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First Class Metals Prepare to Move on Magical Mckellar

2 March 2023 15:18

First Class Metals look to keep up the pace in Canada, having detailed the results from the initial exploration of its Mckellar and Magical Projects on the Hemlo-Schrieber belt as well as its plans for the projects into 2023.

Over the 2022 field season, over 100 rock chip samples were collected from Mckellar, with most work targeting the 500-metre Mckellar trend and the nearby Alvey occurrences, with highlights including assays of 4.82% zinc and 80 g/t silver.

So far, results from the 2022 work program have offered evidence for the Company’s conceptual volcanic massive sulphide model, as well as the extension of historical high-grade metal occurrences.

Alongside these grabs, Mckellar has also been showing potential for rare earth elements, with the Mckellar Creek diatreme showing anomalous historical results for various REEs including neodymium (300ppm) and strontium(1280ppm), offering FCM a new avenue for exploration at the property.

FCM also upped its holdings in the area, staking eight contiguous claims adjoining Mckellar’s southern border, further demonstrating the explorer’s faith in the project.

First Class Metals also provided an update for Magical, located just 9km northwest of the world-class 23-million-ounce Barrick-Hemlo gold mine, with results supporting FCM’s theory of mineralisation along the sheared geological contact it shares with the Gowan Lake showing (~1.5g/t Au) and the Kusins showing (70.87 g/t Ag).

The Company said it believes it has started the 2023 season with significant impetus.

“Further encouragement from the 2022 field season includes the initial exploration results at McKellar returning significant results on the historic trend rich in zinc and silver. The mineralisation remains open, further work is warranted,” Chief Executive Marc J Sale said.

“There are additional compelling targets on the property including the diatreme which will be followed up in the upcoming field season. The anomalous first pass results from the initial field programme at Magical have supported the theory of mineralisation along the sheared geological contact and further work is planned.”

First Class Metals is now hard at work preparing for the 2023 field season and is currently awaiting results from soil sampling at the sea project as well as from the ongoing winter program of lake sediment sampling.

FCM’s London Stock Exchange-listed share price is currently selling at 12.50 pence (3.17 pm UTC+ 8 hours).

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