First Mining selling off gold project near Nestor Falls

A gold-rich property near Nestor Falls is changing hands.

First Mining Gold says it is selling off its Cameron Gold project to Vancouver-based Oronova (OROH-nova) Energy as part of a $27 million amalgamation agreement.

The agreement will see Oronova change its name to Seva Mining, with First Mining becoming its largest shareholder and supported by the Fiore Group of Companies.

The Fiore Group is a team of mine explorers, developers and operators that have assisted mining companies around the world, including West Red Lake Gold Mines.

“We are very excited to enter into this partnership with the Fiore Group to advance the Cameron Gold Project,” states Dan Wilton, First Mining’s Chief Executive Officer, in a release.

“The Fiore Group has a strong track record of creating shareholder value, with a focus and demonstrated success in building meaningful relationships and partnerships with Indigenous communities in Canada.”

Wilton says the deal will help advance the project.

First Mining acquired the Cameron Gold project almost a decade ago, and recently applied for provincial approval to ship ore to New Gold’s Rainy River Mine for processing.

The site spans over 448 square kilometres.

Reports estimate the area contains at least one million ounces of gold.