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First Class Metals Enable success

18 January 2023 12:20
LON: FCM

First Class Metals have revealed new gold and silver showings at the Enable project, with its latest assays showing gold grades over 7ppm gold alongside silver values as high as 83ppm.

Over 80 rock samples were taken from the Candian project in last year’s field season, with results confirming and extending the historic on-property West Perch Lake showing that previously returned a 1.85 grams per tonne gold rock chip sample.

The 16.4-kilometre project is dissected by a district-scale mineralised geological feature, with 30 plus associated gold occurrences and numerous showings located on surrounding claims, including the Joa Walton occurrence to the southwest that returned assays of 192.7g/t Au and 401g/t Ag.

The company said these known gold occurrences and the presence of historical gold supported the inferred continuation of the geological structure throughout its claim block.

“Further work, it is hoped, will expand the area of quartz veining. FCM is sufficiently encouraged by the work to date to start the drafting of an Exploration Permit Application, once approved by the First Nations and granted by the Crown, valid for 3 years, will allow stripping, trenching and a scout exploration drilling programme,” chief executive Marc J Sale said.

“Currently all assessment work is complete, and the claims are in good standing through 2023. The Enable claim block, previously considered of merit, is now assuming significance in the company’s ever-aspiring portfolio.”

The company is wasting no time following up, its Winter 2023 exploration campaign is already underway with planned sediment sampling across the claim block.

FCM’s London Stock Exchange-listed share price has risen 4.24 per cent today, selling at 14.75 pence (10:30 pm UTC+ 8 hours).

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