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First Energy Metals Limited is a junior resource company engaged in the exploration and development of precious metals properties in North America. The Company’s goal is to acquire prospective precious metals projects and develop them.
The Company has recently optioned 2 gold properties located in British Columbia. The Kokanee Creek gold property consists of three mineral claims covering approximately 1,590.29 hectares in the Nelson Mining Division. The property is located in a very active area with several historical and current gold, silver, and base metal companies located in the region. The second property, Independence gold property consists of two mineral claims totalling 1,099.43 hectares in Southeastern British Columbia.
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Vancouver, B.C. (July 01, 2020) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce it has completed the first round of exploratory fieldwork at the Scramble Mine gold property located in Northwestern Ontario, Canada. The work included prospecting to locate historical mineralization areas, carry out channel and grab surface sampling, mapping historical gold mineralization veins and structures, and developing a detailed Phase 2 exploration work plan. The initial field observations confirmed location of historical underground workings, mineralized quartz veins, and the host rock in shear zone. A 6-metre interval and 5 grab samples were collected to further understand the extent of gold mineralization along strike of the historic mining location. The company also completed a large georeferencing program of past operator’s diamond drill holes, mine shaft, and surface trench locations. Ground truthing of the most recent geological map of the area was completed during this campaign as well.
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PHYLLIS COBALT PROPERTY
The Phyllis claim block occupies the central portion of a ENE-WSW trending greenstone belt, consisting of Mesoarchean to Neoarchean age mafic to ultramafic rocks. These are bound by granite of varying composition - ranging from tonalite to biotite-granodiorite (Atikokan-Lakehead Sheet Map 2065) as shown in Figure 1. Recent mapping undertaken by the Ontario Geological Survey (Gulliver River Sheet, Map 3370), which includes a small portion of the Phyllis claims, suggests that there is a greater abundance of ultramafic metavolcanics than previously indicated. The regional foliation follows the general trend of the greenstone belt.
The initial cobalt discovery was made in 2010 by Don Dobransky, named the “Phyllis Central” occurrence. This discovery is characterized by an 80m x 60m outcrop and appears as a fairly structureless gabbro, with the exception of an array of narrow quartz veins and veinlets, which have sharp contacts with the country rock and trend roughly NE-SW, and appear to have been intruded relatively recently. The gabbro itself is fine-to medium grained and appears highly altered. The exposed outcrop follows the northern flank of a gentle hill. Earlier excavations focussed in the uppermost parts of the topographic profile. The sampling as seen in Figure 2. This worked confirmed the presence of economic grades of cobalt mineralization up to 0.33% Co (including 1.2% Cu and 0.39% Ni).
KOKANEE CREEK GOLD PROPERTY
The Kokanee Creek gold property consists of three mineral claims covering approximately 1,590.29 hectares in the nelson mining division in British Columbia. It is located 18 kilometres to the east of Nelson on NTS map 082F055. The property is part of a very active mining area with several historical and current gold, silver and base metal deposits located in the region. Nelson is a historical mining town dating back to the discovery of the Toad Mountain silver deposit in 1886. The Blue Bell mine, located near the town of Riondel approximately 20 kilometres northeast of the Kokanee Creek claims, is a manteau-type base metal deposit hosted by the Badshot limestones of the Lardeau Group. Closer to the Kokanee claims are historical past producers the Molly Gibson and the Alpine.
- Gold mineralization indicated in surface samples from historical work since 1979.
- Subsurface gold mineralization discovered in drill holes.
- Continuity of mineralized zones indicated through geological mapping, geochemical, and geophysical survey.
- Past producing mines in the vicinity including the Molly Gibson and the Alpine deposits.
- Historical production reported for the Molly Gibson Mine between 1909-1940 was at an average grade of 36.1 g/t Au and 15.3 g/t silver with recent exploration returning samples running up to 270 g/t Au.
- Revived exploration on the Alpine deposit area has reported a 2018 inferred resource of 142,000 oz at 16.52 g/t Au using a cut-off grade of 5.0 g/t.
2005 Airborne Geophysical Survey Identified Targets:
A 2004-2005, a high resolution 78-line -km Time Domain Electro Magnetic geophysical survey was flown over the Kokanee Creek Project. The survey revealed magnetic high features in the south western part of the property and two areas were flagged for further work with sampling at Anomaly A area returning a 5-metre chip sample that assayed 2.26 g/t gold.
INDEPENDENCE GOLD PROPERTY
The Independence Gold Property consists of two mineral claim blocks totaling 1,099.43 hectares land in southeastern British Columbia. The project is located 20 to 29 kilometres to the southeast of Nakusp on the eastern slope of Silver Mountain on NTS map 082K. The area has excellent infrastructure and is accessible by B.C. Highway 6 and numerous logging roads.
The Project is located in the vicinity of an active mining area with historical placer and lode gold mining in Columbia River, Miner City and Caribou Creek during the late 1800s’ and early 1900s’. Several gold discoveries were made during that period, including Millie Mac Mine which produced at grades of 31 g/t gold and 1,980 g/t silver until the 1930s’.
SCRAMBLE MINE PROPERTY
First Energy holds an option to acquire a 100% interest in the Scramble Mine Gold Property, located approximately 8 kms east of the town of Kenora in Northwestern Ontario.
