Positive English News Release Correction on TA2O5 & Be Results First Gold Begins a 7,500-METRE Drilling Program on Its Lac Pivert/Rose Lithium and Rare Metals Property
PRESS RELEASE
POSITIVE ENGLISH NEWS RELEASE CORRECTION ON TA2O5 & BE RESULTS FIRST GOLD BEGINS A 7,500-METRE DRILLING PROGRAM ON ITS LAC PIVERT/ROSE LITHIUM AND RARE METALS PROPERTY
FEBRUARY 26, 2010 – LAVAL, QUEBEC – First Gold Exploration Inc. (TSX-V: EFG) (FSE: F12) is pleased to report that a drill is to be mobilized on Lac Pivert/Rose property early next week. The minimum 7,500metre drilling program is aimed at testing the extensions along strike and at depth of the new lithium and rare metals zones discovered during the last program, carried out in December 2009. The Company plans to drill over 60 holes 75 to 150 metres long. A map showing the planned locations of the first 25 holes can be found on the Company’s web site. A table summarizing the initial drill results is shown below.
In addition, the Company plans to conduct an extensive prospecting and mapping program as soon as possible, with the aim of assessing the new surface showing that returned values of up to 4.6% Li2O, 1,390 g/t Rb, 51.4 ppm Ta, 72.6 ppm Nb, 106.5 ppm Ga and 90 g/t Be (see press release dated January 21, 2010) and identifying new showings over the entire property.
SUMMARY OF THE INITIAL DRILL RESULTS
| HOLE | FROM | TO | LENGTH | TRUE | Li 0 2 | Rb | *Ta O 2 5 | *Be | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HOLE | FROM | TO | LENGTH | WIDTH | Li 0 2 | Rb | *Ta O 2 5 | *Be | |||||||||
| No. | (m) | (m) | (m) | (m) | (%) | ppm (g/t) | ppm(g/t) | ppm (g/t) | |||||||||
| LR-09-02 including | 4.4 6.3 72.2 | 11.1 10.7 75.8 | 6.7 4.4 3.6 | 4.74 3.11 2.55 | 1.03 1.40 NSV | 2,923 2,245 1,572 | 286 260 237 | 128 129 62 | |||||||||
| LR-09-03 including | 2.2 2.2 76.2 | 8.6 5.8 80.5 | 6.4 3.6 4.3 | 4.55 3.12 3.72 | 0.70 1.20 0.10 | 1,982 2,271 2,217 | 341 284 200 | 121 113 79 | |||||||||
| LR-09-04 | 22.75 88.9 | 28 94.5 | 5.25 5.6 | 3.89 3.12 | 1.25 0.93 | 2,224 1,170 | 231 305 | 116 83 | |||||||||
| LR-09-05 | 0.2 | 3.4 | 3.2 | 2.77 | 0.88 | 3,071 | 255 | 100 | |||||||||
| LR-09-06 | 14.6 | 21.6 | 7 | 4.95 | 1.35 | 3,565 | 259 | 110 | |||||||||
| LR-09-07 | 13.9 | 27.3 | 13.4 | 9.48 | 1.5 | 2,755 | 290 | 155 | |||||||||
| LR-09-08 including | 15.9 16.35 87.9 | 28.8 25.35 94.75 | 12.85 9 6.85 | 9.09 6.37 5.93 | 1.05 1.43 0.42 | 3,108 2,828 1,243 | 237 253 328 | 96 95 139 | |||||||||
| LR-09-09 | 19.45 | 31.5 | 12.05 | 8.52 | 1.46 | 3,257 | 228 | 132 |
LR-09-10 24 37.5 13.5 9.55 1.25 3,558 218 126 including 24 33.2 9.2 6.51 1.42 4,089 220 137
- SHOULD HAVE BEEN REPORTED
PROPERTY DESCRIPTION
The properties lie in the northeastern segment of the Superior Geological Province within the Eastmain Greenstone Belt (NTS Map-Sheet 33C/1). Boisvert (1989) describes a variety of lithologies in the region, including biotite schists and gneisses, basalts, dacites, quartzites, conglomerates, gabbros, granites and pegmatites. Lithologies are generally well foliated with a southeasterly direction, except for the more massive, unfoliated granites and pegmatites. The Lac Pivert and Rose properties host pegmatites that occur as irregular but generally continuous lenses within the biotite schists. Individual pegmatites can attain up to 60 m in width and more than 100 m in length, collectively forming part of a much larger body kilometric in length and up to 300 m wide.
Carlson (1962 MRNFQ report RP 483) identified pegmatites enriched in Rare Earth Elements in the region. Additional work by the Ministère des ressources naturelles et de la faune Québec (“MRNFQ”) uncovered the Rose and Lac Pivert showings in 1961, with a similar metallogenic context to that of Lithium One’s Cyr Lithium discovery.
The Lac Pivert showing consists of a pegmatite containing 20% spodumene (a lithium aluminum silicate), beryl (a beryllium aluminum silicate) and trace molybdenite (a molybdenum sulphide). Grab samples returned up to 2.09% Li2O.
The Rose showing consists of a number of en-echelon pegmatite dikes, individually up to 15 m wide, crosscut by centimetric quartz veins. Spodumene and lepidolite (a potassium lithium aluminum silicate) can form centimetric lenses locally composing up to 40% of the pegmatites. Drilling on this showing returned values of up to 1.5% Li2O, 2,755 g/t Rb, 290 ppm Ta2O5 and 155 g/t Be over 13.4 metres.
This type of pegmatite is also associated with the Preissac-Lacorne batholith further south in the Abitibi region near Val-d’Or, where it was mined at the Québec Lithium mine (Boily, 1995; Mulja et al., 1995; Ste- Croix et Doucet, 2001).
Jean-Sebastien Lavallee (OGQ #773), Director of the Company and Qualified Person under NI 43-101, has reviewed and approved the technical content of this release. Mr. Lavallee has over 15 years of exploration experience in Canada, having worked as a consultant for numerous exploration companies through Consul-Teck Exploration Inc.
For more information, contact:
Eric Leboeuf President and Chief Executive Officer Telephone: (514) 862-6889 [email protected] www.firstgoldexploration.com
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accepts responsibility for the adequacy or accuracy of this release.