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Exploration Firm Generates 'Positive Recovery Tests' at Flagship Gold Project

Streetwise Reports, Streetwise Reports
0 Comments| February 25, 2019

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A ROTH Capital Partners report discussed this and two other asset-related highlights.

Click to enlarge

In a Feb. 20 research note, ROTH Capital Partners analyst Jake Sekelsky reported that interim recovery test results at First Mining Gold Corp.'s (FF:TSX) cornerstone asset, the Springpole gold project, are "encouraging."

Notably, flotation tests yielded recoveries of 90.6% gold and 95.1% silver, which exceed the estimates in the project's existing economic study of 80% and 85%, respectively. These improved recoveries are due to leaching of the flotation tails.

"Given that Springpole is one of the largest undeveloped gold projects in Canada, we believe the ability to increase recovery rates relative to those outlined in the existing preliminary economic assessment could have an outsized impact on the economics of the project," Sekelsky commented. However, further information is needed regarding revised operating costs resulting from the changed flow sheet.

Another advantage First Mining has is the potential of its portfolio of assets, including Pickle Crowe, Cameron and Goldlund, to provide further leverage to the gold price while simultaneously derisking Springpole. These assets encompass a gold resource of 7 million ounces (7 Moz) in the Measured and Indicated category and 5 Moz in the Inferred.

Finally, First Mining could also create value through exploration of one of those very portfolio assets, Goldlund, at which drilling last year returned high-grade results. The 2019 drill program at Goldlund will likely aim to extend mineralization along strike and delineate additional targets across the property.

ROTH has a Buy rating and a CA$1.20 per share price target on First Mining, whose stock is currently trading at CA$0.38 per share.

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of First Mining Gold Corp., a company mentioned in this article.

Disclosures from ROTH Capital Partners, First Mining Gold, Company Note, February 20, 2019

Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.

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