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First Class Metals get a golden Sunbeam

20 October 2022 13:08
LON: FCM

First Class Metals exploration continues to gather pace, having locked in two new exploration permits for its Sunbeam project in Ontario’s Canadian Shield, one of the world’s richest areas for mineral ores.

The two new permits will hand First Class Metals the reigns for drilling, trenching, stripping, ground geophysics, and trail cutting across the historic gold property.

There will be little time wasted getting to work, with initial focus squared on known, underexplored targets as the company plans a review of historical data to enhance its targets and reveal more avenues of exploration.

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Sunbeam Gold Mine Circa 1905

The structure hosting Sunbeam remains open in all directions and previous workers have estimated that up to 70,000 tonnes grading at 13g/t of gold remain in old workings.

The company said to have permits so soon after purchase was a great success and showed it was hitting the ground running with industrious exploration.

“The award of the two exploration permits over the Sunbeam Project area will allow a systematic programme of exploration activities over the next three years,” chief executive Marc Sale ssaid.

“We are able to proceed with meaningful exploration towards advancing this highly prospective project.”

First Class plan an initial drill programme in the coming field season.

FCM’s London Stock Exchange-listed share price was trading at 14.5 British pence today (12:12 pm UTC+ 8 hours).

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