Hop­ing for gold

First Gold Min­ing Corp. ex­plor­ing for gold mine west of Bur­geo at Hope Brook

The Gulf News (Port aux Basques) - - Front page - BY MAR­TINE BLUE mar­tineblue­[email protected]

First Gold Min­ing Corp. ex­plor­ing for gold mine west of Bur­geo at Hope Brook.

The man­age­ment team of a Toronto and Van­cou­ver based min­ing com­pany, First Min­ing Gold Corp. be­lieves the Hope Brook mine, lo­cated 20 kilo­me­ters west of Bur­geo, could be the source of a gold boon for the area.

Derek Iwanaka, the com­pany’s vice-pres­i­dent, says the min­eral prop­erty was a strong draw.

“When the com­pany first started we were ba­si­cally just look­ing for ex­plo­ration as­sets that had good re­sources and had great ex­plo­ration po­ten­tial,” Iwanaka ex­plained. “Hope Brook popped on our radar and be­cause N.L. is quite a mine friendly prov­ince.”

First Min­ing Gold Corp. bought the mine from Coastal Gold in 2015. Iwanaka says a big as­set was that the min­ing in­fra­struc­ture is still in­tact at the site.

“For ex­am­ple, the power lines are still in place, the open pit is still in place — al­though it is flooded — the airstrip, there’s a wharf, some of the road is still in place, tail­ings, so a lot of the in­fra­struc­ture is still stand­ing there, and from my un­der­stand­ing it would be rel­a­tively easy to get per­mit­ted,” he said. “Plus the site (is) pretty well un­der­stood be­cause we know what the past re­cov­er­ies were at the project.”

Coastal Gold pro­duced 752,163 ounces of gold be­tween the years 1987-97. Iwanaka says stud­ies in­di­cate there is still a sig­nif­i­cant amount of gold left to ex­tract there. He says that could trans­late into hun­dreds of jobs.

The com­pany has ap­plied to the De­part­ment of En­vi­ron­ment to build a 58-kilo­me­tre road from the Bur­geo High­way to the Hope Brook site.

“You would have con­struc­tion em­ploy­ees for the road, for the in­fra­struc­ture, the ac­tual plant,” he es­ti­mated.

Iwanaka stresses that plans for the project are still in the very early stage.

“If ev­ery­thing went well, per­mit­ting would take at least a year, con­struc­tion at least a year, and we’d have to get fund­ing,” he said. “We would have to get the pre­lim­i­nary eco­nomic as­sess­ment, the pre- fea­si­bil­ity and the fea­si­bil­ity stud­ies done.”

“That would take us into at least three years if ev­ery­thing went smoothly to get us into pro­duc­tion,” Iwanaka con­tin­ued. “That’s a re­ally rough es­ti­mate based on where we are at to­day. That could be ac­cel­er­ated or de­cel­er­ated, based on how the stud­ies look.”

SUB­MIT­TED

Hope Brook Gold Min­ing prop­erty.

Derek Iwanaka, First Min­ing Gold Corp.’s vice-pres­i­dent, in­vestor re­la­tions.

Hope Brook Gold Min­ing prop­erty.

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