First Class Metals PLC (LON: FCM) the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada, is pleased to report further visible gold has been identified in core from the drilling at the Roy prospect on the Sunbeam Property.
First Class Metals: Gold in the Hills, Assays Still to Come
Highlights
· Visible gold (‘VG’) observed in two separate sections of core from a second drill hole at Roy, further confirming the presence of gold mineralisation within the targeted structure
· The planned drill programme has now been successfully completed with 12 holes drilled at Roy.
· Total meterage exceeded the 1,000m contractual minimum.
· Current drilling has confirmed the mineralised structure over a strike extent exceeding 300m.
· Detailed geological logging and sampling is ongoing with the logging of 6 holes now complete.
· Eight drill holes remain to be cut and sampled.
· Holes 1-2 have been dispatched to the laboratory in Thunder Bay for assaying.
Marc J. Sale CEO First Class Metals Commented:
“The drill programme at Roy has to date been a resounding success. I was fortunate to be on site when the first visible gold was identified. The identification of a second occurrence, in two sections of core, while we are still barely halfway through the logging and sampling is incredibly encouraging and furthers the credibility of the Sunbeam property as a whole.”
Roy structure
The lineament that the Roy occurrence / development is located on is a district scale structure and has now been traced through historic work and Emerald Geological Services (“EGS”) prospecting towards the 111ppb lake sediment sample some 5km northeast along strike of the mine shaft. The structure also hosts historic shafts B43 and B45, which further enhances the potential see Figure 1.
Figure 1 illustrating the soil (VLF) grid and locations of historic shafts, including Roy, drilling has focussed on the area immediately around the Roy shaft and the strike extension to the NE.
Drilling
The planned 1,000m minimum programme has been successfully completed with 12 holes drilled for a total of 1,030m, see Figure 2
Figure 2 showing the location of the locations of the 12 drill holes at Roy, note hole 26-01 was abandoned at 26m.
All holes intersected the targeted ‘structure’ or the potentially mineralised package which is now confirmed over a strike length exceeding 300m, see Figure 2 and 3
Figure 3 boxes of core from drill hole SUN-26-06, drilled on an azimuth of 200o, in order to test the plunge of the mineralsied structure. It shows the mineralised ‘package’ of altered (variously quartz veined) tonalite on the margins of deformed chloritic schist containing / alternating with quartz veins and veinlets. This hole contains two separate occurrences of VG.
The observation of further visible gold in the core in two separated locations is extremely significant, see Figure 4-8.The gold grains are scattered throughout a small area of the quartz vein and again associated with galena.
Figure 4 showing the quartz vein with the visible gold
Figure 5 showing closer view of the visible gold grains in one of the quartz veins.
Figure 6 showing visible gold grains in the quartz vein.
Figure 7 showing visible gold grains and galena in the quartz vein.
The gold is intimately associated with a lead mineral, galena, which appears a slightly metallic grey in the images.
Figure 8 showing a second occurrence of visible gold grains and galena in the quartz vein, less than a metre from the initial observation.
The EGS team will continue to diligently log and sample the remaining six holes and keep keen eyes open for further instances of VG.
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.
Glossary of Technical Terms
|
Term |
Explanation |
|
Visible Gold (VG) |
Gold that can be seen with the naked eye in drill core or rock samples. Visible gold does not necessarily indicate economic grades but is considered a positive indicator in gold exploration. |
|
Drill Hole |
A hole drilled into the ground to obtain rock samples (core) for geological logging, sampling and analysis. |
|
Core |
Cylindrical rock recovered during diamond drilling, used to examine geology and mineralisation. |
|
Strike Length |
The horizontal distance over which a geological structure or mineralised zone can be traced. |
|
Mineralised Package |
A sequence of rocks containing minerals associated with potential economic metal deposits. |
|
Quartz Vein |
A fracture or crack in rock that has been filled with quartz. Quartz veins are commonly associated with gold mineralisation. |
|
Galena |
A lead sulphide mineral (PbS) that can be associated with precious metal mineralisation in some geological systems. |
|
Structure / Structural Zone |
A geological feature such as a fault or shear zone that may control the movement of mineralising fluids and the location of mineral deposits. |
|
Logging |
The detailed geological description and recording of drill core, including rock type, alteration and mineralisation. |
|
Sampling |
The process of cutting and collecting sections of drill core for laboratory analysis to determine metal content. |
|
Assay |
Laboratory analysis used to determine the concentration of metals within a rock sample. |
|
Alteration |
Chemical changes to rock caused by mineralising fluids, often associated with ore-forming processes. |
|
Schist |
A metamorphic rock characterised by strong foliation and alignment of minerals. |
|
Tonalite |
A coarse-grained intrusive igneous rock similar to granite, commonly found in mineralised geological terranes. |
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:www.firstclassmetalsplc.com
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
