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First Class Metals extend Pickle Lake sulphides

7 February 2023 13:15
LON: FCM

First Class Metals’ West Pickle Lake JV grows yet again with further high-grade nickel sulphide assays from the Canadian project extending the strike to over 600 metres, remaining open to the east and west and showing grades up to 3.9 cent Nickel and 2.5 per cent copper over two metres of massive and semi-massive sulphides in hole TK-22-074.

And hole TK22-76, drilled just off the company’s wholly owned North Hemlo property, intercepted 43.6 metres of anomalous nickel mineralisation in an east-west trending structure, further enhancing the potential of high-grade mineralisation continuing on to North Hemlo.

The high-grade sulphide zone was first uncovered by JV partner Palladium One in September last year and since marking the massive sulphide discovery, assays have continued to return exceptional intercepts, showing a 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.

So far, a total of 32 holes over 6,776 metres have been drilled in the vicinity of the massive West Pickle Lake discovery, and assays continue to extend the discovery’s strike length even further.

The Company said that these results also further support Palladium One’s hypothesis that West Pickle Lake hosts a property-wide feeder dyke.

“The size and potential of the massive nickel-copper sulphide discovery continues to be expanded by the drilling and remains open to the west into the FCM 100% owned North Hemlo block. The anomalous results from hole ’76 further enhance the potential of the discovery into our North Hemlo property,” chief executive Marc J Sale said.

FCM’s London Stock Exchange-listed share price was trading at 12.25 British pence today (1.06 pm UTC+ 8 hours).

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