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First Gold Exploration Inc. is a mineral exploration company formed in late 2006. The company has acquired significant interests in mineral properties that are easily accessible and which have reached the drilling and more advanced stages. At the present time, the portfolio consists of 2 option agreements allowing First Gold to earn-in at least a 50% interest in projects in the Abitibi sector of the province of Quebec and 1 Joint Venture.
The first goal of the Company is to put the Croinor Property into production: First Gold wants to join the ranks of Alexis Minerals (TSX: AMC) and Metanor (TSXV: MTO) as a junior gold producer with an annual output of 25,000 to 30,000 ounces of gold. First Gold has commissioned a scoping study and a new resource evaluation of its flagship Croinor Project.
With gold trading above 1,000$ CAD per ounce, we feel that the future cash flows of the Croinor deposit will greatly benefit its shareholders. As a former producer, Croinor does not have to go through time-consuming events to re-initiate production. The plan calls for the trucking of the ore to an existing mill where the last bulk samples milled came in with 97% recoveries. The resource extends from surface to a depth of 200 meters and already has 2.2 km of underground openings which provide access to the mineralized zones.
First Gold Exploration Inc. is a mineral exploration company formed in late 2006. The company has acquired significant interests in mineral properties that are easily accessible and which have reached the drilling and more advanced stages. At the present time, the portfolio consists of 2 option agreements allowing First Gold to earn-in at least a 50% interest in projects in the Abitibi sector of the province of Quebec and 1 Joint Venture.
The first goal of the Company is to put the Croinor Property into production: First Gold wants to join the ranks of Alexis Minerals (TSX: AMC) and Metanor (TSXV: MTO) as a junior gold producer with an annual output of 25,000 to 30,000 ounces of gold. First Gold has commissioned a scoping study and a new resource evaluation of its flagship Croinor Project.
With gold trading above 1,000$ CAD per ounce, we feel that the future cash flows of the Croinor deposit will greatly benefit its shareholders. As a former producer, Croinor does not have to go through time-consuming events to re-initiate production. The plan calls for the trucking of the ore to an existing mill where the last bulk samples milled came in with 97% recoveries. The resource extends from surface to a depth of 200 meters and already has 2.2 km of underground openings which provide access to the mineralized zones.
