First Mining Gold Corp 6-K, filed Mar 31, 2020
First Mining Gold Corp. (FFMGF)
6-K
2020-03-31
For: 2020-03-31
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About this 6-K
First Mining Gold Corp filed this 6-K on March 31, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN
PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of
March 2020
Commission File Number: 000-55607
First Mining Gold
Corp.
(Translation of registrant's name into English)
(Translation of registrant's name into English)
Suite
2070, 1188 West Georgia Street, Vancouver, B.C., V6E
4A2
(Address of principal executive office)
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form
40-F.
Form 20-F [ ]
Form 40-F [ X ]
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(1): [ ]
SUBMITTED
HEREWITH
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Exhibits
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Press Release dated March 31,
2020
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SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized.
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First Mining Gold
Corp.
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(Registrant)
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Date: March 31, 2020
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/s/ Samir
Patel
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Samir Patel
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General Counsel and Corporate
Secretary
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TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
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NEWS RELEASE
First Mining Provides Update on its Springpole Gold Project
Activities
March 31, 2020 – Vancouver, BC – First Mining Gold
Corp. (“First Mining” or the
“Company”) (TSX: FF) (OTCQX: FFMGF) (FRANKFURT:
FMG) is pleased to provide an update on the advancements being made
at the Company’s Springpole Gold Project
(“Springpole” or the “Project”) located in
northwestern Ontario. First Mining is currently focused on
advancing a Pre-Feasibility Study (“PFS”) on the
Project as well as progressing the permitting process.
Pre-Feasibility Update
As
noted in First Mining’s news release from January 15, 2020, a PFS on the Project is
underway. This includes metallurgical and geotechnical drilling, as
well as further hydrogeological studies. The Project is generally
accessible by air only, except during the winter months where
access is also possible via a winter ice road. The company
contracted a winter ice road earlier this year to support the PFS
winter drilling and metallurgical programs. This has allowed for
re-supply of the camp, including diesel for drilling, at a
significantly reduced cost when compared to flying necessities into
camp. First Mining anticipates that the road will be accessible
until early April, before the warmer temperatures and spring
ice-break commences.
A
detailed, two-phase, metallurgical program has been scoped and is
underway. The ‘Phase 1’ testwork program utilized
material from the 2016 metallurgical drill program, with testing
underway at the SGS laboratory in Lakefield, Ontario. A second
‘Phase 2’ test work program is being completed using
additional core material obtained from three new metallurgical
holes drilled in early 2020. The main objective of the program is
to optimize flotation and cyanide leaching conditions and provide
design criteria for the PFS.
Drills
were mobilized to the Project in early February. In addition to the
three metallurgical drill holes completed, additional holes have
been strategically located to support both hydrogeology and
geotechnical assessment. This combined geotechnical-hydrogeological
drill program, which has already commenced and is anticipated to be
completed later this year, will consist of 10 holes in the proposed
pit wall and coffer dam areas. The results of this drilling will
help guide how the ground water moves within the region and provide
a better sense of the pit slope stability, which in turn may help
improve strip ratio estimates. A further 14 geotechnical drill
holes, in addition to a number of test pits, are also planned as
part of the PFS on-site work to test the proposed plant site,
tailings and waste storage areas.
Trade-off
studies have also been initiated as part of the PFS work program.
These studies focus on the tailings storage facility, mine plan
optimization, process recovery validation and optimization, power
supply and other required infrastructure. These desktop studies aim
to uncover potential areas for value optimization and
improvement.
Ken
Engquist, COO of First Mining, stated “We are excited with
the progress we are making in advancing the PFS work program at
Springpole. We believe there are many areas for improvement on the
existing 2019 PEA economics as we de-risk the Project technically.
Springpole is a unique project given its size and scale, and an
asset with a meaningful production profile once built. We are
excited to unlock this potential by moving the Project closer to a
construction decision.”
In
response to the ongoing concerns surrounding COVID-19 and in order
to ensure the health and safety of all its employees at Springpole,
First Mining announced on March 24,
2020 the early demobilization of contractors on-site at
Springpole and a reduction in staffing to care and maintenance
levels. Apart from the field data collection, most of the remaining
PFS work will be completed remotely, and as such First Mining does
not anticipate any significant delays in completing the PFS.
However, given the need to complete additional on-site work in
support of the PFS at a later date, and the evolving global
environment in respect of COVID-19, First Mining anticipates that
the PFS results will now be released in early 2021.
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Permitting Update
Consultations
are ongoing with the Indigenous communities in support of the
advancement of permitting of the Project. In the provincial
Environmental Assessment (“EA”) process, there are two
main stages: development of the Terms of Reference
(“ToR”) and development of the EA report.
The ToR
is a work plan which will outline how the EA will be prepared, with
the ToR document detailing the community consultation and
engagement plans (for the Indigenous communities, government and
other stakeholders), baseline studies, key components of the
project and a range of alternatives that will be considered. First
Mining submitted a revised draft ToR for review to the Ministry of
Environment, Conservation and Parks (“MECP”) on
February 20, 2020, with MECP requesting a 45-day review period.
