First Class Metals PLC McKellar & Enable Granting of Exploration Permits (9640T)
November 20 2023 - 2:05AM
UK Regulatory
TIDMFCM
RNS Number : 9640T
First Class Metals PLC
20 November 2023
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FIRST CLASS METALS PLC
November 20(th) 2023
McKellar & Enable Granting of Exploration Permits
First Class Metals PLC ("First Class Metals" "FCM" or the
"Company") the UK metals exploration company seeking economic metal
discoveries across its extensive Canadian Schreiber-Hemlo, Sunbeam
and Zigzag land holdings is pleased to announce that its 100% owned
subsidiary First Class Metals Canada Inc. ("FCMC") has received
notification from the Ontario Province of the granting of two
further Exploration Permits.
The permits are effective for a period of three years until
expiry on the 16(th) November 2026. The permitted activities are:
stripping, trail cutting and diamond drilling,
HIGHLIGHTS
-- Exploration permits for Enable and McKellar received from the Ontario Ministry of Mines.
-- FCMC now holds six exploration permits over properties of great merit.
-- The area covered by valid exploration permits has expanded
significantly, encompassing nearly 200km(2) of land. Within this
vast area, we have identified numerous priority drill targets
across each of our properties. These targets hold immense potential
for exploration and discovery.
Enable
The Enable property is transected by a regional structural
contact with an inferred extent of 5km, within the property, with
proven mineralisation. Historical showings on the property include
Perch Lake reporting 1.85ppm Au. FCM has validated that assay as
well as several hundred metres away identified outcrop with assays
up to 7ppm Au and 80ppm Ag. Further work, initially stripping is
warranted.
McKellar
The 12.5km(2) McKellar property only 25km from Marathon and
adjacent to highway I17 contains a plethora of historic showings
including gold, silver (Old Pic silver mine historical reports over
20oz Ag) a REE bearing diatreme and importantly a >400m
mineralised trend, open along strike, containing >4% zinc (Zn)
As well as associated anomalies in lead and copper. Previous work
by Noranda postulated this anomalous structure was a potential VMS
- volcanic massive sulphide.
Marc J. Sale, CEO of FCM commented:
"I am gratified and humbled that the relationship with the First
Nations with whom we interact has been recognised in the granting
of these Permits. Currently we now have six permits, along with
three Memorandums of Understanding (MoUs) and an Exploration
agreement signed with four separate First Nation groups. I would
also like to extend my thanks to the staff of the Ontario Ministry
of Mines for their diligent work in issuing the permits.
These permits will enable us to conduct focused exploration
efforts, with the ultimate aim of further refining delineating
drill targets and commencing drilling operations. The mutual
respect and collaboration we have fostered with the First Nations
is of utmost importance to us, and we are honoured to have made
such significant progress across the majority of our
portfolio."
Other currently active Permits include:
-- Sunbeam (two Permits), gold focus. Stripping and channel
sampling completed across thee zones of interest, results still
outstanding for the Sunbeam & Pettigrew areas.
-- Zigzag, hard rock lithium/critical metals. Channel sampling results pending
-- Esa, predominately gold. Extensive soil sampling campaign across the 4.5km shear pending.
-- North Hemlo, gold base / battery metals. Exploration plan for
stripping on the Dead Otter Trend in progress.
For further information, please contact:
James Knowles, Executive
Chairman JamesK@Firstclassmetalsplc.com 07488 362641
Marc J Sale, CEO MarcS@Firstclassmetalsplc.com 07711 093532
-------------------------------- -------------
Ayub Bodi, Executive Director AyubB@Firstclassmetalsplc.com 07860 598086
-------------------------------- -------------
First Equity Limited
(Financial Adviser & Broker)
Jonathan Brown 0207 3742212
Jason Robertson 0207 3742212
-------------
First Class Metals PLC - Background
First Class Metals is focussed on exploration in Ontario, Canada
which is considered a top global destination for exploration with a
robust and thriving junior mineral exploration sector.
Specifically, t he Hemlo 'camp' is a proven world class address for
gold /VMS exploration. This geological terrane has significant
production , both base / precious metals and a prolific number of
exploration projects and numerous prospector's 'showings'.
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