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First Class Metals return record strike

30 November 2022 12:19
LON: FCM

First Class Metals have received the highest-grade intercept yet to come from its West Pickle Lake JV, including an exceptional 12.8 per cent nickel equivalent over 2.3 metres from the Ontario discovery.

It is another high for an ever-expanding discovery remaining open in the direction of fully owned First Class Metals territory.

Hole TK-21-070 returned the record strike, with 3.1 percent nickel equivalent over 10.1 metres, holding values of 2.5 per cent nickel and one per cent copper.

Since marking the massive sulphide discovery, assays have continued to return exceptional intercepts, showing close resemblance to the nearby and extremely high-grade Smoke Lake Zone — with West Pickle Lake representing a new nickel district already host to five known sulphide zones.

And drilling has fired up again, with a second rig brought in to focus on infill and expansion of massive sulphide mineralisation, all while the spot price of nickel shoots upwards, rising by over 23 per cent in the last month alone.

The company said it continued to be encouraged by the spectacular high-grade assays.

“The size and potential of the West Pickle Lake massive nickel-copper sulphide discovery continues to expand and remains open to the west into the FCM 100% owned North Hemlo block,” chief executive Marc Sale said.

First Class Metals will have a stream of news coming in, awaiting on a series of results after working on all of its properties bar one over the past seven months.

FCM’s London Stock Exchange-listed share price was trading at 15.1 British pence today (12.13 pm UTC+ 8 hours).

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