Pickle Crow Project

Pickle Crow Project

Overview:

Location: Close to township of Pickle Lake, Ontario, Canada
Area: 13,184 hectares
Metals: Gold

On November 16, 2015, First Mining Finance Corp. ("First Mining") completed the acquisition of PC Gold Inc., which wholly owned the Pickle Crow Gold Project ("Pickle Crow"). The Pickle Crow property is located in the mining friendly jurisdiction of northwestern Ontario, Canada and the project hosts a NI 43-101 compliant inferred resource of approximately 10.2 Mt grading 3.90 g/t gold containing approximately 1.3 million ounces of gold.

Project Highlights

  • Formerly a high-grade operating mine until the 1960s
  • High-grade underground and open pit resources:
    • Inferred Resource: 10.2 Mt at 3.9 g/t Au containing 1,262,000 ounces of gold
  • Extensive infrastructure in-place or proximal to project including:
    • 200 tonnes per day (tpd) gravity mill onsite
    • Generators and fuel storage
    • Paved road access to property
    • Within 10 km of paved airport at Pickle Lake
  • Project is located within a pro-mining jurisdiction that is covered by the Treaty Three First Nations Agreement

Pickle Crow Mineral Resource Estimate for Gold*

Inferred Resource
Tonnes
Diluted
Au Grade (g/t)
Cut-off
Au Grade (g/t)
Contained
Au (oz.)
Underground
6,522,000
5.4
2.25
1,136,000
Open Pit
3,628,000
1.1
0.35
126,000
Total
10,300,000
3.9
 
1,262,000

Notes:

1. Based on the technical report titled “A Mineral Resource Estimate for the Pickle Crow Property, Patricia Mining Division, Northwestern Ontario, Canada” dated June 2, 2011, which is available at www.sedar.com under PC Gold Inc.’s SEDAR profile.

2. The rounding of tonnes may result in apparent differences between tonnes, grade and contained ounces.

3. The long-hole bulk underground (moderate-grade) component of the mineral resource has been estimated at a cut-off grade of 2.0 g/t Au.

4. The open pit (low-grade) component of the mineral resource has been estimated at a pit discard cut-off grade of approximately 0.35 g/t Au, using a preliminary Whittle pit shell to constrain the resource estimate and other assumed pit parameters.

5. The mineral resource has been estimated using a gold price of US$1,100/oz.

6. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.

 

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