“We are starting with a good hand in this deal” – First Mining Gold announces Duparquet deal

(Kitco News) – First Mining Gold’s Duparquet deal gives the company two projects with multi-million ounce gold resources, company CEO Dan Wilton said.

On Monday, Wilton spoke with Kitco Mining.

First Mining Gold (TSX:FF) is advancing projects in Eastern Canada. Its flagship asset is its Springpole project in Ontario. The company considers it to be one of the largest undeveloped open pit gold deposits in Canada.

Last week, the company announced its intention to acquire Beattie Gold Mines and its Duparquet gold project, which once had two operating mines.

“In addition to our ownership of the Pitt and Duquesne projects in Quebec located just east of Duparquet, First Mining will now have 100% ownership exposure to 3.3 million ounces of M&I gold and 2.0 million of alleged ounces of gold located in Abitibi, home to some of the largest and richest mineral deposits in the world,” Wilton said in a press release touting the deal. “The addition of Duparquet allows First Mining to own 100% of two projects with multi-million ounce gold resources in what we consider to be the best mining jurisdictions in the world.”

In the 1930s, Wilton declared Duparquet to be the location of the largest gold mines in Quebec. After the mines closed, work was continued on the site by other exploration companies.

“People don’t appreciate the amount of work that’s been done on this project…260,000 meters of drilling, a full metallurgical program, basic environmental studies, things that normally cost you millions and millions of dollars and that take years to make. We’re starting with a big hand in this project,” Wilton said.

Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. This is not a solicitation to trade commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for loss and/or damage resulting from the use of this publication.

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