REG - First Class Metals - Directorate Change

FIRST CLASS METALSAnnouncement

02/02/2024 10:00

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RNS Number : 8761B  First Class Metals PLC  02 February 2024

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

 

 

FIRST CLASS METALS PLC

2 February 2024

 

Director Change

 

First Class Metals PLC ("First Class Metals" "FCM" or the "Company") the UK
metals exploration company seeking large scale metal discoveries across its
extensive Canadian Schreiber-Hemlo  Sunbeam and Zigzag land holdings,
announces that Ayub Bodi ceases to be a director with immediate effect.

 

 

ENDS

For further information, please contact:

 

 James Knowles, Executive Chairman  JamesK@Firstclassmetalsplc.com (mailto:JamesK@Firstclassmetalsplc.com)  07488 362641
 Marc J Sale, CEO                   MarcS@Firstclassmetalsplc.com (mailto:MarcS@Firstclassmetalsplc.com)    07711 093532

 

Novum Securities Limited

 

(Financial Adviser)

 

 David Coffman/ George Duxberry   www.novumsecurities.com   (0)20 7399 9400

 

 

 

 

NOTES TO EDITORS

First Class Metals PLC - Background

 

First Class Metals listed on the LSE in July 2022 and is focused on
exploration in Ontario, Canada which has a robust and thriving junior mineral
exploration sector. In particular, the Hemlo 'camp' near Marathon, Ontario is
a proven world class address for gold exploration, featuring the Hemlo gold
deposit operated by Barrick Gold (>23M oz gold produced), with the past
producing Geco and Winston Lake base metal deposits also situated in the
region.

FCM currently holds 100% ownership of seven claim blocks covering over 180km²
along a 150km strike of the Hemlo-Schreiber-Dayohessarah greenstone belt,
exploring for gold, base metals and rare earth element mineralization. In
addition, FCM is carrying out a joint venture with Palladium One on the West
Pickle Lake Property in the region, a drill-proven ultra-high grade Ni-Cu
project.

The flagship property North Hemlo had a high definition low level magnetic
Heli-borne survey in April 2022, this was followed with ground prospecting
which ultimately defined the 'Dead Otter Trend' which is a discontinuous 4.5km
gold anomalous trend with a 19.6g/t Au peak grab sample. This sampling being
the highest ever recorded on the North Limb of Hemlo

In October 2022 FCM completed the option to purchase the historical high-grade
past-producing Sunbeam gold mine near Atikokan, Ontario, ~15 km southeast of
Agnico Eagle's Hammond Reef gold deposit (3.3 Moz of open pit probable mineral
gold reserves).

FCM acquired the Zigzag Project near Armstrong, Ontario in March 2023. The
property features Li-Ta-bearing pegmatites in the same belt as Green
Technology Metals' Seymour Lake Project, which contains a Mineral Resource
estimate of 9.9 Mt @ 1.04% Li¬2O. Zigzag was drilled prior to Christmas 2023
and results are pending.

The significant potential of the properties for precious, base and battery
metals relates to 'nearology', inasmuch as all properties lie in the same
districts as known deposits (Hemlo, Hammond Reef, Seymour Lake), and either
contain known showings, geochemical or geophysical anomalies, or favourable
structures along strike from known showings (e.g. the Esa project, with an
inferred Hemlo-style shear along strike from known gold occurrences).

 

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