FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) shares have been down over 30% in a three-month period recently, but the company’s recent developments could potentially cause the stock to rebound. Before we get into the recent news, let’s take a look at First Mining Finance Corp and what it does.
First Mining Finance Corp is a mineral property holding company that is primarily engaged in the acquisition of high quality mineral assets with a focus in the Americas. First Mining Finance Corp currently holds a portfolio of 25 mineral assets in Canada, Mexico and the United States with a focus on gold. The company’s ultimate goal is to continue to grow its portfolio of mineral assets through acquisitions that are expected to be comprised of gold, silver, copper, lead, zinc and nickel.
Now, you should have an idea of what FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) does. Let’s move onto the company’s recent news. First Mining Finance recently released its second set of testing results from its 106 hole, 28,500 metre diamond drill infill program on its 100% owned Goldlund Gold Project, which is located near the town of Sioux Lookout in northwestern Ontario, Canada.
- Hole GL-17-084 intersected 34.0 metres of 4.30 grams per tonne gold
- Including 2.0 metres of 48.72 grams per tonne gold
- Hole GL-17-105 intersected 10 metres of 1.90 grams per tonne gold
- Including 2.0 metres of 9.14 grams per tonne gold
- Hole GL-17-071 intersected 45.2 metres of 0.97 grams per tonne gold
- Including 30 metres of 1.26 grams per tonne gold
The company’s 2017 drilling campaign at Goldlund is to aimed at upgrading Inferred resources into the Measured and Indicated categories with the majority of the drilling focused on Zone 7 and Zone 1. This drilling program is currently comprised of a total of 28,500 metres within 106 drill holes using HQ sized (63.5 mm) core. Thus far, 76% of the planned drill holes have been completed and the Company is awaiting additional drilling assay results.
When commenting on the results, Patrick Donnelly, President of First Mining Finance Corp stated, “I’m very pleased with the second set of drilling results in that 10 of the 11 holes intersected significant gold mineralization. With this second set of drilling results, we have now received assay results on 23 drill holes of which 22 intersected gold mineralization. Based on these results, we are becoming very optimistic that the Goldlund Project could become one of our flagship gold assets.”
Additionally, accord to Keith Neumeyer, the Chairman of First Mining, “The Company is now focusing on generating internal organic value for our shareholders with a 2017 exploration program with almost 50,000 metres of drilling planned across our main projects. During the coming weeks and months, we expect to continue to generate a steady flow of news regarding our portfolio of high quality assets.”
Prior to this, the company released initial assay results from its Goldlund Infill Drilling Program. Donnelly stated, “We are extremely pleased with the first assay results from Goldund in which 12 out of 12 drill holes contain significant intercepts of gold mineralization, including a number of high grade intercepts. We expect that additional results from Goldlund will continue to increase our confidence in the resource. The current drilling program is 60% complete and we expect to complete the program in early summer. Once the drilling campaign is completed, the results will be compiled in order to make plans for a much larger drill campaign which will be announced once definitive plans are completed.”
With the results of the company’s testing of its Goldlund Infill Drilling program out, First Mining Financial Corp is optimistic on this project, and it could be a key driver of the company’s revenues. Now, you might not want to miss any potential updates in FFMGF because one catalyst could send shares higher. That in mind, you might want to subscribe to our free newsletter by entering your email address in the box below. Thereafter, we would send you updates, if any, on FFMGF.
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in FFMGF stock, short or long.