First Mining Gold Corp. (TSX:FF, OTCQX:FFMGF) told investors its wholly-owned subsidiary, Mines d'Or Duparquet Inc, has commenced mobilization on an initial 5,000-metre exploration drilling program at its Duparquet Gold Project in Quebec’s Abitibi Region.
The company said the exploration drilling program will focus on several newly-developed exploration targets as it expands the resource and looks for optimization opportunities.
"We are very excited to commence this important foundational drilling program at our recently consolidated Duparquet Gold Project, located in a premier mining jurisdiction of Quebec," First Mining CEO Dan Wilton said in a statement.
"First Mining has been able to identify numerous high-priority prospective targets that will complement the historical drilling of more than 270,000 metres completed at the project and we expect that the exploration program will continue to demonstrate the untapped exploration upside in this prolific gold district.”
The company noted that the Duparquet Gold Project currently has a Measured and Indicated Mineral Resource of 3.4 million ounces of gold grading 1.55 grams per tonne (g/t), and an Inferred Mineral Resource of 1.6 million ounces of gold grading 1.36 g/t.
“We have also commenced a Preliminary Economic Assessment for the Duparquet Project and expect that to be completed in the second half of 2023,” Wilton added. “The existing mineral resource at the Duparquet Project provides a solid foundation, but we are most excited about the potential for significant resource growth that we hope to demonstrate through this initial drill program.”
Following an agreement, announced in January, with IAMGOLD Corp to acquire its Porcupine East property to increase its land position, First Mining said this will be its first opportunity to unlock the exploration potential at the consolidated property.
Newly-completed 3D geoscience modelling will focus on the lithology, structure and mineralization, while its modern exploration targeting strategy already has identified 15 initial target areas, the company added.
With the company targeting a Preliminary Economic Assessment for the Duparquet Project in the second half of 2023, it said it is advancing its exploration program pipeline with a multi-phased approach using contemporary geological, geochemical, and geophysical techniques. Its initial drill program targeting 5,000 metres, is near completion, it added.
Duparquet exploration opportunity
First Mining said it is taking a phased drilling approach at Duaprquet, designing exploration programs with strategies that instill confidence in historical modelling, as well as unlocking opportunities for expansion along strike and at the depth of existing delineated resources.
The company said it will initially target extensions along strike and down plunge of known modelled gold horizons in syenite and surrounding sedimentary and volcanic host rocks. These areas were introduced as a result of the consolidation of the properties following the acquisition of the Porcupine East claims, as well as other regional targets located in under-explored areas of the project.
It said it will start drilling activities in the 5,000-metre drilling campaign in the second quarter of 2023 - as well as the supporting work programs - to further develop geoscience and targets in the Duparquet Project pipeline and will further unlock the company’s regional understanding of the project's exploration potential.
"A modern geoscience compilation and modelling program identifies an exceptional gold system and exploration opportunity at the Duparquet Gold Project" First Mining vice president of exploration, James Maxwell added.
"The scale of the current resources, combined with the optionality to explore for deeper resource continuity and new discoveries, provides an impactful leverage for our company."
Contact the author at stephen.gunnion@proactiveinvestors.com