Champion Iron Limited press release

First Mining Expansion Target Drilling Identifies Two New Gold Discoveries at the Duparquet Gold Project

2025-01-20

TSX - Toronto Stock Exchange · Iron · Aluminium · Manganese · Copper · Zinc · Australia · Drill Results

Canada NewsWire

Miroir Discovery – 3.12 g/t Au over 19.35 m occurring 225 m north of the Valentre target A iguille Discovery – 8.99 g/t Au over 3.1 m occurring 150 m south of the Valentre target Valentre – 142 Au mineralized intercepts identified, supporting zone continuity between Central Duparquet and Dumico target areas that demonstrates a robust resource expansion opportunity

VANCOUVER, BC , Jan. 20, 2025 /CNW/ - First Mining Gold Corp. ("First Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce new drilling results from the 2024 Phase 3 diamond drilling program at its Duparquet Gold Project (" Duparquet Project " or the " Project ") located in Quebec, Canada .

First Mining has identified two new discovery gold zones during the expansion drilling at the Valentre target. Assay results for the newly discovered "Miroir Zone", located north of the Valentre target, returned 3.12 g/t Au over 19.35 m , including 5.47 g/t Au over 9.6 m . Further drill results from the program identified a second discovery, the "Aiguille Zone", occurring south of the Valentre target, returning 8.99 g/t Au over 3.1 m . In total, 142* unique mineralized intercepts in 16 drill holes have been encountered in the Valentre expansion area, including the new discoveries at Miroir and Aiguille. These new drill results support a strong continuity in mineralization within the Central Duparquet , Valentre and Dumico (" CVD ") area, while highlighting an affinity for additional discovery zones with increasing exploration at the Duparquet Project.

"The discovery of these two new gold zones at our Duparquet Gold Project demonstrates the continued success of our exploration program at the Project," stated Dan Wilton , CEO of First Mining. "With more than two full exploration seasons now under our belt at Duparquet , our team is producing exceptional drill results with a degree of predictability supported by a robust geoscience foundation. On top of the existing mineral resource base of 3.44 Moz of Measured & Indicated resource and 2.64 Moz of Inferred resource, these results demonstrate that Duparquet is well positioned to achieve significant resource growth, demonstrating that Duparquet is one of the strongest gold-endowed assets in Canada , strategically located in the heart of the Abitibi gold belt in Quebec ."

A map highlighting the target locations in the CVD area, including Miroir and Aiguille, as well as locations of recent drill holes is presented in Figure 1, and corresponding assay highlights are presented in Table 1, with full assay results listed in Table 2 and drill hole locations in Table 3.

_*Represents all intercepts reporting above 0.4 g/t Au over 3 m in the CVD area, supporting mineralization continuity _

[](https://mma.prnewswire.com/media/2600897/First_Mining_Gold_CorpFirst_Mining_Expansion_Target_Drilling_I.html)

Table 1: Selected Significant Drill Intercepts, 2024 Phase 3 Drill Program – CVD Target Area

| Hole ID | | From (m) | To (m) | Length (m) | Grade (Au g/t) | Target | | DUP24-035 | | 93.0 | 100.0 | 7.0 | 2.07 | Valentre | | DUP24-035 | inc. | 95.0 | 96.0 | 1.0 | 8.88 | Valentre | | DUP24-035 | | 157.3 | 160.5 | 3.2 | 4.14 | Valentre | | DUP24-035 | inc. | 159.4 | 160.0 | 0.6 | 9.42 | Valentre | | DUP24-036 | | 215.2 | 225.4 | 10.2 | 3.27 | Valentre | | DUP24-036 | inc. | 220.5 | 225.4 | 4.9 | 5.23 | Valentre | | DUP24-037 | | 72.75 | 82.9 | 10.15 | 2.11 | Valentre | | DUP24-038 | | 83.0 | 85.2 | 2.2 | 12.46 | Valentre | | DUP24-038 | inc. | 84.45 | 85.2 | 0.75 | 27.40 | Valentre | | DUP24-041 | | 169.90 | 185.0 | 15.1 | 3.54 | Central Duparquet | | DUP24-041 | inc. | 177.35 | 184.0 | 6.65 | 5.53 | Central Duparquet | | DUP24-041 | | 353.1 | 364.15 | 11.05 | 1.87 | Aiguille | | DUP24-041 | inc. | 359.1 | 359.8 | 0.7 | 8.35 | Aiguille | | DUP24-043 | | 308.84 | 326.32 | 17.48 | 2.16 | Valentre | | DUP24-043 | inc. | 314.56 | 318.52 | 3.96 | 4.55 | Valentre | | DUP24-043 | and inc. | 325.79 | 326.32 | 0.53 | 11.80 | Valentre | | DUP24-044 | | 545.9 | 549.0 | 3.1 | 8.99 | Aiguille | | DUP24-044 | inc. | 548.0 | 549.0 | 1.0 | 15.50 | Aiguille | | DUP24-048 | | 6.75 | 26.1 | 19.35 | 3.12 | Miroir | | DUP24-048 | inc. | 15.5 | 25.1 | 9.6 | 5.47 | Miroir | | DUP24-048 | inc. | 22.1 | 25.1 | 3.0 | 11.26 | Miroir |

