First Class Metals #FCM Update on REE Potential of the McKellar Property

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 land holding is pleased to provide an update on exploration activities in respect to the Rare Earth Elements (“REE”) potential of the McKellar claim block.

 Highlights

-Historical data review of the REE potential of the McKellar property and commencement of prospecting on the McKellar Creek Diatreme McKellar

 FCM is pleased to announce that exploration of the McKellar diatreme has been initiated and rock samples have been collected for assay.

The McKellar property, comprising 58 claims covers 11km² is and it is situated in prime geological terrain within the Coldwell complex. Located to the west of the Generation Mining’s Palladium Project, McKellar is roughly 25 kilometres from the town of Marathon, the main service centre for Barrick’s Hemlo mine.

The property contains known ‘showings’ (“samples”) for gold, silver, and base metals as well as a diatreme with reported anomalous REE.

Historical exploration on the property includes not only the diatreme but other significant occurrences, such as the drill hole on the Gold Bar Lake prospect reporting over 1% Cu, 6% Zn as well as 0.5g/t Au and 60g/t Ag. Elsewhere on the property samples of 6,419ppm Mo (molybdenum) and 4,400ppm Zn (Zinc) are reported. Whilst the small scale historic Little Pic silver mine produced ‘ore’ containing in various samples 618g/t Ag and over 7% Pb and 32% Zn, see Figure 1.

There are also a significant number of showings within the vicinity of the McKellar property, including the Prairie River West showing which returned 1.13g/t Au and 45g/t Ag, as well as the Marhill Prospect to the west with values up to 18.5g/t Ag.  Importantly these showings are hosted in the mafic to intermediate metavolcanics which are identified in the western extension of the property: nearology and vector.

Although it is primarily the high precious and base metal values in the historic showings that makes McKellar stand out, the presence of a relatively underexplored rare earth hosting diatreme in the south of the property has potential significance implications.

The diatreme occupies a topographic low and occurs within a north trending linear stricture. The breccia may have been emplaced within a shear or fault zone, however, geologic data supporting this possibility are lacking.

Historically general prospecting, geological mapping and rock sampling of the diatreme was focussed on discerning whether gold, platinum and palladium were associated with the diatreme structure and what REE the diatreme carried.

In 2013 prospecting, geological mapping and rock sampling of the diatreme was performed by Russel Renner, 5 bedrock grab samples were taken and assayed, results of which and other assayed samples from the diatreme area are included in the table below.

 In his 2013 assessment report¹, Renner suggested that if interest in REE was to increase, and the Prairie Lake intrusion and Dead Horse Lake diatremes were to come back into the limelight and create enthusiasm for the area, then the McKellar Creek diatreme would certainly have some potential to become part of the revived interest in REE in the Coldwell area.

^1– 20014099.pdf (gov.on.ca)

FCM mobilised a field crew to explore as a ‘first pass’ review of the McKellar diatreme area with the intention of identifying and re sampling the outcrop,. During a brief campaign the team collected 10 rock samples, of which 9 were grab samples of outcrop in the vicinity of an identified drill hole and the other a ‘float’ / boulder sample in a creek immediately to the south west..  The photo (Figure 2) indicates early success in the reconnaissance with distinct diatreme breccia being encountered and sampled.

 Figure 2-Diatreme Breccia sampled from the McKellar Diatreme

Marc J. Sale CEO First Class Metals said “this month we have returned field crews to the projects after a brief hiatus, I am particularly pleased we have started to explore the REE potential at McKellar. The Autumn campaign generally plans to build on the visual encouragement and preliminary assay results from samples collected in the first pass across our properties earlier this year. Work completed to date on key properties has given us increased confidence to push forward with further exploration, vectoring us in to now what are becoming priority targets”.