovery hole DUP24-048. Multiple significant intercepts of gold mineralization have been returned from this drilling, confirming and expanding the known extent of mineralization at Miroir. Highlights include near surface mineralization intercepts from drill hole DUP25-052 that returned 2.77 g/t Au over 11.1 m, including 4.36 g/t Au over 6.5 m, and drill hole DUP25-054 that returned 1.41 g/t Au over 11.9 m, including 2.52 g/t Au over 5.25 m, demonstrating encouraging grade and widths of gold mineralization within this shallow target that remains open for expansion (Figure 1). "Our exploration drilling continues to demonstrate significant resource growth potential by delineating new discovery zones as well as demonstrating the continuity of mineralization along strike and at depth within underexplored areas of the Duparquet Gold Project," stated Dan Wilton, CEO of First Mining. "The confirmation of the continuity of near-surface mineralization in the Valentre and Miroir areas demonstrates that this well-established resource, already one of the largest in Quebec, can continue to grow. Duparquet is emerging as one of the largest gold development projects in Quebec and we are continuing to advance it through the development process." Further strong results also include assays from a secondary target within a dual-purpose exploration drill hole at Miroir, where the depth extension of mineralization at the Valentre target, located 225 m south of Miroir, has now been successfully intersected at a vertical depth of 335 m. Within the secondary target, drill hole DUP25-054 returned 3.96 g/t Au over 9.3 m from 409.7 m to 419.0 m, including 5.71 g/t Au over 5.8 m, confirming a large extension and continuity of gold mineralization at the Valentre target along a key plunge. The assay results returned from the Valentre target continues to demonstrate continuity in grade and furthermore continues to validate the open-ended mineralization at Valentre. Assay highlights from the 1, 140 metres completed across the initial six drill holes of the 2025 program are shown in Table 1, with a full list of assays returned in Table 2 and collar details in Table 3. Table 1: Selected Significant Drill Intercepts, 2025 Program – Miroir and Valentre Targets Duparquet 2025 Exploration Program Updates Exploration activities are ongoing at the Duparquet Project with two drill rigs actively advancing at key resource growth targets through to the fall. Regional field campaigns will be commencing at the end of May 2025 with a focus on target generation across favourable lithologies and structures. The North Zone drilling will continue to focus on testing the syenite-mafic volcanic contact that has previously demonstrated an ability to host higher grade gold mineralization. Drilling at the South Zone will be targeting the extension of mineralization below the historical Donchester mine workings. Additional targets to be followed up on is the Aiguille Target, where drilling will be following up on the two discovery holes to further drill test the target's open-ended potential. A plan map of the key targets for exploration drilling activities is shown in Figure 2. Miroir The 2025 Miroir drilling is focused on further delineating the extent of mineralization around the 2024 discovery hole, DUP24-048, that returned 3.12 g/t Au over 19.35 m close to surface (refer to news release dated January 20, 2025). An area of approximately 100 m along strike has thus far been drill tested with six drill holes (Table 3) intersecting seven unique significant mineralization intervals including DUP25-052 that returned 2.77 g.t Au over 11.1 m, including 4.36 g/t Au over 6.5 m (Tables 1 and 2). The mineralized intercepts confirm the open-ended nature of the Miroir target (Figure 1). The Miroir target is situated 225 m north of the Valentre target, hosted along the northern contact between the mafic volcanic and the syenite (Figure 3). This contact zone has traditionally demonstrated a stronger affinity for higher-grade mineralization, a characteristic also observed at the North Zone target area of the