Name of the Project
Springpole gold project.

Location
North-western Ontario, in Canada.

Project Owner/s
Gold developer First Mining Gold.

Project Description
The Springpole project is one of the biggest undeveloped openpit gold projects in North America. The project has proven and probable reserves of 3.8-million ounces of gold and 20.5-million ounces of silver.

A prefeasibility study (PFS) has supported the construction of a 30 000 t/d openpit mining operation over an 11.3-year life-of-mine (LoM).

The mine will be developed in phases within the ultimate pit, with a maximum depth of about 350 m.

The deposit is planned to produce 121.6-million tonnes of plant process feed and 287.5-million tonnes of waste (2.36:1 overall strip ratio) over the LoM.

The operation will include a process plant that will, in turn, include crushing, grinding and flotation, with fine grinding of the flotation concentrate and agitated leaching of the flotation concentrate and tails. This will be followed by a carbon-in-pulp recovery process to produce doré bars. The processing plant also features a filtered tailings plant.

Average yearly payable gold production is estimated at 335 000 oz in years 1 to 9 and 287 000 oz over the LoM.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $1.5-billion and an internal rate of return of 36%, with an after-tax payback of 2.4 years.

Capital Expenditure
Initial capital costs are estimated at $718-million.

Planned Start/End Date
Not stated.

Latest Developments
The project has received a positive conformity determination from the Impact Assessment Agency of Canada (IAAC).

This follows the submission of the final environmental-impact statement (EIS) on November 4.

The conformity determination confirms that the work completed by First Mining meets the federal EIS guidelines set out by the IAAC, affirming that the company has complied with the necessary regulatory requirements. The determination paves the way for the next phase of the project’s regulatory review, as the technical review period for the final EIS continues without delay.

The project now enters the technical review phase, during which First Mining will work closely with all stakeholders to address any questions or comments. The review process is expected to conclude by the fourth quarter of 2025.

Key Contracts, Suppliers and Consultants
AGP Mining Consultants Inc (PFS).

Contact Details for Project Information
First Mining Gold, email info@firstmininggold.com.