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Sunday Roast-Alan Green, CEO Brand Communications UK #SVML #GBP #GGP #FCM #BZT #ELEG #BSFA #INC #SNOX #JLP

Sunday Roast-Alan Green, CEO Brand Communications UK #SVML #GBP #GGP #FCM #BZT #ELEG #BSFA #INC #SNOX #JLP

Alan Green covers First Class Metals #FCM, ONDO Insurtech #ONDO & Vinanz #BTC on this week’s Stockbox Research Talks

Alan Green covers First Class Metals #FCM, ONDO Insurtech #ONDO & Vinanz #BTC on this week’s Stockbox Research Talks

First Class Metals #FCM – New interactive investor website

First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK listed company focused on the discovery of economic metal deposits across its strategic exploration footprint in Ontario, Canada is pleased to announce the launch of our interactive investor website. For both existing and prospective shareholders, the new investor website brings all First Class Metals content into a single integrated platform to better inform and engage with investors and stakeholders, including:

·      Regulatory announcements

·      Reports

·      Presentations

·      Educational material

·      Interviews

·      Corporate research

The investor website also provides an interactive online experience allowing the First Class Metals stakeholders to comment on and ask the First Class Metals team questions via a portal which will be monitored and responded to in a timely manner.

How to sign up for the First Class Metals investor website:

1.   Visit firstclassmetalsplc.com

2.   Follow the prompts to sign up for an investor account

3.   Complete your account profile

James Knowles, Executive Chairman First Class Metals Commented:

“At First Class Metals, keeping our shareholders informed and engaged is central to our mission. The launch of our investor website marks a significant step in enhancing this communication, providing a platform where current and prospective investors can connect with us and gain a deeper understanding of our objectives.

The website will be packed with valuable video content, detailed information, and insights into our ongoing projects and future ambitions. We invite our stakeholders to explore the website and share their feedback as we continue to refine our communication efforts.”

Ends

Engage with us by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://fcm-l.investorhub.com/link/qy1oAr

For further information, please contact:

First Class Metals investor website

Sign up to the website to receive news and engage with the

management team

firstclassmetalsplc.com

James Knowles, Executive Chairman

Marc J Sale, CEO

JamesK@Firstclassmetalsplc.com

07488 362641

MarcS@Firstclassmetalsplc.com

07711 093532

Novum Securities Limited (Financial Adviser)

David Coffman/ George Duxberry

 www.novumsecurities.com

(0)20 7399 9400

Axis Capital Markets (Broker)

Lewis Jones/ Ben Tadd

Axcap247.com

(0) 203 026 0449

Subscribe to our news alert service: firstclassmetalsplc.com/auth/signup

First Class Metals #FCM – Dead Otter Gold Trend

First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada is pleased to provide an exploration update.

This update follows on from the news release of 24 July 2024 in which FCM announced the ‘upgrade’ of the Dead Otter trend within its 100% owned North Hemlo Property to a high-profile target. The planned stripping and channel sampling at three locations along the 3.7 km strike identified, has now been successfully completed.

EXPLORATION PROGRAMME HIGHLIGHTS:

  • Stripping and channel sampling have been completed at three locations along the Dead Otter trend
  • Extensive channel sampling at the 19gramme location.
  • 18 channels cut for 70 samples.
  • Channel samples are currently being analysed at a laboratory in Thunder Bay.
  • First assay results are expected within the month, with subsequent batches of additional results to be received over the coming weeks.  Further market updates will be provided as results are received, analysed and interpreted and verified if required.
  • Results of 25 total Fire assay of selected 2023 season pulps received
  • In addition to the channel sampling in August, 127 coarse residues from the highly successful 2022/23 sampling programs were submitted for Photon assay.

Marc J. Sale CEO First Class Metals Commented:

“The exploration work on the Dead Otter trend continues to deliver positive results, visually the channels cut show that the 19 grammer is potentially not an isolated high-grade occurrence. The anticipated results from the stripping / sampling will allow a decision to drill specific locations and to expand the footprint of the mineralised structure with additional stripping along strike.”