project, located 1.5 km to the west. Mineralization at the Miroir target is associated with silica-altered, sheared and brecciated basalt and syenite, featuring dark smoky quartz veining and up to 5% very fine-grained disseminated pyrite mineralization. The mineralized intercepts are spatially correlated with D2 deformation zones and are typically occurring at a strike of northeast to southwest and east-west along the syenite-basalt contacts, further validating the structural and lithological controls on mineralization in this area. Valentre The objective of the 2025 drilling campaign at the Valentre target is to evaluate grade continuity and to refine the understanding of higher-grade mineralized zones at depth through a targeted drilling campaign. A dual-target hole, DUP25-054, was designed to drill test both the Miroir and the Valentre targets, as illustrated in Figure 4. Significant results returned from DUP25-054 for the Valentre target are 3.96 g/t Au over 9.3 m, including 5.71 g/t Au over 5.8 m at a depth of approximately 330 m below surface. Mineralization in hole DUP25-054 consists of brecciated silica-altered syenite and lath syenite with up to 5% very fine-grained disseminated pyrite mineralization. Higher-grade zones are consistent along the interpreted D2 structures, which are characterized by intense brecciation or shearing as observed in the drill core. Follow-up drilling is planned at the Valentre target, with the objective of advancing exploration definition through additional resolution and step-out drilling to support updated geological modelling with a potential for incorporation into future mineral resource estimates (Figure 5). Table 2: Initial Assay Results from 2025 Drill Program Hole ID From (m) To (m) Length (m) Grade (Au g/t) Target DUP25-049 14.1 15.0 0.9 1.29 Miroir DUP25-049 73.3 74.0 0.7 0.62 DUP25-049 105.6 108.6 3.0 0.42 DUP25-050 8.0 14.9 6.9 1.48 DUP25-050 33.7 34.4 0.7 0.45 DUP25-050 38.25 39.0 0.75 0.47 DUP25-050 58.3 58.9 0.6 0.46 DUP25-050 97.0 98.0 1.0 0.50 DUP25-051 8.0 13.0 5.0 1.47 DUP25-051 18.0 19.6 1.6 2.71 DUP25-051 24.2 27.4 3.2 3.54 DUP25-051 inc. 25.0 25.7 0.7 12.00 DUP25-051 41.0 42.0 1.0 0.54 DUP25-051 55.5 56.4 0.9 0.52 DUP25-051 68.0 69.0 1.0 0.42 DUP25-051 107.0 108.0 1.0 1.29 DUP25-051 132.0 136.9 4.9 0.84 DUP25-052 12.9 24.0 11.1 2.77 DUP25-052 inc. 12.9 19.4 6.5 4.36 DUP25-052 and inc. 12.9 13.6 0.7 13.40 DUP25-052 30.0 30.85 0.85 0.89 DUP25-052 34.3 36.5 2.2 2.92 DUP25-052 101.0 102.0 1.0 0.63 DUP25-052 103.0 104.0 1.0 5.03 DUP25-053 19.0 20.5 1.5 0.72 DUP25-053 27.0 32.4 5.4 0.41 DUP25-053 90.0 90.75 0.75 0.51 DUP25-054 15.0 16.0 1.0 0.52 DUP25-054 26.7 38.6 11.9 1.41 DUP25-054 inc. 27.3 32.55 5.25 2.52 DUP25-054 and inc. 29.4 30.5 1.1 7.27 DUP25-054 57.4 58.05 0.65 1.41 DUP25-054 127.55 128.65 1.1 1.44 Valentre DUP25-054 180.25 184.25 4.0 0.65 DUP25-054 295.8 296.75 0.95 2.20 DUP25-054 310.2 312.0 1.8 0.56 DUP25-054 337.0 338.6 1.6 0.96 DUP25-054 342.3 342.8 0.5 0.43 DUP25-054 349.0 350.25 1.25 0.60 DUP25-054 354.1 354.6 0.5 2.28 DUP25-054 357.5 362.5 5.0 0.95 DUP25-054 inc. 357.5 358.4 0.9 3.75 DUP25-054 374.9 376.0 1.1 2.27 DUP25-054 380.35 390.1 9.75 1.14 DUP25-054 inc. 383.2 387.9 4.7 1.65 DUP25-054 and inc. 384.2 384.7 0.5 6.19 DUP25-054 397.0 398.35 1.35 0.97 DUP25-054 409.7 419.0 9.3 3.96 DUP25-054 inc. 412.0 417.8 5.8 5.71 DUP25-054 and inc. 415.0 417.8 2.8 7.50 DUP25-054 424.15 427.25 3.1 0.67 DUP25-054 431.8 432.8 1.0 1.55 DUP25-054 439.2 439.7 0.5 0.84 *Reported intervals are drilled core lengths (true widths are estimated at 75-85% of the core length interval; assay values are uncut) Table 3: 2025 Drill Hole Locations, Miroir and Valentre Targets Note: Collar coordinates in UTM NAD 83 z17 About the Duparquet Gold Project The Duparquet Project is geologically situated in the southern part of the Abitibi Greenstone Belt and is geographically located approximately 50 km north of the city of Rouyn-Noranda. The Project benefits from easy access and proximity to an existing workforce and infrastructure, including road, rail and hydroelectric grid power. The Duparquet