TSX-listed First Mining has entered into an agreement to earn into ALX Resources’ properties near the Springold gold project, in north-western Ontario.
Through its subsidiary Gold Canyon Resources, First Mining may earn up to 100% interest in ALX’s Vixen North, Vixen South and Vixen West properties. These properties comprise of 521 single cell mining claims covering 10 600 ha.
In addition to entering into the earn-in agreement with ALX to earn into the Vixen properties, First Mining has acquired additional claims covering about 6 000 ha within the Birch-Uchi Greenstone Belt, including the acquisition of the past-producing, high-grade Sol d'Or mine located adjacent to the Swain Lake property, on which First Mining has a three-year option agreement with Whitefish Exploration.
With the addition of the Vixen properties and the new claims, First Mining now controls more than 66 000 ha in the Birch-Uchi Greenstone Belt and is the biggest single claim holder in the region.
"First Mining's recent land tenure consolidation in the Birch-Uchi Greenstone Belt is another major development for our company and the region," stated CEO Dan Wilton.
"Since the beginning of the year, First Mining has significantly increased its land package around Springpole and believe the Birch-Uchi is the one of the most under-explored and highly prospective gold belts in Canada, with district-scale potential. The region hosts several past-producing mines including our newly acquired Sol d'Or mine where there has been demonstrated historical, high-grade exploration potential.”
First Mining intends to undertake a comprehensive regional exploration programme over the next 12 months for the first time since its acquisition of Springpole in 2015 and will be incorporating these newly acquired and optioned claims into the programme.
“First Mining remains focused on advancing and permitting our flagship Springpole gold project which hosts the largest known gold deposit in the district and will be a critical strategic asset if more gold resources are found in the region."