_*Reported intervals are drilled core lengths (true widths are estimated at 75-85% of the core length interval, assay values are uncut) _

Upcoming Duparquet Exploration Programs

A portion of the upcoming drill programs will be focused at the newly discovered Miroir and Aiguille discovery zones, where the aim is to continue advancing and drill testing the exploration potential along strike and at depth (Figure 2). The CVD area has returned significant upside and value to the Duparquet project to date and it will remain a focus area for exploration optimization and potential extension of the mineral resource. Further drilling will also provide advancement at the highly prospective Buzz target and North Zone with a focus on growth as well as the top regional targets delineated in 2024, further supporting opportunity for new discoveries.

[](https://mma.prnewswire.com/media/2600898/First_Mining_Gold_CorpFirst_Mining_Expansion_Target_Drilling_I.html)

"For 2025, our team is planning for increased drilling programs that will capitalize on our momentum through a continued opening of the exploration space at Duparquet ," stated James Maxwell , VP Exploration and Project Operations of First Mining. "We anticipate expanded outcomes with each additional drill metre by leveraging our foundational geoscience platforms to establish the Duparquet Project as a top-tier gold endowment in the Abitibi Greenstone Belt."

Central Duparquet , Valentre and Dumico ("CVD")

The 2024 drilling program at the CVD area totalled 16 holes and 4,644 m . The CVD drilling campaign was aimed at testing approximately 200 m of strike length at the targeted area, which has demonstrated significant potential for resource expansion through on-strike extension drilling and north and south step-outs within the CVD area (Figure 2). Expanding the exploration search space is a core aspect of the growth strategy for the Project, including the evaluation of areas that have never been drill tested. Recent results in the CVD area have demonstrated a high degree of mineralization continuity, along with two new gold discoveries (Miroir and Aiguille), located to the north and south of the Valentre target. These results have expanded the CVD target area, which now boasts a gold mineralization footprint extending 1,700 m east-west in a corridor approximately 500 m wide. The depth potential remains largely underexplored, presenting significant opportunities for further evaluation.

Additional Details on CVD, Aiguille, and Miroir Drilling

CVD

The Valentre portion of the CVD drilling strategy has been focused on targeting the mineralization continuity of multiple gold zones that occur within an underexplored area east of the main Duparquet resource centre where the opportunity for significant strike extension has been identified. The Valentre target area spans approximately 200 m along strike between two established centres of mineral resource wireframes ( Central Duparquet and Dumico), where drilling aims to support continuity and ultimately provide a new centre for resource growth. First Mining completed an initial drill test to derisk this opportunity during their Phase 1 drill program conducted in 2023 ( see press release date September 5, 2023 ) that returned a total of six discrete gold intercepts central to the area, which prompted additional drilling.

Recent results from the 2024 drilling programs have returned further supporting intercepts which include 3.27 g/t Au over 10.2 m from 215.2 m to 225.4 m in drill hole DUP24-036, 2.11 g/t Au over 10.15 m from 72.75 m to 82.9 m in drill hole DUP24-037, and 2.16 g/t Au over 17.48 m including 3.96 g/t Au over 4 m from 314.56 m to 318.52 m , and including 11.80 g/t Au over 0.53 m from 325.79 m to 326.32 m in drill hole DUP24-043 (Figure 3). The drill data collected to date is now being integrated into updated geoscience models, aimed at developing new and refined wireframes within the trend. These updates will support potential resource additions while targeting higher-grade zones for exploration at depth where the target remains open.

