First Class Metals PLC, the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada, is pleased to provide an exploration update for the work conducted in 2024/25 Winter field season.
Winter Exploration Programme Highlights
• Five Very Low Frequency (“VLF”) geophysical surveys completed across key target areas at North Hemlo, including the high-potential ‘H Lake’ and ‘Rogers lake’ zones — strong conductors were identified, defining multiple follow-up exploration targets.
• Dead Otter VLF grid launched post-winter, expanding geophysical coverage along strike of previously reported high-grade gold showings – also targeting a new gold-zone 30m from main zone.
• North Hemlo tenure consolidated to 81km² following full acquisition of the OnGold claims – securing control of a strategic and highly prospective land package.
• Sunbeam property lake sediment programme yielded encouraging results – triggering the staking of an additional 78 claims and expanding the project area to over 88km².
• Site visit to Sunbeam by a renowned structural geologist leading to enhanced understanding of the Roy Zone’s structural controls of mineralisation – enabling cost-effective drill targeting between historic holes.
• LiDAR dataset acquired and under external review – enhancing structural interpretation across the broader Sunbeam gold corridor.
• At Quinlan, 16 lake sediment samples collected and analysed for lithium, REEs, and base metals – anomalous values in pegmatite-rich northwest sector identified for further investigation.
• Kerrs Gold Project resource update underway – integrating post-2011 drilling and verification sampling ahead of NI 43-101 update.
• SGS Lakehead Ontario to be engaged for beneficiation study on Zigzag – study to optimise recovery from outcrop ore.
Marc J. Sale CEO First Class Metals Commented:
“The Winter work programme was an operational success and the results it has produced are exceptional, generating robust exploration targets on the two main properties – North Hemlo and Sunbeam. We remain encouraged with the potential of the Roy structure at Sunbeam after the property visit with a renowned structural geologist, potentially a eureka moment!“
Winter work programme:
North Hemlo Exploration VLF survey:
· VLF survey at 5 distinct locations.
· 7 grab samples from ‘H’ lake structure.
· VLF survey over the Dead Otter trend initiated, three grab samples to date.
· Structural review of the Dead Otter trend planned.
Five areas were subjected to VLF gridded survey, the largest being H lake’ where 7 grab samples were also collected. The survey areas also included the 103ppb lake sediment sample on the OnGold property
Figure 1 shows the locations of the Winter programme VLF ‘grids’ at North Hemlo, excepting the Dead Otter grid(s).
The VLF survey is still being reprocessed but the initial findings show strong conductors at ‘H lake’ and Rogers lake (north). Rogers lake was the ‘focus’ of several anomalous lake sediment samples from a previous winter programme.
It is anticipated that once all the data has been processed there will be a number of robust targets warranting follow up ‘ground truthing’ / prospecting, see Figure 2 for an example of the initial VLF identified conductors
Figure 2 showing VLF identified conductors under the lake with anomalous gold results from lake sediment samples
The initial readings from the OnGold area are also most encouraging with obvious conductors being identified. This is especially significant as an exploration target as this lake contained a very high gold value in the lake sediment, (103ppb) one of the highest in the Hemlo camp as was previously reported by Bruce MacLachlan of Emerald Geological services.
The fact that all requirements have now been met under the Option agreement with OnGold has resulted in the ‘OnGold claims’ now being transferred to First Class Metals Canada Inc (“FCMC”) 100%, making the combined North Hemlo property block 81km2 (not including the West Pickle Lake JV with GT Resources).
The VLF survey over the Dead Otter trend was initiated in late May. The survey had been annexed from the winter work programme because of the depth of snow making access difficult in conjunction with the topography. The map below shows the grid lines of the survey areas, which are basically the stripped areas with an additional ‘virgin’ area as a comparison. The original Dead Otter showing grid is merged with the stripped area at the ‘2.3 grammer’ where 2024 prospecting revealed a second gold- bearing structure associated with anomalous copper mineralization 30m across strike to the northeast of the stripped area. Line lengths were extended from the original design owing to several factors, one being the VLF grids already completed indicated a clear ‘shoulder zone’ in the readings was preferable and to ensure coverage of the soil sampling programme which had several anomalous values at line’s end. Furthermore as indicated above the gold reports in structures some 30 metres distant from the main trend. To date, three grab samples of quartz vein material have also been collected.
Figure 3 Showing the VLF grid lines over the Dead Otter trend
In order to better understand the structural controls of the mineralisation at ‘Dead Otter’, FCM intends to utilise the same structural geologist that was engaged to review the Sunbeam property. This site visit is planned to take place once the Dead Otter trend VLF is completed and processed, prior to further exploration of the trend.
The work currently planned, completed or ongoing will give a better understanding of the geology, structure and mineralisation and will optimise any proposed drilling. This focussed approach will overall save time and costs.
