REG - First Class Metals - McKellar & Enable Granting of Exploration Permits

FIRST CLASS METALSAnnouncement

20/11/2023 07:15

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RNS Number : 9640T  First Class Metals PLC  20 November 2023

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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
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inside information is now considered to be in the public domain.

 

FIRST CLASS METALS PLC

November 20(th) 2023

McKellar & Enable Granting of Exploration Permits

 

First Class Metals PLC ("First Class Metals" "FCM" or the
"Company") the UK metals exploration company seeking economic metal
discoveries across its extensive Canadian Schreiber-Hemlo, Sunbeam and Zigzag
land holdings is pleased to announce that its 100% owned subsidiary First
Class Metals Canada Inc. ("FCMC") has received notification from the Ontario
Province of the granting of two further Exploration Permits.

The permits are effective for a period of three years until expiry on the
16(th) November 2026. The permitted activities are: stripping, trail cutting
and diamond drilling,

HIGHLIGHTS

·    Exploration permits for Enable and McKellar received from the Ontario
Ministry of Mines.

 

·    FCMC now holds six exploration permits over properties of great
merit.

 

·    The area covered by valid exploration permits has expanded
significantly, encompassing nearly 200km² of land. Within this vast area, we
have identified numerous priority drill targets across each of our properties.
These targets hold immense potential for exploration and discovery.

 

Enable

The Enable property is transected by a regional structural contact with an
inferred extent of 5km, within the property, with proven mineralisation.
Historical showings on the property include Perch Lake reporting 1.85ppm Au.
FCM has validated that assay as well as several hundred metres away identified
outcrop with assays up to 7ppm Au and 80ppm Ag. Further work, initially
stripping is warranted.

 

McKellar

The ~12.5km² McKellar property only 25km from Marathon and adjacent to
highway I17 contains a plethora of historic showings including gold, silver
(Old Pic silver mine historical reports over 20oz Ag) a REE bearing diatreme
and importantly a >400m mineralised  trend, open along strike, containing
>4% zinc (Zn) As well as associated anomalies in lead and copper. Previous
work by Noranda postulated this anomalous structure was a potential VMS -
volcanic massive sulphide.

Marc J. Sale, CEO of FCM commented:

 "I am gratified and humbled that the relationship with the First Nations
with whom we interact has been recognised in the granting of these Permits.
Currently we now have six permits, along with three Memorandums of
Understanding (MoUs) and an Exploration agreement signed with four separate
First Nation groups. I would also like to extend my thanks to the staff of the
Ontario Ministry of Mines for their diligent work in issuing the permits.

 These permits will enable us to conduct focused exploration efforts, with
the ultimate aim of further refining delineating drill targets and commencing
drilling operations. The mutual respect and collaboration we have fostered
with the First Nations is of utmost importance to us, and we are honoured to
have made such significant progress across the majority of our portfolio."

 

Other currently active Permits include:

·    Sunbeam (two Permits), gold focus. Stripping and channel sampling
completed across thee zones of interest, results still outstanding for the
Sunbeam & Pettigrew areas.

·    Zigzag, hard rock lithium/critical metals. Channel sampling results
pending

·    Esa, predominately gold. Extensive soil sampling campaign across the
4.5km shear pending.

·    North Hemlo, gold base / battery metals. Exploration plan for
stripping on the Dead Otter Trend in progress.

 

 

 

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
 Ayub Bodi, Executive Director      AyubB@Firstclassmetalsplc.com (mailto:AyubB@Firstclassmetalsplc.com)    07860 598086

 

First Equity Limited

(Financial Adviser & Broker)

 

 Jonathan Brown     0207 3742212
 Jason Robertson    0207 3742212

 

First Class Metals PLC - Background

 

First Class Metals is focussed on exploration in Ontario, Canada which is
considered a top global destination for exploration with a robust and thriving
junior mineral exploration sector. Specifically, the Hemlo 'camp' is a proven
world class address for gold /VMS exploration. This geological terrane has
significant production, both base / precious metals and a prolific number of
exploration projects and numerous prospector's 'showings'.

 

 

 

 

 

 

 

 

 

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