Project Update:
In February 2026, FireFly Metals Ltd agreed to sell its 70% interest in PC Gold Inc. (“PC Gold”), the entity that holds the Pickle Crow Gold Project, to Bellavista Resources Limited (ASX:BVR) (“Bellavista”). Bellavista completed the acquisition in April 2026 and exercised the project buy-down right from First Mining and now own 80% of PC Gold. First Mining currently owns 20% of PC Gold and is free carried to a decision to mine.
Project Overview:
First Mining holds a 20% interest in the Pickle Crow Gold Project in northwestern Ontario, which is being advanced in partnership with Bellavista Resources Limited.
The Project is located approximately 400 km north of Thunder Bay and 11 km east of the town of Pickle Lake. There is year-round, paved road access to the project, and grid power less than 5 km away. The property covers approximately 50,000 hectares of mineral tenure within a major gold province. It hosts an NI 43-101 Inferred Mineral Resource of 9.4 Mt grading 4.1 g/t gold, containing 1.23 million ounces of gold.
The Pickle Crow gold deposit is a high-grade, shear-hosted, mesothermal Archean lode gold deposit. The deposit occurs primarily within mafic volcanics and banded iron formation (BIF) units in the Pickle Crow assemblage of the Pickle Lake Greenstone belt located in the Uchi Lake Sub-province of the Superior Craton of the Canadian Shield.
Mineralization is focused around steeply north-west dipping, regional scale shear zones. Multiple mineralization styles have been identified on the property, including quartz-gold-tungsten (+/-tourmaline) shear veins and banded iron formation mineralization (BIF-style).
The Pickle Crow Mine is one of Canada’s highest-grade historical gold mines. It operated from 1935 until 1966, during which time it reportedly produced around 1.5 million ounces of gold at an average grade of 16.14 g/t.
Project Highlights:
- Long history of producing high-grade gold - former operating mine from 1930s to 1960s
- Located in a stable Tier 1 mining jurisdiction in a prolific mineral belt
High-grade underground and open pit resources:
- Inferred Resource: 9.5 Mt at 4.1 g/t Au containing 1,230,500 ounces of gold
Extensive infrastructure in-place or proximal to project including:
- 200 tonnes per day (tpd) gravity mill onsite
- Year round access
- Paved road access to property
- Within 10 km of paved airport at Pickle Lake
Pickle Crow Mineral Resources
| Inferred Resource | Tonnes | Au Grade (g/t) | Cut-off Au Grade (g/t) |
Contained Au (oz) |
|---|---|---|---|---|
| Underground | 7,565,000 | 4.7 | 2.00/ 2.60* | 1,150,700 |
| Open Pit | 1,877,000 | 1.3 | 0.50 | 79,800 |
| Total | 9,452,000 | 4.1 | 1,230,500 |
Notes
* Cut-off grade for bulk underground resource is 2.00 g/t Au; cut-off grade for underground vein resource is 2.60 g/t Au
- First Mining owns 20% of the Pickle Crow Gold Project, and 80% is owned by Bellavista.
- Based on the technical report titled “An Updated Mineral Resource Estimate for the Pickle Crow Property, Patricia Mining Division, Northwestern Ontario, Canada” dated June 15, 2018 and available at www.sedar.com under First Mining Gold.’s SEDAR profile.
- Diluted to a minimum 1.0 metre width.
- The mineral resource estimate is entirely classified as an inferred mineral resource.
- Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is currently insufficient exploration to define these Inferred mineral resources as Indicated or Measured mineral resources.
- High-grade assays have been capped. Each domain was capped with respect to their unique geology and statistics
- The narrow-vein, selective underground component of the mineral resource has been estimated at a cut-off grade of 2.6 g/t Au.
- The long-hole bulk underground (moderate-grade) component of the mineral resource has been estimated at a cut-off grade of 2.0 g/t Au.
- The open pit (low-grade) component of the mineral resource has been estimated at a pit discard cut-off grade of approximately 0.5 g/t Au, using a preliminary Whittle pit shell to constrain the resource estimate and other assumed pit parameters.
- The mineral resource has been estimated using a gold price of US$1,300/oz.
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Pickle Crow Project
