First Gold Strikes Again
LAVAL, QUEBEC -- (Marketwire) -- 07/27/10 -- First Gold Exploration Inc. (TSX VENTURE: EFG) (FRANKFURT: F12) is pleased to report the most recent drill results for the Lac Pivert/Rose project. The table below shows the results for holes LR-10-44, LR-10-49 to LR-10-50 and LR-10-52, drilled to test the extension of the zones to the east. All these holes intersected mineralized zones over consistent thicknesses. These positive results demonstrate the continuity and consistency of the lithium, tantalum, rubidium, beryllium, gallium and cesium values.
The Company is receiving laboratory results every day now, having recently submitted samples from over 30 holes; these results will be released in the coming weeks. The Company is also pleased to report that more than 87 holes have been drilled to date, and that the mineralized zones have been intersected in every hole and appears to thicken going east.
The map showing the location of the holes is posted on the Company's website at www.firstgoldexploration.com.
The new results obtained to date are as follows:
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HOLE TRUE
FROM TO WIDTH Li20 Rb Ta2O5 Be Cs Ga
No. ppm ppm ppm ppm ppm
(m) (m) (m) (%) (g/t) (g/t) (g/t) (g/t) (g/t)
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LR-10-44 49.10 50.20 1.10 0.67 3430 415 52 212 69
54.20 65.70 11.50 1.33 2752 215 90 160 64
120.55 122.20 1.70 NSV 3467 369 73 168 80
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LR-10-47 Still
pending
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LR-10-49 72.10 82.80 10.70 1.36 2855 229 119 126 72
142.50 147.00 4.50 1.21 1317 252 111 91 89
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LR-10-50 71.35 85.35 14.00 1.30 2560 245 146 125 67
142.30 145.65 3.35 0.29 2206 260 204 207 88
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LR-10-51 Still
pending
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LR-10-52 31.50 37.50 6.0 1.04 2903 240 103 105 73
41.65 44.45 2.80 0.29 1428 NSV 40 603 50
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(i) 1 ppm = 1 g/t
'I am pleased with the consistency of our results, on surface and over such a large surface area.' said Eric Leboeuf, President of First Gold Exploration.
The Lac Pivert/Rose property lies less than 5 km from the Eastmain 1 powerhouse. There is substantial infrastructure already in place. An access road and a power line cross the property within 1 km of the showings.
INFORMATION ON RARE METALS
Reference:
www.asianmetal.com (based on the most recent purchase contracts for July 2010)
Lithium Oxide with conversion of the Li2CO3 (Lithium Carbonate) price - Li2O
US $15.01/kg or per 0.10%
Tantale (Oxide) - Ta2O5
US $226.50/kg or $0.226 per ppm/gram
Gallium - Ga
US $440.00/kg or $0.44 per ppm/gram
Other:
Beryllium - Be
Moyenne de US $500.00/kg or $0.50 per ppm/gram
(Source: IBC Advanced Alloys)
Rubidium - Rb
US $740.00/kg or $0.74 per ppm/gram
(Source: USGS, sale of a large quantity from the Tanco mine (CBT-NYSE) when there was more information on transactions, 1980 to 1991)
Cesium - Cs
US $690.00/kg or $0.69 per ppm/gram
(Source: USGS, sale of a large quantity from the Tanco mine (CBT-NYSE) when there was more information on transactions, 1980 to 1991)
For calculation purposes:
1 ppm = 1 gram
0.10% = 1 kg/tonne
All the samples were sent for analysis in sealed containers to the Chemex laboratory in Val-d'Or by employees of the Company. Chemex is the laboratory used for analysis of all samples from programs on the Lac Pivert/Rose property. The samples are weighed and identified prior to sample preparation. The samples are crushed to 70% minus 2 mm, then separation and pulverized to 85% passing 75 um. All samples are analyzed using ICP-MS, with full analysis for 47 elements.
Jean-Sebastien Lavallee (OGQ #773), a geologist, shareholder and director of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Jean-Sebastien Lavallee
819-354-5146
jslavallee@consul-teck.com
www.firstgoldexploration.com