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
Mishkeegogamang First Nation and First Mining Gold have signed a long-term relationship agreement (LTRA) covering the Springpole gold project.

The people of Mishkeegogamang Ojibway Nation live in north-western Ontario, around the area where the Albany river meets Lake St Joseph. Just more than 900 people live on its two reserves, while about 500 live off of the reserve, either on Crown Land or in other communities.

The agreement sets out a collaborative approach for the development of one of Canada's largest gold resources, through construction, operations and closure, in a manner that respects the environment and provides direct benefits for the First Nation.

"This agreement is the result of a five-year process of technical review, traditional knowledge study and relationship building with First Mining,” Mishkeegogamang First Nation chief Merle Loon has said.

Following a process agreement signed in 2021 between Mishkeegogamang and First Mining, the LTRA was negotiated along with a community-based consultation process to ensure that the interests and concerns of the First Nation were taken into account. 

The LTRA includes provisions for Mishkeegogamang to take part in the project's environmental management and monitoring, the implementation of adaptive management, preferential training and employability measures and equity. It also makes provisions for the participation in the economic upside of the project, the promotion of business opportunities during the mine's construction and operations, as well as the recognition of Anishnaabe culture and the inclusion of cultural safety measures. The LTRA also sets out the sharing of financial benefits from the Springpole project.

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

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