Project currently hosts an NI 43-101 compliant gold resource of 3.44 million ounces in the Measured & Indicated category, grading 1.55 g/t Au, and an additional 2.64 million ounces in the Inferred category, grading 1.62 g/t Au. First Mining completed a Preliminary Economic Assessment 1 (" PEA") on the Project in 2023. The Duparquet Project totals approximately 5,800 hectares focused on an area of 19 km of strike length along the prolific Destor-Porcupine Fault Zone, along with numerous mineralized splays and influential secondary lineaments. The Duparquet Project includes the past-producing Beattie, Donchester and Duquesne mines as well as the Central Duparquet, Dumico and Pitt Gold deposits. 1 Further details on the Duparquet PEA can be found in the technical report entitled "NI 43-101 Technical Report: Preliminary Economic Assessment, Duparquet Gold Project, Quebec, Canada" dated October 20, 2023, which was prepared for First Mining by G Mining Services Inc. in accordance with NI 43-101 and is available under First Mining's SEDAR+ profile at Analytical Laboratory and QA/QC Procedures All sampling completed by First Mining within its exploration programs is subject to a Company standard of internal quality control and quality assurance (QA/QC) programs which include the insertion of certified reference materials, blank materials and a level of duplicate analysis. Core samples from the 2025 drilling program at Duparquet were sent to AGAT Laboratories, with sample preparation in Val d'Or, Quebec and analysis in Thunder Bay, Ontario, where they were processed for gold analysis by 50 gram fire assay with an atomic absorption finish. Samples from selected holes were sent to AGAT Laboratories in Calgary, Alberta, for multi-element analysis (including silver) by inductively coupled plasma (ICP) method with a four acid digest. AGAT Laboratories systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101. Qualified Person James Maxwell, VP, Exploration and Project Operations for First Mining, is a "Qualified Person" for the purposes of NI 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical disclosure contained in this news release. About First Mining Gold Corp. First Mining is a gold developer advancing two of the largest gold projects in Canada, the Springpole Gold Project in northwestern Ontario, where we have commenced a Feasibility Study and permitting activities are on-going with a final Environmental Impact Statement / Environmental Assessment for the project submitted in November 2024, and the Duparquet Gold Project in Quebec, a PEA-stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region. First Mining also owns the Cameron Gold Project in Ontario and a portfolio of gold project interests including the Pickle Crow Gold Project (being advanced in partnership with Firefly Metals Ltd.) and the Hope Brook Gold Project (being advanced in partnership with Big Ridge Gold Corp.). 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. Chief Executive Officer and Director 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", 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. 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. Such factors include, without limitation the Company's business, operations and financial condition potentially being materially adversely affected by the outbreak of epidemics, pandemics or other health crises, and by reactions by government and private actors to such outbreaks; risks to employee health and safety as a result of the outbreak of epidemics, pandemics or other health crises, that may result in a slowdown or temporary suspension of operations at some or all of the Company's mineral properties as well as its head office; 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, 2024 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at 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. Cautionary Note to United States Investors The Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. 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. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.
