The company reported high-grade infill results earlier this year ahead of the regional drilling at Goldlund, one of the company's most advanced projects. 

The above-mentioned intercept was among the first six fire assay results from the Miller prospect, as part of a 13-hole programme designed to test Miller and Eaglelund.

President and CEO Jeff Swinoga said the significant mineralisation at Miller was "a striking success on its own".

"However, of much greater significance to the bigger picture at Goldlund, is that today's results confirm the presence of Goldlund-style mineralisation approximately 10km from the current resource area along strike of this 50km-long property and indicate the near-term exploration potential to expand the Goldlund resource," he said.

First Mining Gold, which changed its name from First Mining Finance in January, established a maiden resource comprising an indicated 560,000 ounces and an inferred 1.75Moz at Goldlund last year.

The company has budgeted C$1.6 million (US$1.2 million) for exploration this year at the project, which was mined in the 1980s.

It had $12.5 million (US$9.6 million) in working capital at the end of June.

First Mining shares had hit a 52-week low on Friday of 34c and closed up 8.7% on Monday to 37.5c, a level about half the value they were trading at 12 months ago.