The Central Duparquet and Dumico portion of the CVD drilling strategy was focused on potential resource expansion at depth and increasing the geoscience confidence of the controls on mineralization along strike between the Central Duparquet , Valentre, and Dumico areas. In 2024, the Central Duparquet drill program comprised three holes - DUP24-027 ( see press release date August 28, 2024 ), DUP24-041, and DUP24-044, with DUP24-041 returning 3.54 g/t Au over 15.1 m from 169.9 m to 185.0 m . This program was successful in testing the secondary plunge to the higher-grade zones in the Central Duparquet area. The higher-grade zones are theorized to plunge steeply to the west or near-vertical along the main mineralization trend, and in this area they remain open at depth. The 2024 Dumico drill program comprised one drillhole (DUP24-047) which returned 1.56 g/t Au over 10.80 m from 235.2 m to 246.0 m , including 1 m at 6.84 g/t Au from 238.0 m to 239 m . This program was successful in further expanding and confirming the resource potential at depth in the Dumico area.

Gold mineralization at the CVD area is hosted within mineralized silica- and sericite-altered syenite units with very fine-grained disseminated pyrite ranging from 0.5 - 3%. Gold mineralization is also coincident with dark smokey quartz veins and veinlets, with up to 3% fine-grained disseminated pyrite mineralization. The gold-mineralized quartz veins are hosted within syenite units, and intervals of alternating syenite and mafic and ultramafic volcanic units.

[](https://mma.prnewswire.com/media/2600900/First_Mining_Gold_CorpFirst_Mining_Expansion_Target_Drilling_I.html)

Miroir

The new gold discovery, Miroir, was identified during the recent Valentre expansion drilling. Drill hole DUP24-048 was collared 250 metres to the north of Valentre in an effort to step back and drill under areas of previous drilling success at Valentre ( see press release dated August 28, 2024 ), and to intersect the underexplored northern contact of the mafic volcanic-syenite contact area which has demonstrated a stronger affinity for higher-grade mineralization in the North Zone target area of the Project. The Miroir zone is located 225 m to the north of the Valentre target and is initially intercepted at bedrock level, making it an extremely encouraging shallow exploration opportunity for further advancement (Figure 5). Assays from drill hole DUP24-048 in the Miroir zone returned 3.12 g/t Au over 19.35 m from 6.75 m to 26.10 m , including 5.47 g/t Au over 9.60 m from 15.5 m to 25.1 m (Figure 4).

Miroir mineralization is hosted within a silica-altered basalt unit with up to 5% very fine-grained fracture-controlled pyrite mineralization and fine-grained disseminated pyrite mineralization that occurs immediately adjacent to the contact with the CVD syenite. Rheologic contrast between the geochemically favourable volcanic host rock units and the syenite are interpreted as favourable settings for gold mineralization and are being prioritized as high-value exploration drilling targets at the Duparquet Project. Strong grade and width accompanied by these factors are similar to that seen at the North Zone target and are thought to "mirror" recent success in drilling at the North Zone where results included 5.97 g/t Au over 33.0 m in hole DUP24-024 ( see press release dated June 18, 2024 ) and which is located approximately 1,500 m to the northwest of the Miroir Discovery.

[](https://mma.prnewswire.com/media/2600902/First_Mining_Gold_CorpFirst_Mining_Expansion_Target_Drilling_I.html)

[](https://mma.prnewswire.com/media/2600904/First_Mining_Gold_CorpFirst_Mining_Expansion_Target_Drilling_I.html)

Aiguille

The second new gold discovery, Aiguille, was also identified during the 2024 follow-up drilling at Valentre. Drill hole DUP24-041 was extended beyond the target depth by site geologists, owing to a change in the expected geology surrounding Valentre identified during the drilling. Lithologies intersected were syenite units with favourable sericite alteration and fine-grained disseminated pyrite sulphide mineralization, which were fairly continuous in an area where volcanic lithologies are typically intruded by lesser syenite units and bounded by gabbro. A geoscience-driven extension of this drill hole resulted in the discovery of the Aiguille zone, with hole DUP24-041 returning 1.87 g/t Au over 11.05 m from 353.1 m to 364.15 m , including 8.35 g/t Au over 0.7 m from 359.1 m to 359.8 m . An adjustment in the next CVD hole delivered even more favourable results, with hole DUP24-044 returning 8.99 g/t Au over 3.10 m from 545.9 m to 549.0 m , including 15.5 g/t Au over 1.0 m from 548 m to 549 m (Figure 6).

