|By Marketwired .||
|December 1, 2016 07:00 AM EST|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/01/16 -- First Mining Finance Corp. ("First Mining" or the "Company") (TSX VENTURE: FF)(OTCQX: FFMGF) is pleased to provide an update of its current exploration and corporate activities and to provide some guidance for its proposed activities in 2017.
At the Springpole Gold Project in northern Ontario the Company has completed its fall metallurgical drilling program in which four drill holes were completed comprising 1,712 metres. The intent of the metallurgical testing program is to determine the optimal grind size and processing flow sheet so as to maximize metallurgical recoveries. Assay results from the drill holes are expected to be released in early 2017 and the results from the metallurgical testing program are expected to be incorporated into a new Preliminary Economic Assessment ("PEA") for the Springpole project which is expected to be released during the first half of 2017.
Drilling has also been completed at the Pickle Crow Gold Project, also located in northern Ontario, in which nine drill holes were completed comprising 1,319 metres. The intent of this drilling campaign is to test the strike extent of Pickle Crow's Core Mine Trend and the Western Extension of the Core Mine Trend. Samples from the drilling program have been extracted with assay results expected to be available in early 2017.
Recently, the Company's Board of Directors approved a CDN$21 million exploration and development budget for 2017, including 47,000 metres of infill and exploration drill programs to advance the Company's Canadian priority assets.
The salient highlights of the proposed 2017 exploration program are detailed below.
Goldlund Gold Project
An infill and resource expansion program of up to 27,000 metres of drilling is to be carried out at the Goldlund project. The intent of this program is to upgrade the current mineral resource to a higher NI 43-101 category. The Company further intends to use the new resource estimate for the preparation of a PEA, the timing of which is to be determined at a later date. Drilling is expected to commence in the middle of the first quarter of 2017 and is expected to be mostly focused on Zone Seven, which hosts a significant portion of the mineralized material at the project.
Cameron Gold Project
An infill drilling program of up to 9,000 metres is to be carried out at the Cameron project in northern Ontario. The intent of this drilling program is to upgrade the current NI 43-101 Inferred Mineral Resource into the Measured and Indicated categories and to prepare the project for a PEA. Drilling is expected to commence during the summer of 2017.
Springpole Gold Project
An additional 6,000 metres of infill drilling is planned for the Springpole project during the summer of 2017. The program is expected to upgrade a substantial portion of the current NI 43-101 Inferred Mineral Resource into the Indicated category. In addition, the intent of this program is to prepare the Springpole project for a pre-feasibility study. In addition, environmental and baseline work intended to be used for the permitting process will soon commence at this project.
Hope Brook Gold Project
A 5,000 metre infill and exploration drilling program is to be carried out at the Hope Brook project in Newfoundland. The intent of this drilling program is to expand the current NI 43-101 complaint resources and to upgrade a majority of the Inferred Resource into the Measured and Indicated categories. The goal of the drilling campaign is to prepare Hope Brook for a PEA in late 2017.
Additional work is also to be carried out at the Company's other Canadian, U.S. and Mexican mineral assets which will be announced throughout 2017 as events unfold.
Keith Neumeyer, Chairman of First Mining stated, "Over a period of just over one year we have assembled one of the best portfolios of gold assets in the world. That being said we believe that there is tremendous organic value that can be unlocked by investing in our portfolio of assets. Given our robust treasury of approximately CDN$35 million we are confident the time is right to advance and de-risk our assets. In conclusion I believe that, given our new aggressive exploration strategy, 2017 could prove to be another transformational year for the Company."
The option agreement between First Mining and Exploraciones Mineras Penoles, S.A. de C.V. (an indirect Mexican subsidiary of Industrias Penoles S.A.B. de C.V. (Penoles, BMV: PE)), which was previously announced on November 20, 2015 and which granted Penoles an option to acquire First Mining's Puertecitos and Los Tamales copper properties in northern Sonora, Mexico, has been mutually terminated.
ABOUT FIRST MINING FINANCE CORP.
First Mining is a mineral property holding company whose principal business activity is to acquire high quality mineral assets with a focus in the Americas. The Company currently holds a portfolio of 25 mineral assets in Canada, Mexico and the United States with a focus on gold. Ultimately, the goal is to continue to increase its portfolio of mineral assets through acquisitions that are expected to be comprised of gold, silver, copper, lead, zinc and nickel.
ON BEHALF OF FIRST MINING FINANCE CORP.
Keith Neumeyer, Chairman
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements"(collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "plans", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things: the timing of disclosure by the Company of assay results, the timing and success of future drilling at the Company's Goldlund, Cameron, Springpole and Hope Brook projects, the total meterage planned to be drilled at any of such projects, the timing of a PEA with respect to any such projects, the timing of environmental and baseline work at the Springpole Gold project, the commencement of a pre-feasibility study for the Springpole Gold project, the upgrade of Inferred Mineral Resources to the Measured and Indicated categories at any of the Company's mineral projects and the expansion of resources at any of the Company's mineral projects. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, management's discretion to refocus its exploration efforts. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, First Mining does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vice President, Investor Relations
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Mar. 30, 2017 04:45 AM EDT Reads: 3,309
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
Mar. 30, 2017 04:45 AM EDT Reads: 390
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Mar. 30, 2017 04:45 AM EDT Reads: 3,326
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Mar. 30, 2017 04:15 AM EDT Reads: 946
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Mar. 30, 2017 04:15 AM EDT Reads: 2,246
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service.
Mar. 30, 2017 04:00 AM EDT Reads: 3,191
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Mar. 30, 2017 03:45 AM EDT Reads: 3,448
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Mar. 30, 2017 02:15 AM EDT Reads: 4,104
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Mar. 30, 2017 01:30 AM EDT Reads: 2,624
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 30, 2017 01:15 AM EDT Reads: 1,229
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Mar. 30, 2017 01:00 AM EDT Reads: 8,316
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to max...
Mar. 30, 2017 12:45 AM EDT Reads: 704
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 30, 2017 12:30 AM EDT Reads: 1,538
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
Mar. 30, 2017 12:15 AM EDT Reads: 3,596
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
Mar. 29, 2017 11:45 PM EDT Reads: 3,304