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First Energy Metals Ltd. (OTCQB:ASKDF)

First Energy Metals Ltd. (OTCQB:ASKDF)

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About First Energy Metals Limited:.

First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the precious metal, base metal and industrial metals sector.

-The company's strategy is to:

-Acquire and advance projects through prospecting and early-stage exploration;

-Source joint venture partners to finance future Historical Exploration and project development;

-Create shareholder value through exploration success.

-First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.-Precious Metal Projects:

-Projects:

Titan Gold Project:

TITAN GOLD PROPERTY:

-The Titan Gold Property is located in the Detour-Fenlon Greenstone Belt of east central Quebec.
-The property is comprised of 80 mining claims totaling 4,334 hectares.
-The Titan Gold Property is located in the Detour-Fenlon Greenstone Belt of east central Quebec.
-The property is comprised of 80 mining claims totaling 4,334 hectares.
-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.
-The Titan Gold Property is hosted within a structurally active geological environment hosting 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.

SHAW GOLD PROPERTY:

-The Gold Shaw Property consists of 18 single or multi-cell claims totaling 693 hectares located primarily in Shaw Township, Timmins Gold Camp
-The Timmins Gold Camp has produced more than 70 million ounces of gold from 50 different gold mines over the last 100 years
-The northern group of claims are situated 7km to the southeast of the Newmont Dome Pit (former Dome Mine) and 5km south of the Destor-Porcupine Deformation Zone
-Previous exploration efforts at the Turner Gold Showing include drilling from 1972 returning values up to 12.34 g/t Au over 1.83m in mineralized tuffs reporting to be 12m wide and 300m long.
-Historical exploration efforts at the Bay Lake Gold Showing have returned grabs of 766.2 g/t Au and 229.7 g/t Au. A 12m shaft was sunk circa 1930’s on a 1.37m wide quartz vein which returned composite samples of 150.8, 43.2 and 35.17 g/t Au. Gold was associated with iron formation.
-Several iron formations are located on he claims and make excellent targets for iron formation gold-hosted deposits such as Musselwhite, Pickle Crow and the Beardmore, Ontario mines.
-The property has excellent local access and is located next to the Timmins mining camp.
-Drilling targeted mineralized tuffs and a quartz-veined fuschite carbonate zone
-There were no shoulder samples taken adjacent to these high-grade intersections

SCRAMBLE MINE PROPERTY:

First Energy holds an option to acquire a 100% interest in the Scramble Mine Gold Property, located approximately 8 kms east of the town of Kenora in Northwestern Ontario.
The Scramble Mine gold property is comprised of six mining claims covering approximately 140 hectares land and encompasses a gold mine originally discovered in 1894 .The mine area remained essentially dormant until 1984 when Boise Cascade Canada Ltd. commenced an evaluation of the property and 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.

Energy Metal Projects:

PHYLLIS COBALT PROPERTY:

Located in the Kenora Mining District of Ontario, the property consists of 112 mineral claim units totalling 1792 hectares in Grummett and Cathcart townships. The property boasts year-round access 192km northwest of Thunder Bay, ON via Hwy 17 and 9km south on a gravel forestry road.

Geology:

The Phyllis claim block occupies the central portion of a ENE-WSW trending greenstone belt, consisting of Mesoarchean to Neoarchean age mafic to ultramafic rocks. These are bound by granite of varying composition - ranging from tonalite to biotite-granodiorite (Atikokan-Lakehead Sheet Map 2065) as shown in Figure 1. Recent mapping undertaken by the Ontario Geological Survey (Gulliver River Sheet, Map 3370), which includes a small portion of the Phyllis claims, suggests that there is a greater abundance of ultramafic metavolcanics than previously indicated. The regional foliation follows the general trend of the greenstone belt.

-Mineralization:

The initial cobalt discovery was made in 2010 by Don Dobransky, named the “Phyllis Central” occurrence. This discovery is characterized by an 80m x 60m outcrop and appears as a fairly structureless gabbro, with the exception of an array of narrow quartz veins and veinlets, which have sharp contacts with the country rock and trend roughly NE-SW, and appear to have been intruded relatively recently. The gabbro itself is fine-to medium grained and appears highly altered. The exposed outcrop follows the northern flank of a gentle hill. Earlier excavations focussed in the uppermost parts of the topographic profile. The sampling as seen in Figure 2. This worked confirmed the presence of economic grades of cobalt mineralization up to 0.33% Co (including 1.2% Cu and 0.39% Ni).