Simultaneously, First Mining also submitted a revised draft to the
Indigenous communities, provincial and federal government agencies,
and various municipal governments near the Project. First Mining is
working towards submission of the final ToR in April 2020, with
receipt of the final approved ToR expected by the end of Q2
2020.
First
Mining has also been collecting baseline data and undertaking
consultation meetings to advance the federal and provincial EA
processes. In 2019, First Mining completed a data gap assessment on
the environmental baseline work to identify any remaining work
requirements for the Project. Data collection programs as part of
this assessment to further advance the EA process included
terrestrial studies (species at risk, a fish and fish habitat
study), surface water quality monitoring, geotechnical studies,
traditional and ecological knowledge studies, hydrogeology,
groundwater well pumping tests, and tailings and mine rock
geochemical characterization.
First
Mining elected to continue to stay in the Canadian Environmental
Assessment Act, 2012 permitting process and not the newly enacted
Impact Assessment Act process (“IAA”). First Mining is
working on the Environmental Impact Statement (“EIS”)
as per EIS Guidelines that were issued to the Company on June 19,
2018.
The
balance of the environmental program for the year involves
continued baseline studies (described above), with a goal of
collecting all of the data required under the ToR for compilation
of an EIS by the end of the year, and submission of the EIS in
2021. While First Mining does not currently foresee any significant
delays to this process, the Company acknowledges the potential for
consultation timeframes to be impacted by the important
prioritization of the health and safety of the Indigenous
communities that First Mining is in consultation with.
Despite
these uncertainties, First Mining is well financed to continue
moving the Springpole project forward in 2020, having closed an
$8.5 million equity financing on March
6, 2020.
Filing of Company’s Year-End Filings
First
Mining has filed on SEDAR its audited financial statements,
management's discussion and analysis and annual information form
for the financial year ended December 31, 2019.
In
addition, concurrently with the annual Canadian filings set out
above, the Company has filed its annual report on Form 40-F with
the U.S. Securities and Exchange Commission ("SEC"). The Form 40-F
incorporates by reference the above annual Canadian filings of
First Mining, and is available on the SEC's website, EDGAR, at
www.sec.gov/edgar.shtml.
All the
above noted filings are also available on First Mining's website at
www.firstmininggold.com,
and printed copies of the filings are available free of charge to
First Mining shareholders upon written request.
Qualified Person
Hazel
Mullin, P.Geo., Director, Data Management and Technical Services of
First Mining, is a “Qualified Person” for the purposes
of NI 43-101, and she has reviewed and approved the scientific and
technical disclosure contained in this news release.
About First Mining Gold Corp.
First
Mining Gold Corp. is a Canadian-focused gold exploration and
development company advancing a large resource base of 7.4 million
ounces of gold in the Measured and Indicated categories and 3.8
million ounces of gold in the Inferred category. First
Mining’s primary focus is the development and permitting of
its Springpole Gold Project and the advanced exploration of its
Goldlund Gold Project, both located in northwestern Ontario.
Springpole is one of the largest undeveloped gold assets in Canada,
with permitting and a Pre-Feasibility Study underway. Goldlund is
an advanced exploration stage asset where drilling in 2020 is
planned to define both the extension of the existing resource area
and to better define the regional scale potential. First
Mining’s eastern Canadian property portfolio also includes
Cameron, Pickle Crow, Hope Brook, Duparquet, Duquesne, and
Pitt.
First
Mining was created in 2015 by Mr. Keith Neumeyer, founding
President and CEO of First Majestic Silver Corp.
ON BEHALF OF FIRST MINING GOLD CORP.
Daniel
W. Wilton
Chief Executive Officer and Director
For further information, please contact:
Mal
Karwowska |
Vice President, Corporate Development & Investor
Relations
Direct:
604.639.8824 | Toll Free:
1.844.306.8827 | Email:
info@firstmininggold.com
www.firstmininggold.com
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Cautionary
Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking
information” and "forward-looking statements”
(collectively "forward-looking statements”) within the
meaning of applicable Canadian and United States securities
legislation including the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
made as of the date of this news release. Forward-looking
statements are frequently, but not always, identified by words such
as "expects”, "anticipates”, "believes”,
“plans”, “projects”, "intends”,
"estimates”, “envisages”, "potential”,
"possible”, “strategy”, “goals”,
“objectives”, or variations thereof or stating that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions.
