VANCOUVER, BC, Sept. 12, 2020 /CNW/ – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) would like to announce it that it has received assay results from July 2020 exploration work on Independence Gold Property located in the Southeastern BC. The results of 15 grab rock samples and 3 sediment samples collected from the Property indicate low values of gold, silver, and base metals with only one grab rock sample assayed 1.1 grams per tonne gold. The Company has decided not to pursue further exploration work on this property.
In addition, the Company has engaged GRA Enterprises LLC in association with the National Inflation Association (“NIA”) to advance investor knowledge of First Energy’s existing property portfolio. NIA was launched during the 2008/2009 global financial crisis with a goal of helping educate the public about monetary policy and how the Federal Reserve’s policies impact interest rates leads to price distortions, malinvestment, asset bubbles, and income/wealth inequality. NIA provides its members with information about the global economy and financial markets that the mainstream media refuses to discuss. NIA advocates for a return to the gold standard and provides analysis of the precious metals market while profiling publicly traded gold and silver mining/exploration companies that could be positioned to thrive during an inflationary environment GRA Enterprises LLC will be compensated up to $35,000 USD for its partnership and advisory services for a term of six months.
Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About First Energy Metals Limited.
First Energy Metals Limited is a junior resource company engaged in the exploration and development of precious and energy metals such as lithium, cobalt, gold and silver within its property portfolio in North America. The Company’s goal is to acquire prospective technology and precious metals properties and develop them. The Company currently holds an option to acquire 100% interest in Phyllis Cobalt property in Ontario. The Company has recently acquired Scramble Mine Gold Property in Ontario, and two gold exploration properties (Kokanee Creek and Independence Gold properties) located in the Province of British Columbia, Canada. First Energy Metals Limited (formerly “Agave Silver “) was incorporated on October 12, 1966 in the Province of British Columbia. The Company’s common shares trade on the Canadian Securities Exchange (CSE) under the symbol FE and are also listed on the US OTC Markets (Pink) as ASKDF and on the Frankfurt Stock Exchange as A2JC89.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
President & Chief Executive Officer
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s proposed exploration program; and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company’s proposed exploration program may not be completed on the terms and timing currently contemplated, or at all; and other risks as more fully set out in the Company’s continuous disclosure filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals and close the proposed exploration program The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
SOURCE First Energy Metals Limited
For further information: please contact the Company at: [email protected]