Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
First Mining Gold (TSX: FF) has entered into an exploration agreement with Animakee Wa Zhing #37 First Nation (AWZ 37) covering the Cameron gold project, 80 km southeast of Kenora, Ontario.
The accord is intended to promote a co-operative, collaborative and mutually beneficial relationship that supports both the company’s exploration activities and the interests of the First Nation.
First Mining intends to control the environmental impact of its exploration by using drilling where existing drill and logging roads and trails. Thirty-six holes in a 4,000-metre diamond drill program are planned.
This year’s work will include the Dubenski, Dogpaw, East Cedar Tree, Angel Hill, and Robertson regional prospects. Next year’s drilling will focus on potential underground exploration at the Cameron deposit.
A 2013 preliminary economic assessment for the Cameron project estimated it could support a 10-year mine life.
In January 2017, measured and indicated resources were 5.5 million tonnes averaging 2.61 g/t gold for 464,000 oz. and the inferred resource was 6.5 million oz. averaging 2.54 g/t gold, for 533,000 oz.
(This article first appeared in the Canadian Mining Journal)
