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First Class Metals powering up Pickle Lake

22 November 2022 11:18
LON: FCM

First Class Metals have again returned high-grade nickel sulphide assays from its West Pickle Lake earn in/joint venture with Palladium One in the mining-ascendant Ontario province of Canada.

Latest assays include hole TK22-60, which returned 3.2 per cent nickel and 1 per cent copper at a 3.9 per cent nickel equivalent from massive nickel copper sulphides.

Other results highlighted by Palladium one was hit of 0.9% Ni Eq over 12.6 metres, which included 3.9% Ni Eq over 2.4 metres and 8.68% over 0.5 metres, with West Pickle mineralisation now defined over more than half a kilometre of strike length.

Since marking the massive sulphide discovery, assays have continued to return exceptional grades of nickel and copper, while indicating that prospectivity remains open and stretches onwards to First Class Metals’ fully owned North Hemlo project.

West Pickle Lake also bears a remarked similarity to the extremely high-grade Smoke Lake Zone, resting 20 kilometres eastward and showing grades as high as 10.2 per cent nickel equivalent over 3.8 metres.

The company said ongoing results had given more reason for optimism in continued expansion of the freshly discovered zone.

“Additional optimism is the proximity of the hole TK22-76 to the North Hemlo claim block, bolstering the block’s potential and further emphasising the requirement for systematic exploration,” chief executive Marc Sale said.

Since listing in the midst of turbulent market conditions in July, First Class Metals have continued to ascend, moving from a London Stock Exchange-listed share price of 10 British pence at the beginning of August to its current share price of 15p (10.35 am UTC+ 8 hours).

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