- First Energy Metals Ltd. is focused on developing a multi-commodity mineral property portfolio by identifying, acquiring and exploring North American mineral prospects in the precious metal, base metal and industrial metals sectors
- The company’s current property portfolio features core and non-core properties, including the Augustus Lithium and Titan Gold Properties (core), as well as the Kokanee Creek Gold Property and an option to acquire a 100% interest in the Scramble Mine Property (non-core)
- The global precious metals market is forecast to reach a $362.1 billion valuation by 2027, while the lithium metal market is anticipated to reach $926.6 million that same year
- First Energy Metals’ management team includes individuals with strong backgrounds in the financial management and energy sectors, including roles with prominent oil and gas firms
First Energy Metals (CSE: FE) (OTCQB: FEMFF) is a publicly traded Canadian mineral exploration company. Its primary focus is on developing a multi-commodity mineral property portfolio by identifying, acquiring and exploring North American mineral prospects in the precious metal, base metal and industrial metals sectors.
Headquartered in Vancouver, the company (formerly known as “Agave Silver”) was first incorporated on October 12, 1966.
Core Properties – Augustus Lithium and Titan Gold
Located in Landrienne & Lacorne-Townships, Quebec, Canada, in an active lithium exploration/mining area, the Augustus Lithium Property and surrounding claims total 14,367.71 hectares. It is equipped with excellent infrastructure support, including a road network, railway, electricity, water and trained manpower available locally.
Other highlights of the Augustus Lithium Property include:
- Geologically similar to Sayona Mining’s Authier Lithium project and Mine Quebec Lithium project located 6-12 km away.
- Documented historical drilling over 10,000m in 62 drill holes, worth over $2 million in present day exploration expenditures.
- Two prominent lithium and one silver prospects located on the property.
- A potential high grade lithium resource target of 4 million tonnes at 1% lithium oxide (Li2O).
- Potential for large volume low grade bulk tonnage near surface.
- Two phase exploration work program includes: data compilation, geological mapping, trenching and sampling in Phase 1 (estimated cost $191,418) and diamond drilling, metallurgical testing and resource estimation in Phase 2 (estimated cost $1,166,963).
The Titan Gold Property is located in the Detour-Fenlon Greenstone Belt of east-central Quebec and is comprised of 80 mining claims totaling 4,334 hectares.
Other highlights of the Titan Gold Property include:
- The Detour-Fenlon Greenstone Belt is host to the Detour Mine containing 20 million ounces of gold. The Fenlon Project of Wallbridge Mining has also reported strong high-grade gold intercepts and a successful high-grade (18.49 g/t Au) bulk sample.
- Hosted within a structurally active geological environment with several northwest trending deformation zones which are splays off the Sunday Lake Deformation Zone – all key ingredients to the gold mineralization in the area.
- The property has seen little historical exploration yet sits within what is becoming a prolific recognized gold camp.
Non-Core Properties – Kokanee Creek Gold and Scramble Mine Properties
The Kokanee Creek Gold Property consists of three mineral claims covering approximately 1,590.29 hectares in the Nelson Mining Division in British Columbia.
Other highlights of the Kokanee Creek Gold Property include:
- Gold mineralization indicated in surface samples from historical work since 1979.
- Subsurface gold mineralization discovered in drill holes.
- Continuity of mineralized zones indicated through geological mapping, geochemical and geophysical survey.
- Past producing mines in the vicinity, including the Molly Gibson and the Alpine deposits.
- Historical production reported for the Molly Gibson Mine from 1909-1940 was at an average grade of 36.1 g/t Au and 15.3 g/t silver, with recent exploration returning samples running up to 270 g/t Au.
- Revived exploration on the Alpine deposit area has reported a 2018 inferred resource of 142,000 oz at 16.52 g/t Au using a cut-off grade of 5.0 g/t.
First Energy Metals also holds an option to acquire a 100% interest in the Scramble Mine Gold property, located approximately 8 km east of the town of Kenora in Northwestern Ontario. The mine was discovered in 1894 but remained essentially dormant until 1984, when Boise Cascade Canada Ltd. commenced an evaluation of the property. Since 1984, approximately 5,200 meters of diamond drilling, 250 meters of surface stripping with sampling and 450 meters of underground development have taken place at the property.
Other highlights of the Scramble Mine Property uncovered as part of the company’s 2020 prospecting and sampling programs include:
- Average value of gold in surface samples is 29.34 grams per tonne (1.03 ounces per tonne).
- Gold assays ranged from 5.03 grams per tonne (0.18 oz/t) to 82.30 grams per tonne (2.90 oz/t), with two samples assayed over 2 oz/t.
- All samples assayed over 5 grams per tonne gold.
Market Outlook
The global precious metals market was valued at $193.3 billion in 2020 and is expected to grow at a CAGR of 9%, resulting in a market valuation of $362.1 billion by 2027 (https://ibn.fm/WvN9Z).
The global lithium metal market was valued at $534.6 million in 2020. Through 2027, it is expected to grow at a CAGR of 9.6%, resulting in a forecast valuation of $926.6 million (https://ibn.fm/xBXcx).
First Energy Metals is well positioned to leverage growth opportunities in these expanding sectors through exploration of both its core and non-core properties.
Management Team
Gurminder Sangha is the Chief Executive Officer and Director of First Energy Metals Ltd. He is experienced in the financial industry, focusing on providing advisory-level services to privately and publicly traded companies. Mr. Sangha brings over 18 years of diverse experience related to financial management, business leadership and corporate strategy to his role with First Energy Metals. During his tenure as a board member for various publicly traded companies, he has led initiatives related to corporate finance, business development and corporate governance. Mr. Sangha has an MBA from both Queens University and Cornell University.
Jurgen Wolf is the Chief Financial Officer and Corporate Secretary for First Energy Metals Ltd. He has been involved in the oil and gas industries for over 15 years, assisting public companies with administration and investor relations. Mr. Wolf was educated in Germany and immigrated to Canada in 1953. From 1958 to 1982, he owned and operated pre-cast concrete factories in Calgary and Vancouver. From 1982 to 2002, Mr. Wolf owned and operated J.A. Wolf Projects Ltd., a commercial construction company. He is the previous President and Director of the former US Oil and Gas Resources Inc., which amalgamated to form Petrichor Energy Inc. in 2005. Mr. Wolf retains director roles with several public companies.
For more information, visit the company’s website at www.FirstEnergyMetals.com.
NOTE TO INVESTORS: The latest news and updates relating to FEMFF are available in the company’s newsroom at https://ibn.fm/FEMFF
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