NIA is excited to announce First Energy Metals (CSE: FE) currently $0.23 per share as its #1 favorite undiscovered precious and battery metals play. We love how FE has a very low share count of 32,700,003. FE’s market cap is currently CAD$7.521 million or USD$5.709 million. FE has a U.S. OTC symbol of ASKDF.
On June 2, 2020, FE acquired control of the 140-hectare Scramble Mine Gold Property located in Northwestern Ontario, Canada. In August 2020, FE carried out work at the site to find historically reported mineralization areas near the Scramble Mine while mapping gold mineralization veins and structures. A total of ten grab surface samples were collected during this work and submitted to Activation Laboratories in Thunder Bay, Ontario. FE reported on September 3rd that assay results for the 10 samples ranged from 5.03 g/t gold up to 82.30 g/t gold, with an average value in all samples of 29.34 g/t gold.
Following up on FE’s strong grab sample results, FE announced on September 9th that the company has contracted Pleson Geoscience to collect a bulk sample from its Scramble Mine Gold Property of up to one tonne mineralized material. The bulk sample will be collected from the main quartz vein as well as the dump material at the mine site. FE is currently going through the permitting process and has a goal of developing the project by not only confirming historical gold resources but by also starting small scale trial production from the dump material and easily accessible mineralized quartz vein material.
FE is also a battery metals play through its 1792-hectare Phyllis Cobalt Project in Ontario, Canada. Last year, FE drilled two holes at Phyllis totaling 82m. Drill hole PC-19-02 intercepted 0.10% cobalt, 0.79% copper, and 0.08% nickel over 12.1m located only 12.1m below surface. Drill hole PC-19-01 intercepted 0.09% cobalt, 0.54% copper, and 0.16% nickel over 4.4m located only 10.5m below surface.
FE recently acquired control of the 1,590-hectare Kokanee Creek Gold Property located in the Nelson Mining Division of British Columbia, Canada. A historical Kokanee Creek drill hole KC97-02 from 1997 intercepted 26.11 g/t gold over 0.7m located only 7m below surface plus 13.52 g/t gold over 1.4m located only 21.8m below surface.
FE is about to become a silver play because it is currently in the process of acquiring 100% ownership of a silver exploration property that we will be discussing in detail tomorrow. We will also be discussing the major news released by FE this morning about how it has entered into an option agreement to acquire an 1,880 hectare gold exploration property located in the prolific Red Lake gold mining camp.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA will receive compensation from FE of USD$35,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.