KOKANEE CREEK GOLD PROPERTY:

The Kokanee Creek gold property consists of three mineral claims covering approximately 1,590.29 hectares in the nelson mining division in British Columbia. It is located 18 kilometres to the east of Nelson on NTS map 082F055. The property is part of a very active mining area with several historical and current gold, silver and base metal deposits located in the region. Nelson is a historical mining town dating back to the discovery of the Toad Mountain silver deposit in 1886. The Blue Bell mine, located near the town of Riondel approximately 20 kilometres northeast of the Kokanee Creek claims, is a manteau-type base metal deposit hosted by the Badshot limestones of the Lardeau Group. Closer to the Kokanee claims are historical past producers the Molly Gibson and the Alpine.

-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 between 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.
-Pyrite-gold enriched volcanic units and veins extend over 550m on surface and previous drilling extended mineralization to 915 meters of strike length and to a depth of 366 to 475m.
-An historical resource at the Property contained a total of 150,000 tons of mineralized rock at an average grade at 6.8 grams/ton gold using a cutoff grade of 1.42 g/t. First Energy plans to advance the project utilizing trenching, drilling and geophysical surveys. The Company believe that the mineralized envelope extends further from the previous limited drilling and seeks to better define areas of higher-grade gold as previous work reported values of up to 259 grams/ton Au.

Highlights of 2020 Sampling Work

-The Company completed prospecting and sampling programs in 2020 indicating potential of the Property for further -The results of August 2020 sampling work show::-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 (2.90 oz /t) with two samples assayed over 2 oz/t.
-All samples assayed over 5 grams per tonne gold.

Augustus Lithium Property:

The company recently entered into an option agreement to acquire a lithium exploration property located in Landrienne & Lacorne-Townships, Quebec, Canada. The property consists of three non-contiguous claim groups representing a total area of 627.35 hectares located approximately 40 kilometres northwest of the town of Val d'Or on map sheet 32C/05. The geology and the mineralization of the Augustus property are similar to the geology and mineralization of Quebec Lithium mine located approximately 6 kilometers to the southeast of the property. Average value of gold in surface samples is 29.34 grams per tonne (1.03 ounces per tonne).

Augustus Lithium Property Highlights

The Property is a part of the Preissac – Lacorne pegmatite fields where spodumene bearing lithium pegmatites were discovered in 1940s'. It has excellent infrastructure support with road network, railway, electricity, water, and trained manpower available locally.

Geologically the Preissac-Lacorne area lies within a belt of volcanic and sedimentary rocks intruded to the north by LaMotte batholiths and to the south by the Preissac batholiths and Moly Hill pluton.

There are several historical and currently active lithium and molybdenum prospects/mines located approximately 3 km to 20 km from the Property. Some of the important prospects/mines are: Mine Quebec Lithium which was formerly owned by RB Energy, Authier Lithium owned by Sayona Mining of Australia, Valor Lithium, Duval Lithium, Lacorne Lithium, International Lithium, Vallee Lithium, and Moly Hill Mine. All these projects / prospects are at various stages of exploration and development, out of which Mine Quebec Lithium is the most advanced project followed by Authier lithium project. Total lithium resources for this region are over 50 million tonnes at 1% lithium oxide out of which Mine Quebec Lithium has 32 MT at 1.19%Li2O Measured plus Indicated (M+I), Authier has 17.18 million tonnes at 1.01% Li2O (M+I) are the most significant.

There are two prominent lithium prospects prospect (Augustus and Canadian Lithium) and one silver on the property which have been explored intermittently sine 1948. Highlights of the Augustus lithium prospect are discussed below. The Company is in the process of compiling data on the other two prospects and will release as soon as possible.