The discovery zone is located 150 m south of the main Valentre area and remains significantly underexplored, promoting positive opportunities for further drilling at Aiguille with a focus on delineating additional zones and an area for further expansion, at relatively higher grades for the Project. Aiguille mineralization is hosted within silica- and sericite-altered syenite units and graphitic argillite, with fine-grained disseminated pyrite mineralization up to 5% and dark smokey quartz veining. Increased volume and scale in combination with the mineralization styles including sulphides and veins is interpreted as being attributable to the returned higher Au grades, in comparison to the conventional CVD mineralization overall. First Mining will follow up with additional drilling at this target area in 2025, with an opportunity to expand and extend the mineralization up-dip and along strike.

[](https://mma.prnewswire.com/media/2600906/First_Mining_Gold_CorpFirst_Mining_Expansion_Target_Drilling_I.html)

Table 2: Phase 3 Valentre, Central Duparquet , Dumico, Aiguille, and Miroir Drilling - Assay Results

| Hole ID | | From (m) | To (m) | Length (m) | Grade ( Au g/t) | Target | | DUP24-034 | | 18.75 | 19.50 | 0.75 | 0.79 | Valentre | | DUP24-034 | | 24.75 | 25.55 | 0.80 | 0.53 | | | DUP24-034 | | 32.40 | 41.00 | 8.60 | 0.55 | | | DUP24-034 | | 46.85 | 48.25 | 1.40 | 0.77 | | | DUP24-034 | | 52.00 | 53.00 | 1.00 | 0.46 | | | DUP24-035 | | 34.85 | 35.60 | 0.75 | 0.65 | Valentre | | DUP24-035 | | 82.70 | 83.55 | 0.85 | 0.44 | | | DUP24-035 | | 88.50 | 89.30 | 0.80 | 0.41 | | | DUP24-035 | | 93.00 | 100.00 | 7.00 | 2.07 | | | DUP24-035 | inc. | 95.00 | 96.00 | 1.00 | 8.88 | | | DUP24-035 | | 115.10 | 116.80 | 1.70 | 0.44 | | | DUP24-035 | | 133.10 | 140.25 | 7.15 | 1.34 | | | DUP24-035 | | 157.30 | 160.50 | 3.20 | 4.14 | | | DUP24-035 | inc. | 159.40 | 160.00 | 0.60 | 9.42 | | | DUP24-036 | | 113.00 | 114.00 | 1.00 | 0.60 | Valentre | | DUP24-036 | | 128.00 | 129.00 | 1.00 | 0.45 | | | DUP24-036 | | 147.55 | 148.45 | 0.90 | 0.40 | | | DUP24-036 | | 156.75 | 160.00 | 3.25 | 0.43 | | | DUP24-036 | | 164.65 | 165.30 | 0.65 | 0.58 | | | DUP24-036 | | 179.00 | 181.00 | 2.00 | 1.16 | | | DUP24-036 | | 186.50 | 187.50 | 1.00 | 0.45 | | | DUP24-036 | | 199.95 | 201.25 | 1.30 | 0.71 | | | DUP24-036 | | 215.20 | 225.40 | 10.20 | 3.27 | | | DUP24-036 | inc. | 220.50 | 225.40 | 4.90 | 5.23 | | | DUP24-037 | | 23.00 | 25.00 | 2.00 | 0.85 | Valentre | | DUP24-037 | | 29.00 | 30.00 | 1.00 | 0.50 | | | DUP24-037 | | 38.40 | 