Forward-looking statements in this news release relate to future
events or future performance and reflect current estimates,
predictions, expectations or beliefs regarding future events and
include, but are not limited to, statements with respect to: (i)
the PFS for Springpole being completed by early 2021; (ii) the
winter ice road at the Project being accessible until the end of
March; (iii) the Company’s plans to complete a 10-hole
geotechnical-hydrogeological drill program at the Project by summer
2020 (iv) the Company’s expectations that the results of the
geotechnical-hydrogeological drill program at the Project will help
guide how the ground water moves within the region and provide a
better sense of the pit slope stability; (v) the Company’s
plans to drill a further 14 geotechnical drill holes at the
Project, in addition to a number of test pits, to test the proposed
plant site, tailings and waste storage areas; (vi) the timing and
expected results of trade-off studies at the Project as part of the
PFS; (vii) the Company’s belief that there are many areas for
improvement on the existing economics of the Project; (viii) most
of the remaining PFS-related work being completed remotely: (ix)
the timing for completing and submitting the final ToR; (x) receipt
of approval of the final ToR in Q2 2020; (xi)
the Company’s primary focus on developing and permitting
Springpole and the advanced exploration of its Goldlund Gold
Project; and (xii) realizing the value of the Company’s gold
projects for the Company’s shareholders. All forward-looking
statements are based on First Mining's or its consultants' current
beliefs as well as various assumptions made by them and information
currently available to them. There can be no assurance that such
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. Forward-looking statements reflect the beliefs,
opinions and projections on the date the statements are made and
are based upon a number of assumptions and estimates that, while
considered reasonable by the respective parties, are inherently
subject to significant business, economic, competitive, political
and social uncertainties and contingencies. Many factors, both
known and unknown, could cause actual results, performance or
achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied
by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation the
Company’s business, operations and financial condition
potentially being materially adversely affected by the outbreak of
epidemics, pandemics or other health crises, such as COVID-19, and
by reactions by government and private actors to such outbreaks;
risks to employee health and safety as a result of the outbreak of
epidemics, pandemics or other health crises, such as COVID-19, that
may result in a slowdown or temporary suspension of operations at
some or all of the Company's mineral properties as well as its head
office; fluctuations in the
spot and forward price of gold, silver, base metals or certain
other commodities; fluctuations in the currency markets (such as
the Canadian dollar versus the U.S. dollar); changes in national
and local government, legislation, taxation, controls, regulations
and political or economic developments; risks and hazards
associated with the business of mineral exploration, development
and mining (including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins and
flooding); the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and
claims by local communities, indigenous populations and other
stakeholders; availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral
exploration and development; title to properties.; and the
additional risks described in the Company’s Annual
Information Form for the year ended December 31, 2019 filed with
the Canadian securities regulatory authorities under the
Company’s SEDAR profile at www.sedar.com, and in the
Company’s Annual Report on Form 40-F filed with the SEC on
EDGAR.
First Mining cautions that the foregoing list of factors that may
affect future results is not exhaustive. When relying on our
forward-looking statements to make decisions with respect to First
Mining, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
First Mining does not undertake to update any forward-looking
statement, whether written or oral, that may be made from time to
time by the Company or on our behalf, except as required by
law.
Cautionary Note to United States Investors
This news release has been prepared in accordance with the
requirements of the securities laws in effect in Canada, which
differ from the requirements of U.S. securities laws. Unless
otherwise indicated, all resource and reserve estimates included in
this news release have been prepared in accordance with NI 43-101
and the Canadian Institute of Mining, Metallurgy, and Petroleum
2014 Definition Standards on Mineral Resources and Mineral
Reserves. NI 43-101 is a rule developed by the Canadian Securities
Administrators which establishes standards for all public
disclosure an issuer makes of scientific and technical information
concerning mineral projects. Canadian standards, including NI
43-101, differ significantly from the requirements of the SEC, and
mineral resource and reserve information contained herein may not
be comparable to similar information disclosed by U.S. companies.
In particular, and without limiting the generality of the
foregoing, the term "resource” does not equate to the term
"reserves”. Under U.S. standards, mineralization may not be
classified as a "reserve” unless the determination has been
made that the mineralization could be economically and legally
produced or extracted at the time the reserve determination is
made. The SEC's disclosure standards normally do not permit the
inclusion of information concerning "measured mineral
resources”, "indicated mineral resources” or "inferred
mineral resources” or other descriptions of the amount of
mineralization in mineral deposits that do not constitute
"reserves” by U.S. standards in documents filed with the SEC.
Investors are cautioned not to assume that any part or all of
mineral deposits in these categories will ever be converted into
reserves. U.S. investors should also understand that "inferred
mineral resources” have a great amount of uncertainty as to
their existence and great uncertainty as to their economic and
legal feasibility. It cannot be assumed that all or any part of an
"inferred mineral resource” will ever be upgraded to a higher
category. Under Canadian rules, estimated "inferred mineral
resources” may not form the basis of feasibility or
pre-feasibility studies except in rare cases. Investors are
cautioned not to assume that all or any part of an "inferred
mineral resource” exists or is economically or legally
mineable. Disclosure of "contained ounces” in a resource is
permitted disclosure under Canadian regulations; however, the SEC
normally only permits issuers to report mineralization that does
not constitute "reserves” by SEC standards as in-place
tonnage and grade without reference to unit measures. The
requirements of NI 43-101 for identification of "reserves”
are also not the same as those of the SEC, and reserves reported by
the Company in compliance with NI 43-101 may not qualify as
"reserves” under SEC standards. Accordingly, information
concerning mineral deposits set forth herein may not be comparable
with information made public by companies that report in accordance
with U.S. standards.
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