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, provides an update on the North Hemlo drilling results.
· Final assays return for 50% of the 400 samples
· Provisional values on the remainder
· Results being interpreted in parallel to other geochemical and geophysical information
The gold assays received, both final and provisional do not contain any >1g/t gold (Au) values with the highest assay being 117ppb. The full and final results are not expected to alter this. Over 100 samples returned gold values greater than detection. Furthermore, there are also anomalous molybdenum values coincident with albeit only slightly anomalous Au values. This is potentially significant and given their association with Hemlo style mineralisation there remains some encouragement.
Next steps will involve a thorough review of all geological geochemical and geophysical information in order to plan follow up exploration. The final results will be integrated with the anomalous soil samples as well as the VLF interpretation once completed. Given the encouraging provisional initial results from the LiDAR over the Sunbeam property area this is also a consideration going forward, given the structural relationship with the mineralisation previously identified is proving critical.
Marc J. Sale CEO First Class Metals Commented:
“Initial gold assay results as both final and provisional have returned a limited number of anomalous values and are below our expectations for this phase of drilling. Whilst the low number of gold anomalous assays returned might be interpreted as discouraging, the results and the other significant assays from previous work as well as the potential of the geophysics should be considered as vectors to the further exploration of the >3km trend which has previously demonstrated robust gold assays.
Additionally North Hemlo is a property of merit with a number of other significant exploration targets which will be advanced in parallel to further work at the Dead Otter trend”
ENDS
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
