Vancouver, B.C. (October 14, 2020) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce that it has submitted to the laboratories, a bulk sample collected from its Scramble Mine gold property located in Northwestern Ontario, Canada. Pleson Geoscience was contracted to collect approximately 100-kilogram representative sample of mineralized material from the Property. The sample was gathered from the main quartz vein as well as the dump material at the mine site. The Company has contracted Bureau Veritas Minerals (BVM) in Vancouver to conduct the metallurgical testwork as per its proposal using the following procedures.
- As the main interest values for this project, the gold and silver analyses will be done by standard fire assay procedures. Sulphur will be analyzed by Leco. Other metals by ICP following a full acid digestion.
- QEMSCAN/MLA mineralogy analysis will be done on test sample to identify and quantify the mineralogical characteristics of the test sample.
- Three process options including gravity, flotation and cyanidation will be evaluated to investigate the sample’s amenability to each process option.
- Each process option will be tested at a target grind P80 75 μm to investigate the baseline response.
- Prior to metallurgical testing, one test grind using a laboratory stainless steel rod mill will be performed to determine the time required to grind the sample to P80 75 μm.
- The gravity separation will be carried out in two stages. Rougher gravity separation will be performed using a Knelson or a Falcon Gravity Centrifugal Concentrator.
- The flotation test will be conducted on P80 75 μm ground whole-sample in a Denver D12 laboratory flotation machine using standard gold/silver and sulfide flotation reagents.
- As another alternative process to gravity separation and flotation, bottle roll cyanide leaching will be carried out on the test sample to evaluate the sample’s amenability to cyanidation process.
The bulk sampling work is a follow up of grab sampling results with average of 29.34 grams per tonne (1.03 ounces per tonne) in ten grab samples (see Company’s news release dated September 03, 2020). The metallurgical testwork results will be available in approximately six week’s time.
Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About Scramble Mine Gold Property
The Scramble Mine gold property is comprised of six mining claims covering approximately 140 hectares land, located in Jaffray Township, Kenora Mining District, approximately 8 kilometres east of the town of Kenora in Northwestern Ontario. The mine was discovered in 1894 but after an initial exploration phase remained essentially dormant until 1984 when Boise Cascade Canada Ltd. commenced an evaluation of the property. Since 1984, approximately 5,200 metres of diamond drilling, 250 metres of surface stripping with sampling and 450 metres of underground development have taken place. The zone of mineralization, including pyrite-gold enriched biotite-rich schist felsic units and veins, extends on surface and in drill holes for about 550 metres. Size of the deposit is 915 meters (m) long along strike, 3.7 m wide and 366 m to 475 m deep. Historical resource at the Property is estimated at 150,000 tons at an average grade of 0.24 ounces per ton (opt) (6.8 grams/ton) (having grades of up to 9.15 opt (259 grams/ton). The deposit is documented to have 70,000 ounces of contained gold using a cutoff grade of 0.05 opt (1.42 grams/ton).
Cautionary Statement: A) Investors are cautioned that the above information has been taken from Ontario Ministry of Northern Development and Mines (MNDM) online database. The reference for Scramble Mine information as documented in MNDM records is: “Parr, M. and Kuehnbaum, R. 1990. The Scramble Mine Gold Deposit; Field Trip No.2, Canadian Institute Mining, Metallurgy and Petroleum, Exploration and Mining Geology, 14th Annual Meeting, pp. 41-65”. The Company has not verified the information available. A qualified person from the Company has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves; and the Company is not treating the historical estimate as current mineral resources or mineral reserves. The Company believes that the historic estimate is relevant to an appraisal of the merits of the property and forms a reliable basis upon which to develop future exploration programs. The Company will need to conduct further exploration which will include drill testing the project, and there is no guarantee that the results obtained will reflect the historical estimate.
B) Grab samples reported in September 03, 2020 news release are selected samples and are not necessarily representative of the mineralization hosted on the property.
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the precious metal, base metal and industrial metals sector.
The company’s strategy is to:
- Acquire and advance projects through prospecting and early-stage exploration;
- Source joint venture partners to finance future exploration and project development;
- Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
President & Chief Executive Officer
For further information, please contact the Company at: firstname.lastname@example.org
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s proposed Transaction with Pleson Geoscience; and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company’s proposed Transaction with Pleson Geoscience may not be completed on the terms and timing currently contemplated, or at all; and other risks as more fully set out in the Company’s continuous disclosure filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals and close the proposed Transaction with Pleson Geoscience. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.