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First Class Metals go massive on sulphides

6 October 2022 12:06
LON: FCM

First Class Metals continues to validate its faith in the renowned Schreiber-Hemlo belt, with preliminary assay results from the West Pickle Lake JV showing exceptional grades of 4.8 per cent nickel and 3.7 per cent copper.

Assays were returned over 1.8 metres of massive nickel-copper sulphides, closely resembling the extremely high-grade Smoke Lake Zone just 20 kilometres to the east of Pickle Lake.

Work done by FCM’s JV partner for pickle lake, Palladium One, indicates prospectivity remains open to the west and onto wholly owned by First Class Metals territory.

The West Pickle Lake nickel-copper zone was discovered early last month after drilling on a 600-metre-long electromagnetic anomaly revealed visual massive Ni-Cu hosting sulphite mineralisation and FCM wasted no time following up.

This assay is only from the first hole of a twelve-hole drilling campaign, but the company said it had already swollen its potential.

“The reporting of the initial results from FCM’s West Pickle Lake prospect JV, add additional evidence that a new district scale nickel (copper) sulphide discovery is emerging on our North Hemlo property,” chief executive Marc Sale said.

First Class Metals await results on the final eleven drilling results as it continues to explore North Hemlo.

Preliminary assay results:

3.4% Nickel Equivalent (“Ni Eq”) over 3.7 meters (2.3% Ni, 1.8% Cu, 0.45 g/t Total Precious Metals (“TPM”) (Pt+Pd+Au)) in hole TK-22-059

Including 6.8% Ni Eq over 1.8 metres (4.8% Ni, 3.7% Cu, 0.87 g/t TPM)

And 9.4% Ni Eq over 0.6 metres (8.2% Ni, 1.6% Cu, 1.62 g/t TPM)

FCM’s London Stock Exchange-listed share price has risen 7.69 per cent today, selling at 14 British pence (10.57 am UTC+ 8 hours).

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