39.40 | 1.00 | 1.32 | | | DUP24-037 | | 62.35 | 68.25 | 5.90 | 1.07 | | | DUP24-037 | | 72.75 | 82.90 | 10.15 | 2.11 | | | DUP24-038 | | 16.65 | 19.15 | 2.50 | 0.52 | Valentre | | DUP24-038 | | 24.00 | 25.00 | 1.00 | 1.16 | | | DUP24-038 | | 35.00 | 36.00 | 1.00 | 0.58 | | | DUP24-038 | | 77.25 | 78.00 | 0.75 | 1.25 | | | DUP24-038 | | 83.00 | 85.20 | 2.20 | 12.46 | | | DUP24-038 | inc. | 84.45 | 85.20 | 0.75 | 27.40 | | | DUP24-038 | | 107.85 | 119.00 | 11.15 | 0.87 | | | DUP24-038 | | 131.00 | 131.95 | 0.95 | 0.68 | | | DUP24-038 | | 184.00 | 186.40 | 2.40 | 0.64 | | | DUP24-039 | | 25.00 | 26.00 | 1.00 | 0.45 | Valentre | | DUP24-039 | | 37.00 | 37.85 | 0.85 | 0.47 | | | DUP24-039 | | 109.10 | 118.25 | 9.15 | 0.65 | | | DUP24-039 | | 133.65 | 134.45 | 0.80 | 0.44 | | | DUP24-039 | | 180.40 | 181.40 | 1.00 | 0.43 | | | DUP24-040 | | 22.00 | 23.70 | 1.70 | 0.54 | Dumico | | DUP24-040 | | 34.00 | 34.70 | 0.70 | 0.88 | | | DUP24-040 | | 87.75 | 88.45 | 0.70 | 0.57 | Valentre | | DUP24-040 | | 107.70 | 108.40 | 0.70 | 0.42 | | | DUP24-040 | | 155.00 | 159.00 | 4.00 | 0.87 | | | DUP24-040 | | 166.00 | 166.75 | 0.75 | 0.90 | | | DUP24-040 | | 181.00 | 186.50 | 5.50 | 0.63 | | | DUP24-041 | | 134.00 | 135.80 | 1.80 | 3.33 | Central Duparquet | | DUP24-041 | | 169.90 | 185.00 | 15.10 | 3.54 | | | DUP24-041 | inc. | 177.35 | 184.00 | 6.65 | 5.53 | | | DUP24-041 | | 191.00 | 196.00 | 5.00 | 0.83 | | | DUP24-041 | | 201.50 | 211.00 | 9.50 | 1.92 | | | DUP24-041 | inc. | 204.00 | 205.00 | 1.00 | 7.23 | | | DUP24-041 | | 219.30 | 224.05 | 4.75 | 1.01 | | | DUP24-041 | | 299.65 | 300.35 | 0.70 | 0.50 | | | DUP24-041 | | 353.10 | 364.15 | 11.05 | 1.87 | Aiguille | | DUP24-041 | inc. | 359.10 | 359.80 | 0.70 | 8.35 | | | DUP24-043 | | 107.30 | 107.85 | 0.55 | 1.03 | Valentre | | DUP24-043 | | 248.20 | 249.20 | 1.00 | 0.57 | | | DUP24-043 | | 294.54 | 295.76 | 1.22 | 0.51 | | | DUP24-043 | | 308.84 | 326.32 | 17.48 | 2.16 | | | DUP24-043 | inc. | 314.56 | 318.52 | 3.96 | 4.55 | | | DUP24-043 | and inc. | 325.79 | 326.32 | 0.53 | 11.80 | | | DUP24-043 | | 329.65 | 335.17 | 5.52 | 1.62 | | | DUP24-043 | | 345.30 | 346.39 | 1.09 | 1.08 | | | DUP24-043 | | 351.82 | 372.63 | 20.81 | 1.56 | | | DUP24-043 | inc. | 357.96 | 365.74 | 7.78 | 3.31 | | | DUP24-043 | | 422.34 | 422.93 | 0.59 | 0.44 | | | DUP24-043 | | 429.02 | 431.02 | 2.00 | 0.97 | | | DUP24-043 | | 442.05 | 445.74 | 3.69 | 2.00 | | | DUP24-043 | | 454.85 | 455.44 | 0.59 | 0.75 | | | DUP24-044 | | 11.00 | 11.90 | 0.90 | 0.59 | Central Duparquet | | DUP24-044 | | 