Cision Canada
14-05-2025
- Business
- Cision Canada
First Mining Announces 2025 First Quarter Financial Results and Operating Highlights
VANCOUVER, BC, May 14, 2025 /CNW/ - First Mining Gold Corp. ("First Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) reports its first quarter financial results for the quarter ended March 31, 2025. The financial statements and management's discussion and analysis ("MD&A") are available on First Mining's website at and have been posted under the Company's profile on SEDAR+ at and EDGAR at "We are pleased to announce a successful start to the fiscal year where we were able to bring forward a US$5 million payment through the continued endorsement of First Majestic Silver," stated Dan Wilton, CEO of First Mining. "We continue to make significant progress on the permitting front at our Springpole Gold Project and continue to demonstrate exploration potential at Duparquet with the recently announced exploration program. With gold prices trending higher, we believe our key projects and asset portfolio are well-positioned to provide maximum leverage to a strong gold price environment." Q1 2025 Highlights: On January 20, 2025, the Company announced new drilling results from the 2024 Phase 3 diamond drilling program at the Duparquet Gold Project. The Company identified two new discovery gold zones during the expansion drilling at the Valentre target. Assay results for the newly discovered "Miroir Zone" located north of the Valentre target, returned 3.12 g/t Au over 19.35 m, including 5.47 g/t Au over 9.6 m. A second discovery, the "Aiguille Zone", occurred south of the Valentre target, returning 8.99 g/t Au over 3.1 m. On February 12, 2025, the Company announced drilling results from the 2024 East Extension Phase 1 diamond drilling program at its Springpole Gold Project Phase 1 diamond drilling program. The East Extension Phase 1 exploration drilling program comprised 5 holes for a total of 2,293 m and was successful in returning significant widths of continuous mineralization in an underexplored area of the Project located within the current PFS open-pit development footprint. On March 5, 2025, the Company announced the largest exploration drill program undertaken at the Duparquet Gold Project since acquiring full ownership in 2022. The Company aims to complete an approximate 18,000 m of exploration drilling this year, focusing on advancing priority targets that are aligned to resource growth potential and further unlocking a regional gold endowment supportive of future development optionality. On March 28, 2025, the Company announced that it received the final payment of US$5 million from First Majestic Silver Corp. in connection with the Silver Stream Purchase Agreement that First Majestic has with the Company's Springpole Gold Project. The parties entered into an amending agreement to the Silver Stream Purchase Agreement on March 13, 2025 to amend the terms of the final payment due from First Majestic under the Silver Purchase Agreement, such that the payment would be for US$5 million in cash. As of March 31, 2025, the Company had cash and marketable securities of $11.7 million and the equity interest in PC Gold Inc. (Pickle Crow Project) was $21.5 million. About First Mining Gold Corp. First Mining is a gold developer advancing two of the largest gold projects in Canada, the Springpole Gold Project in northwestern Ontario, where we have commenced a Feasibility Study and permitting activities are on-going with a final Environmental Impact Statement / Environmental Assessment for the project submitted in November 2024, and the Duparquet Gold Project in Quebec, a PEA-stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region. First Mining also owns the Cameron Gold Project in Ontario and a portfolio of gold project interests including the Pickle Crow Gold Project (being advanced in partnership with Firefly Metals Ltd.) and the Hope Brook Gold Project (being advanced in partnership with Big Ridge Gold Corp.). 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 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", 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. 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. Such factors include, without limitation the Company's business, operations and financial condition potentially being materially adversely affected by the outbreak of epidemics, pandemics or other health crises, and by reactions by government and private actors to such outbreaks; risks to employee health and safety as a result of the outbreak of epidemics, pandemics or other health crises, that may result in a slowdown or temporary suspension of operations at some or all of the Company's mineral properties as well as its head office; 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, 2024 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at 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. Cautionary Note to United States Investors The Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. 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. Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material SOURCE First Mining Gold Corp.
