The Property is comprised of 94 mining cell claims covering approximately 1,880 hectares land in Ball and Todd townships
First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce that it has entered into an option agreement to acquire a gold exploration property located in the Red Lake Mining District, Northwestern Ontario, Canada. The Property is comprised of 94 mining cell claims covering approximately 1,880 hectares land in Ball and Todd townships. Geologically, the area is underlain by the Red Lake greenstone belt of Ontario, an accumulation of Archean-age metavolcanic, metasedimentary, and intrusive rocks comprising a portion of the Uchi Sub-province of the Superior Province of the Canadian Shield.
About the Red Lake Gold Mining Camp
The Property is located in the prolific Red Lake gold mining camp which is one of the largest gold camps in North America with a 457 square kilometres land package famous for its high grade gold deposits with historical production exceeding 30 million ounces of gold, mostly from the iconic Campbell and Red Lake gold mines and ten smaller mines.
According to 2020 Ontario Geological Survey (OGS) Red Lake Resident Geologists report, advanced exploration and development work was performed on the following 5 major exploration projects in the Red Lake District and continued throughout 2019: 1) Newmont Goldcorp Cochenour project; 2) First Mining Gold Springpole gold project, 3) Pure Gold Mining Madsen gold project; 4) Rubicon Minerals Phoenix project; and 5) Frontier Lithium PAK rare element (also referred to as “rare metals”) project. Other than this, over 40 active exploration permits have been issued for this area by the Ontario Ministry of Northern Development and Mines.
Source: Company Press Release