First Mining Announces Positive Updated Preliminary Economic Assessment for the Springpole Gold Project
Pre-Tax NPV5% of US$1.23 billion, Pre-Tax IRR of 26% and AISC of US$552/oz
Average Annual Gold Production of 410,000 ounces in Years 2 through 9
This news release constitutes a "designated news release" for the purposes of First Mining Gold's prospectus supplement dated August 19, 2019 to its short form base shelf prospectus dated June 24, 2019.
VANCOUVER, BC / October 16, 2019 / First Mining Gold Corp. ("First Mining" or the "Company") (TSX:FF) (OTCQX:FFMGF) (FRANKFURT:FMG) is pleased to announce the positive results of an updated independent Preliminary Economic Assessment ("PEA") completed for its 100%-owned Springpole Gold Project (the "Project") located in northwestern Ontario, Canada. The PEA contemplates an open pit mine and milling operation and reflects updated metallurgical testwork that has demonstrated the potential for significantly improved recoveries. The PEA also reflects updated operating and capital cost estimates.
- Published: 16 October 2019
- Written by Editor