35.00 | 41.00 | 6.00 | 1.73 | | | DUP24-044 | | 286.00 | 288.15 | 2.15 | 1.00 | | | DUP24-044 | | 301.30 | 305.00 | 3.70 | 1.82 | | | DUP24-044 | | 321.00 | 340.00 | 19.00 | 1.13 | | | DUP24-044 | | 345.00 | 360.00 | 15.00 | 1.27 | | | DUP24-044 | inc. | 355.00 | 356.20 | 1.20 | 7.09 | | | DUP24-044 | | 377.45 | 378.00 | 0.55 | 0.55 | | | DUP24-044 | | 403.50 | 404.00 | 0.50 | 4.66 | | | DUP24-044 | | 473.50 | 474.50 | 1.00 | 0.98 | Aiguille | | DUP24-044 | | 500.40 | 501.00 | 0.60 | 3.33 | | | DUP24-044 | | 540.90 | 541.90 | 1.00 | 0.40 | | | DUP24-044 | | 545.90 | 549.00 | 3.10 | 8.99 | | | DUP24-044 | inc. | 548.00 | 549.00 | 1.00 | 15.50 | | | DUP24-047 | | 33.80 | 34.50 | 0.70 | 0.54 | Dumico | | DUP24-047 | | 48.00 | 50.00 | 2.00 | 0.62 | | | DUP24-047 | | 55.00 | 56.00 | 1.00 | 0.50 | | | DUP24-047 | | 59.00 | 60.95 | 1.95 | 1.81 | | | DUP24-047 | | 103.00 | 106.45 | 3.45 | 1.22 | | | DUP24-047 | | 114.00 | 115.10 | 1.10 | 0.61 | | | DUP24-047 | | 210.50 | 214.45 | 3.95 | 0.75 | | | DUP24-047 | | 218.50 | 219.50 | 1.00 | 0.69 | | | DUP24-047 | | 226.00 | 228.00 | 2.00 | 0.75 | | | DUP24-047 | | 235.20 | 246.00 | 10.80 | 1.56 | | | DUP24-047 | inc. | 237.00 | 242.00 | 5.00 | 2.86 | | | DUP24-047 | inc. | 238.00 | 239.00 | 1.00 | 6.84 | | | DUP24-047 | | 251.40 | 255.00 | 3.60 | 1.32 | | | DUP24-047 | | 266.25 | 266.85 | 0.60 | 1.18 | | | DUP24-047 | | 271.00 | 274.00 | 3.00 | 1.55 | | | DUP24-047 | | 355.00 | 356.50 | 1.50 | 0.86 | | | DUP24-047 | | 359.00 | 359.75 | 0.75 | 0.73 | | | DUP24-047 | | 371.05 | 371.80 | 0.75 | 0.42 | | | DUP24-047 | | 382.25 | 382.75 | 0.50 | 3.13 | | | DUP24-047 | | 387.00 | 388.00 | 1.00 | 0.40 | | | DUP24-047 | | 411.00 | 411.70 | 0.70 | 0.45 | | | DUP24-048 | | 6.75 | 26.10 | 19.35 | 3.12 | Miroir | | DUP24-048 | inc. | 18.50 | 25.10 | 6.60 | 6.97 | | | DUP24-048 | inc. | 22.10 | 25.10 | 3.00 | 11.26 | | | DUP24-048 | | 68.00 | 69.00 | 1.00 | 1.04 | Dumico | | DUP24-048 | | 81.00 | 82.00 | 1.00 | 1.61 | | | DUP24-048 | | 217.40 | 218.60 | 1.20 | 1.13 | | | DUP24-048 | | 241.00 | 241.50 | 0.50 | 0.61 | Valentre | | DUP24-048 | | 255.30 | 257.70 | 2.40 | 0.41 | | | DUP24-048 | | 269.00 | 270.00 | 1.00 | 0.87 | | | DUP24-048 | | 273.00 | 281.30 | 8.30 | 0.65 | | | DUP24-048 | inc. | 273.00 | 275.00 | 2.00 | 1.77 | | | DUP24-048 | | 289.00 | 290.50 | 1.50 | 0.70 | | | DUP24-048 | | 318.80 | 319.50 | 0.70 | 1.37 | | | DUP24-048 | | 343.70 | 356.00 | 12.30 | 1.75 | | | DUP24-048 | inc. | 346.10 | 354.25 | 8.15 | 2.50 | | | DUP24-048 | inc. | 348.85 | 351.00 | 2.15 | 6.14 | |