Sunbeam Property
Sunbeam property extending over >70km2 contains three historic development sites: Sunbeam, the most exploited, Roy and Pettigrew; these all sit on previously identified mineralised district scale structures, see Figure 4. Furthermore, along these three mineralised structures a number of other significant gold bearing sites have been identified, such as Road zone and Rubble. The historic developments as well as the widespread occurrence of gold (along the structures) emphasise the gold endowment of the property and the potential for a major discovery.
Figure 4 showing the mineralised trends on the Sunbeam property and with the locations of the lake sediment samples, as well as the recently staked claims.
The programme resulted in 38 lake sediment samples being collected from the extended Sunbeam property area, see Figure 4. Overall, 79 samples were collected during the survey.
The results from the lake sediment samples have now been received and were of sufficient encouragement that an additional 78 claims were staked – see Figure 4. This has now increased the Sunbeam property to over 88km2.
The recent visit to the Sunbeam property by ex-Lakehead University (Thunder Bay) Professor of structural geology, Mary Louise Hill, is considered a resounding success. Whilst her final report has not yet been received the dialogue ‘on the outcrop’ was enlightening and has helped significantly in the understanding of the structural control of the mineralisation present in the stripped areas, specifically the Roy zone. This insight to the association of structure and gold reporting is essential in the logical placement of drill holes.
Future exploration includes a focussed soil sampling programme along the structures, initially the Roy zone. This will increase the geochemical understanding, potentially identify further zones along the trend warranting invasive exploration, possibly stripping to identify potential drill targets. Certainly, this focussed approach is a far more cost-effective method of exploration than premature drilling. However, with the opinion on the structure and its relevance to mineralisation received during the recent site visit it is considered that with some further, not extensive, groundwork and the soil results from the area around the Roy zone there would be strong support for drilling between the historic drill holes of the 80’s.
The initiation of the season’s exploration on the Sunbeam property will be the follow up of the soil survey at Roy. Success at Roy will support a similar programme on the Sunbeam – Road zone and the Pettigrew structures.
The Light Detecting and Ranging (LiDAR) information for the Sunbeam property and environs has been acquired. An initial inhouse appraisal is sufficiently encouraging that an external professional interpretation is being discussed.
The ‘new’ and historic zones when considered with the known high grade gold intersections both in drill hole and in the stripping, combined with the robust nature of the three mineralised structures makes the Sunbeam property a veritable district scale target with excellent potential for a significant discovery.
Advances on other properties
Kerrs
Kerrs resource update is progressing well. The drill hole data post the existing NI 43-101 (2011) has been identified and this will be incorporated into the resource. However, as this will entail a site visit as well as verification sampling, this being so, no timeframe for completion is currently to hand.
Zigzag
A proposal from SGS Lakehead has been received. The beneficiation study will require approximately 30kgs of rock. It is intended to use outcrop material when the company decides to proceed.
Key program deliverables will include:
• Sample preparation of Outcrop Sample
• Head characterization (head analysis for Li, Ta, Cs, Rb, Ga, Nb, WRA, and XRD mineralogy)
• Heavy Liquid Separation to evaluate potential for beneficiation with Dense Media Separation
Spodumene flotation testing Final reporting
An important factor in the consideration of this study is that SGS have confirmed that outcrop material from the Zigzag property can be used over sacrificing the available core which is an invaluable record of the successful drilling and would be critical in vending the asset.
Quinlan
As part of the Winter work programme a property wide lake sediment sampling survey was completed.
In total 16 samples were collected and analysed for Lithium (Li) as well as gold and other base and ‘critical’ metals, see Figure 5
Figure 5 showing the Quinlan property and locations of the lake sediment samples.
The results were not in the same scale of anomalism to the originals Ontario Geological Survey (OGS) results. However, the higher values in the northwest where the OGS reported extensive pegmatite outcrop produced the most anomalous results of the survey. In addition, there were elevated values of some critical elements and REE. It would be the attention to further investigate this sector before any decision in respect to the Option is concluded.
Qualified Person
The technical disclosures contained in this announcement have been drafted in line with the Canadian Institute of Mining, Metallurgy and Petroleum standards and guidelines and approved by Marc J. Sale, who has more than 30 years in the gold exploration industry and is considered a Qualified person owing to his status as a Fellow of the Australian Institute of Mining and Metallurgy.
For Further Information:
Engage with us by asking questions, watching video summaries, and seeing what other shareholders have to say. Navigate to our Interactive Investor hub here:
https://fcm-l.investorhub.com/link/MP7o0P
For further information, please contact:
James Knowles, Executive Chair
Email: JamesK@Firstclassmetalsplc.com
Tel: 07488 362641
Marc J Sale, CEO
Email: MarcS@Firstclassmetalsplc.com
Tel: 07711 093532
