First Gold Exploration Inc fka EFG

[califax]

Best Drill Results to Date, New Listing and Project Updates

Date : 09/15/2010 @ 10:41AM
Source : MarketWire
Stock : First Gold Exploration Inc. (EFG)

http://ih.advfn.com/p.php?pid=nmona&article=44380934&symbol=TX^EFG

First Gold Exploration Inc. (TSX VENTURE: EFG) (OTCQX: FGEXF) (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-10-69 to LR-10-90, drilled to test the extension of the zones to the east. All the holes intersected mineralized zones over consistent thicknesses, and indicated that width and grade are increasing.

The drilling program is ongoing, with Hole LR-10-126 presently underway. Drilling continues to intersect the mineralized zones with sustained thickness.

A map showing the location of the holes is posted under Pivert/Rose Lithium Project in the Projects section of the Company's website, at www.firstgoldexploration.com.

The best results obtained to date are as follows:

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HOLE TRUE
FROM TO WIDTH Li20 Rb Ta2O5 Be Cs Ga
# ppm ppm ppm ppm ppm
(m) (m) (m) (%) (g/t) (g/t) (g/t) (g/t) (g/t)
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LR-10-69 89.15 109.20 20.05 1.31 2649 180 113 109 72
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LR-10-70 91.50 97.00 6.50 0.91 3899 232 121 135 73
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LR-10-71 48.35 62.45 14.15 1.64 2182 137 124 72 75
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LR-10-72 37.95 53.20 15.25 1.34 2547 150 72 97 69
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LR-10-73 39.70 45.80 6.10 0.15 1726 125 127 73 62
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LR-10-74 20.85 29.00 8.15 0.37 4358 119 143 166 57
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LR-10-75 52.45 73.90 21.45 1.22 2983 206 139 117 78
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LR-10-76 11.15 18.70 7.55 1.35 2833 197 148 143 79
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LR-10-77 34.70 39.00 4.30 1.75 1903 208 118 80 86
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LR-10-78 49.20 61.70 12.50 1.30 1882 112 141 80 76
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LR-10-79 59.8 75.65 15.85 1.50 2283 188 143 77 73
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LR-10-80 66.75 85.5 18.05 1.27 3877 189 175 120 75
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LR-10-81 87.65 102.8 15.15 0.76 2346 176 117 106 67
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LR-10-82 82.9 99.25 16.35 1.12 2462 189 147 93 74
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LR-10-83 100.75 120.45 19.70 1.15 2966 175 138 163 77
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LR-10-84 111.75 126.05 14.30 1.38 3171 181 141 115 72
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LR-10-85 114.50 130.60 16.10 1.45 2918 149 137 98 67
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LR-10-86 118.45 135.25 16.80 1.49 1657 145 101 68 61
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LR-10-87 81.45 96.10 14.65 1.48 2286 157 104 84 68
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LR-10-88 74.20 92.30 18.10 1.57 2614 183 129 91 77
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LR-10-89 77.70 93.85 16.15 1.70 2909 204 131 95 69
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LR-10-90 75.55 93.55 18.00 1.72 2555 161 110 97 73
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(i) 1 ppm = 1 g/t


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.

Stock Listing Update

First Gold is pleased to report that it is now listed on the OTCQX in the US under the stock symbol FGEXF. Consequently, the Company is now able to solicit US firms and send information to the US investor base.

Project Update - Lac Pivert/Rose Rare Metal Property

First Gold is drilling the project based on an open pit model. Unlike most spodumine-bearing dykes in the area, those on the Lac Pivert/Rose project lie parallel to surface, starting at 0 meters and dipping very slightly but steadily downward towards the north and the east.

InnovExplo was retained two months ago to complete a 43-101 property report and a resource estimate for the structures (mineralized zones).

Once it has received these reports, the first of which is due in September 2010 and the second in November 2010, the Company will order a pre-feasibility study and drill to expand this area of interest. It should be noted there are roads and power lines within a 1 km radius of the site.

New showings have been discovered 500 metres and up to 2.5 kilometres away from current project location. Sample grades of up to 4.6% Li2O have been received from the lab for these showings. First Gold will mobilize a drill within the next month to determine the potential of these new showings, test the Pivert showing and to try to build resources on other sectors of the property.

Project Update - San Javier Silver Property

First Gold is preparing a sampling program to begin in November 2010 to determine the location of the drilling campaign.

Results of random surface sampling at San Javier in 2009 yielded high silver values: 12,905 g/t or 376,4 oz/ton silver, 2,439 g/t or 71,2 oz/ton silver, 2,356 g/t or 68,7 oz/ton silver and 816 g/t or 23,8 oz/ton silver. In addition to the unusually high-grade silver and gold mineralization, the veins are also rich in base metals: copper, lead, zinc, tin and iron ore.

A recently-completed positive 43-101 report for the property confirmed that the project has strong exploration potential. Given the recent strength of silver prices, San Javier could grow to be another important asset for the Company.

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:

First Gold Exploration Inc.

Eric Leboeuf

President and Chief Executive Officer

450-744-0792

[e-mail]

www.firstgoldexploration.com



First Gold Exploration Inc.

Jean-Sebastien Lavallee, P.Geo

Director and geologist

819-354-5146

[e-mail]

www.firstgoldexploration.com


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