First Mining Gold Corp. (TSX:FF, OTCQX:FFMGF) has outlined its key aims for the Springpole gold development project in Ontario in 2022 as the company bids to bolster the asset's green credentials and reduce potential costs.
In a wide-ranging update, the resource group also told investors that its chief operating officer (COO) Ken Engquist will leave with effect from January 14 to pursue another mining opportunity.
In January last year, First Mining completed a pre-feasibility study (PFS) for Springpole and is currently working on a feasibility-level metallurgical program, which is expected to be finished in the second quarter of this year.
READ: First Mining announces approval of Springpole Environmental Assessment Terms of Reference from Ontario’s Ministry of the Environment, Conservation and Parks
Currently, filtration test work is underway, which could mean a reduced sized filter plant used for processing, which, in turn, could mean reduced initial process plant capital costs, noted the firm.
Last year, First Mining also tested advanced flotation technologies with initial positive results supporting assumptions used in the Springpole PFS, it added. More detailed analysis is now warranted for simplifying the flow sheet.
Following the PFS, First Mining also completed an analysis of potential greenhouse gas (GHG) emissions and determined that opportunities exist to reduce emissions by reducing diesel consumption. More detailed analysis will be carried out during the feasibility study.
It also commissioned SLR Consulting to complete an initial scoping study on incorporating renewable power into the development.
In terms of the environmental assessment, the company added that Wood plc, on behalf of First Mining, has now undertaken technical modeling to inform the report.
This work covers areas, including geochemistry, groundwater quantity and quality, surface water quality, hydrology, air quality, noise and vibration, and terrestrial components.
Listing the key catalysts expected this year in the statement, First Mining offered:
- Commencement of the 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 feasibility study
- Completion and submission of the draft environmental assessment
On the departure of the COO, Dan Wilton, the CEO of First Mining, said: "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 endeavors. 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."
First Mining is focused on the development and permitting of the Springpole project in north-western Ontario - one of the largest undeveloped gold projects in Canada.
Its portfolio of gold projects in eastern Canada also includes Pickle Crow, Hope Brook, Cameron project, Duparquet, Duquesne, and Pitt gold.
Contact the author at giles@proactiveinvestors.com