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First Class ahead of the trend at North Hemlo

27 January 2023 10:51
LON: FCM

First Class Metals continue to keep its golden promise on the Hemlo-Schreiber belt with an over 3 kilometres long anomalous Gold/Molybdenum trend identified southeast of historic Dead Otter Lake occurence at its flagship North Hemlo project.

Grabs of up to 19.6 grams per tonne of gold alongside numerous other assays over 1g/t were uncovered along the trend to Dead Otter Lake, which has historic showings up to 3.7 g/t Au, 0.59% Mo and rests just 20 kilometres away from the world-class Barrick Hemlo 23 million ounce producing gold mine.

First Class Metals believe the associated molybdenum will be a crucial pathfinder in further exploration across the property given the association with its highly productive Hemlo neighbour.

The company has also just received drilling results from its West Pickle Lake JV held with Palladium One, indicating that high-graded nickel-copper sulphide occurrences could potentially extend onto wholly owned FCM property.

“Alongside our own work on the property which has been majority focussed on the south, Palladium One has achieved some outstanding successes with high-grade nickel sulphides from several drill intercepts on the West Pickle Lake JV,” chief executive Marc J Sale said.

“We are preparing for the 2023 season with the encouragement to develop an exploration programme to further this highly prospective project.”

Exploration of the newly uncovered Dead Otter Lake Trend and extensions of the West Pickle Lake occurrence onto wholly owned FCM property will be the major focus as it launches its 2023 field program.

FCM’s London Stock Exchange-listed share price is currently selling at 14.25 pence (9.45 am UTC+ 8 hours).

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