The Scramble Mine gold property is comprised of six mining claims covering approximately 140 hectares land and encompasses a gold mine originally discovered in 1894 .The mine area remained essentially dormant until 1984 when Boise Cascade Canada Ltd. commenced an evaluation of the property and since 1984, approximately 5,200 meters of diamond drilling, 250 meters of surface stripping with sampling and 450 meters of underground development have taken place.
Rock cut displaying sheared rock with gold bearing pyrite
Local quartz-calcite veins through sheared volcanics
Pyrite-gold enriched volcanic units and veins extend over 550m on surface and previous drilling extended the mineralization to 915 meters of strike length and to a depth of 366 to 475m.
An historical non-compliant resource at the Property contained a total of 150,000 tons of ore at an average grade at 6.8 grams/ton gold using a cutoff grade of 1.42 g/t. First Energy plans to advance the project utilizing modern geophysics and deeper drilling. The companies believe that the mineralized envelope extends further from the previous limited drilling and seeks to better define areas of higher-grade gold as previous work reported values of up to 259 grams/ton Au.
For more information go to: https://www.firstenergymetals.com/en/projects/scramble-mine-property/
Phyllis Cobalt Property https://www.firstenergymetals.com/en/projects/cobalt-property/
Kokanee Creek Gold Property https://www.firstenergymetals.com/en/projects/kokanee-creek-gold-property-new/
Independence Gold Property https://www.firstenergymetals.com/en/projects/independence-gold-property/
Scramble Mine Property https://www.firstenergymetals.com/en/projects/scramble-mine-property/
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DIRECTORS & MANAGEMENT
Chief Executive Officer and Director
Mr. Sangha is experienced in the financial industry with a particular focus of providing advisory services to both private and publicly traded companies. He brings over 18 years of diverse experience related to financial management, business leadership, and corporate strategy. While serving as a board member of various publicly traded listed companies he has led initiatives related to corporate finance, business development, and corporate governance. Mr. Sangha holds a MBA from both Queens University and Cornell University.
Chief Financial Officer and Corporate Secretary
Mr. Wolf has been involved in the oil and gas industry for more than 15 years, assisting public companies with investor relations and administration. Mr. Wolf was educated in Germany and immigrated to Canada in 1953. From 1958 to 1982 he operated and owned pre-cast concrete factories in Calgary and Vancouver, and from 1982 to 2002 he operated and owned J.A. Wolf Projects, Ltd., a commercial construction company. Mr. Wolf was President and a director of former US Oil and Gas Resources Inc., which amalgamated to form Petrichor Energy Inc. in 2005. Mr. Wolf is a director of several public companies.
Mr. Craig Alford(P.Geo)
Mr. Alford holds both a Bachelor of Science (Hons) and a Master of Science in Geology. He is a registered Professional Geoscientist (P.Geo) in Ontario and is a Qualified Person, as defined in National Instrument 43-101. During his 30 years of experience worldwide, Mr. Alford has designed, managed and provided technical direction for projects throughout North and South America, China, Central Asia, Russia, Australia and Africa. Mr. Alford’s experience has included senior positions for a number of large mining companies including, Zijin Mining Group, China Railway, and Teck Mining Ltd.
Mr. Alford’s tenure with the Zijin Mining Group he was part of the team that was responsible for an approximate $80 million investment in Pretium Resources Inc. Pretium now has production targeted for its Northern BC, Canada site in 2017. The other major investments Mr. Alford was involved with at Zijin was the $298 million investment into Barrick Gold Porgera mine and the $412 million investment into Ivanhoe Mines Ltds’ Kamoa Copper Project. The Kamoa project is expected to be one of the biggest copper mines in the world. He has directly negotiated with several Heads of State, as well as assisting the World Bank and the China-Africa Development Fund in tax policy, planning and investment risk.
Mr. McLennan brings over 20 years of experience in the financial services sector as a licenced broker. His career began at Yorkton Securities which later became Richardson GMP, Mr. McLennan left the brokerage business in 2016 and has been working as a Corporate Development consultant since that time. Mr. McLennan holds a Bachelor of Arts – Economics from Concordia University.
Mr. Grewal is a solicitor in England and Wales and admitted as an attorney in the state of New York. He has studied law at the London School of Economics, and holds a law degree from the University of London, an LLM in international business law from the IE Law School in Madrid and an MSc in global finance from Cass Business School in London. He has experience working in Canada, the United States and the United Kingdom, and in Europe. He has advised on various capital market transactions in various jurisdictions, and has experience working with both international law firms and multinational corporations.
For Additional information Contact
First Energy Metals, Inc (CNX:FE)
Vancouver, BC, CAN, V6G 3E3
First Energy Metals CNX:”FE”, OCT:”ASKDF”
First Energy Metals Limited (formerly “Agave Silver “) was incorporated on October 12, 1966 in the Province of British Columbia. The Company’s common shares trade on the Canadian Securities Exchange under the symbol FE and are also listed on the US OTC Markets (Pink) as ASKDF and on the Frankfurt Stock Exchange under the WKN: A2JC89
- CNX FE
- OTC ASKDF: Website
- First Energy Metals Limited