First Mining Gold Corp. is pleased to provide an updated Mineral Resource Estimate (the “MRE“) on the Duparquet gold project (“Duparquet” or the “Project“) located in Quebec, prepared by InnovExplo Inc. in accordance with the National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“).
The updated MRE is derived from the master database of drill data, which contains 904 holes totalling 270,119m and 173,831 sampled intervals. This MRE includes 57 drill holes totaling 9,548m not included in the previous MRE with drilling occurring after the effective date of February 28, 2013. The drilling was carried out by Clifton Star Resources Inc., Beattie Gold Mines Ltd., and 2588111 Manitoba Ltd. By incorporating these previous drill holes, Duparquet’s resource increases to 3.4 Moz in the measured and indicated category, an increase of 327 koz, and to 1.6 Moz in the inferred category, an increase of 193 koz.
“First Mining is very excited to announce an updated mineral resource estimate at the Duparquet Gold Project,” stated Dan Wilton, CEO of First Mining Gold. “Duparquet is an advanced stage project that has benefited from 270,000m of historical drilling and was advanced to a PFS level in 2014. This resource growth from incorporating the 2013-2018 drilling is just the beginning of what we see as immense value potential here at Duparquet. Based on the size of its current resource, Duparquet represents one of the top four undeveloped gold projects in the province of Quebec. Its above average M&I open pit grade of 1.52 g/t Au provides excellent mining flexibility and along with its size and location, make it a very versatile deposit amenable to different potential mining scenarios with good future growth potential. The project site is well located and has access to excellent infrastructure and skilled labour. First Mining intends to complete an updated economic study in the near future and to develop an exploration path to support potential resource expansion, resource classification upgrading, and discovery of new deposits in this underexplored district.”