Augustus Lithium Prospect:

The Augustus pegmatite was explored in 1955 by trenching followed by diamond drilling. The pegmatite is oriented N30°W, extending more than 850 meters along strike with 7.6 meters in average width. Its depth extension is not fully known yet, however previous drilling has intersected high-grade lithium down to 682 feet (207 m). Lithium mineralization is confined to the pegmatite body with an average grade of 1.12% lithium oxide (Li2O) (0.52% Li) across a width of 7.6. meters (Source: Géologie Québec - Results of the query (gouv.qc.ca)).

The highlights of the previous drilling results include:1.69% Li2O over 9 feet (2.74m), 1.25% Li2O over 27.5 feet (8.38m), 1.07% Li2O over 20 feet (6.1m), 1.66% Li2O over 12.5 feet (3.8m), and 1.41% Li2O over 27 feet (8.23m) (see Table 1 below) (Source Report GM03952).

Based on the 1955 drilling results, the continuity of lithium mineralization is established between all drill holes for over 850 meters strike length down to a depth of 207 m (682 feet) of the Augustus pegmatite body. If mineralization continuity can be proven by future drilling down to over 200 meters level as shown in historical drill hole results, a potential resource target of 4 million tonnes at 1% Li2O can be achieved.

Augustus Lithium Property Highlights:

The Property is a part of the Preissac – Lacorne pegmatite fields where spodumene bearing lithium pegmatites were discovered in 1940s'. It has excellent infrastructure support with road network, railway, electricity, water, and trained manpower available locally.

Geologically the Preissac-Lacorne area lies within a belt of volcanic and sedimentary rocks intruded to the north by LaMotte batholiths and to the south by the Preissac batholiths and Moly Hill pluton.

There are several historical and currently active lithium and molybdenum prospects/mines located approximately 3 km to 20 km from the Property. Some of the important prospects/mines are: Mine Quebec Lithium which was formerly owned by RB Energy, Authier Lithium owned by Sayona Mining of Australia, Valor Lithium, Duval Lithium, Lacorne Lithium, International Lithium, Vallee Lithium, and Moly Hill Mine. All these projects / prospects are at various stages of exploration and development, out of which Mine Quebec Lithium is the most advanced project followed by Authier lithium project. Total lithium resources for this region are over 50 million tonnes at 1% lithium oxide out of which Mine Quebec Lithium has 32 MT at 1.19%Li2O Measured plus Indicated (M+I), Authier has 17.18 million tonnes at 1.01% Li2O (M+I) are the most significant.

There are two prominent lithium prospects prospect (Augustus and Canadian Lithium) and one silver on the property which have been explored intermittently sine 1948. Highlights of the Augustus lithium prospect are discussed below. The Company is in the process of compiling data on the other two prospects and will release as soon as possible.

Augustus Lithium Prospect:

The Augustus pegmatite was explored in 1955 by trenching followed by diamond drilling. The pegmatite is oriented N30°W, extending more than 850 meters along strike with 7.6 meters in average width. Its depth extension is not fully known yet, however previous drilling has intersected high-grade lithium down to 682 feet (207 m). Lithium mineralization is confined to the pegmatite body with an average grade of 1.12% lithium oxide (Li2O) (0.52% Li) across a width of 7.6. meters (Source: Géologie Québec - Results of the query (gouv.qc.ca)).

The highlights of the previous drilling results include:1.69% Li2O over 9 feet (2.74m), 1.25% Li2O over 27.5 feet (8.38m), 1.07% Li2O over 20 feet (6.1m), 1.66% Li2O over 12.5 feet (3.8m), and 1.41% Li2O over 27 feet (8.23m) (see Table 1 below) (Source Report GM03952).

Based on the 1955 drilling results, the continuity of lithium mineralization is established between all drill holes for over 850 meters strike length down to a depth of 207 m (682 feet) of the Augustus pegmatite body (see Table 1 below). If mineralization continuity can be proven by future drilling down to over 200 meters level as shown in historical drill hole results, a potential resource target of 4 million tonnes at 1% Li2O can be achieved.


First Energy Metals Ltd. is traded on the OTCQB under the ticker symbol ASKDF . This is not investment advice. Please view the disclaimer found on this website.
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