FURTHER INFORMATION

Dead Otter Trend

  • The Company has confirmed the presence of a discontinuous 3.7km long gold trend at Dead Otter (open along strike so potentially larger) in the south of the North Hemlo Property.
  • North Hemlo property covers ~90km² and contiguous with the OnGold property, 35km² and contains the GT Resources JV over West Pickle Lake 7km².
  • The Property is only 20km north of Barrick’s Hemlo 23 million ounce gold (“Au”) mine.
  • The structure forming the Dead Otter trend is considered to be subparallel to a district scale structure identified in the magnetics that has similarities to the structure hosting the Barrick Hemlo gold mine, see Figure 1; furthermore, the Dead Otter showing contains significant molybdenum, also a characteristic of the Hemlo mineralisation.
  • Visible gold has been observed in multiple grab samples from the Dead Otter trend, a grab sample reported 19.6g/t Au with a 13.6g/t Au sample in the near vicinity.
  • Exploration Permit covering the North Hemlo block, including the 3.7km gold trend at Dead Otter was granted in November 2023 and is valid for three years. The permit allows mechanical stripping and diamond core drilling, and a drilling operator has successfully reviewed site logistics and access for a diamond drill rig.
  • The Company believes that this work programme will be the last exploration step that should be required for delineation of actual drill hole locations.

Figure 1 showing the district setting with the vast Barrick Hemlo gold mine on the south limb and the Dead Otter trend on FCM’s 100% owned property containing the high grade ‘19gramme’ location.

North Hemlo Exploration Progress:

A field team, working from Manitouwadge spent five weeks supervising the clearing and then the channel sampling in three distinct locations on the Dead Otter trend.

An access trail was cleared to each area which was then stripped – the removal of the soil and vegetation (over burden). Then the bare rock was pressured washed before the geologist mapped and marked out the samples for diamond saw cutting.

At the 19 grammer, 10 separate channels were cut up to 3.1m for a total of 55 samples.

At the historic showing which reported 3.1 g/t gold (Au) and 0.59% molybdenum (Mo), three channels were cut for cumulative 5 samples.

At the 2.3g/t ‘showing’ 750m to the southeast a further 5 channels were cut for 10 samples. Trenches were cleared over the 2.3g/t location as well as 25m to the east and west.

See figure 2, below for relative locations of channels

Figure 2, showing the Dead Otter trend with details of the location of the channels and samples

Channel Sampling Process Detailed

Channels samples are taken by cutting two parallel diamond sawn ‘groves’ in the rock up to 4cm deep and 4cm wide. The rock between the cut grooves is then chipped out bagged, see figures 3 to 9 for a sequential account of the stripping / sampling process.

The programmes were extended at the 19 gramme location with a significant increase in the number of samples taken, in line with previous announcements of the expanded stripping programme.

Figure 3 initial stages of ‘stripping’: mechanical removal of overburden

Figure 4 overburden removed, bare rock – outcrop revealed

Figure 5 washing off the soil to clean outcrop

Figure 6 The cleaned outcrop is mapped and ‘marked-up’ for cutting samples

Figure 7 cutting samples with diamond saw.

Figure 8 showing two parallel cuts for sampling

Figure 9 collecting and bagging samples

The results from 25 ‘total pulp assay’ whereby up to 500g was assayed, as compared to the standard 50g Fire Assay, have been received. The results validate and, in some cases, have enhanced the original results.  These pulps were submitted as FCM believes there is the potential for ‘coarse gold’ at Dead Otter.

Whilst the ‘total pulp’ assays confirm the previous assays the coarse gold situation is still not addressed. Hence over 100 samples from the 2022/23 programme were submitted for Photon Assay, these results are anticipated shortly.

The initial results from the completed stripping programme are expected within the month with further announcements as deemed appropriate. Depending on the findings of the Photon Assay results selected samples will be re assayed using this methodology.

For Further Information:

Engage with us by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor hub here:

https://fcm-l.investorhub.com/link/MP7o0P

For further information, please contact:

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

Novum Securities Limited (Financial Adviser)

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

Axis Capital Markets (Broker)

Lewis Jones/ Ben Tadd  Axcap247.com (0) 203 026 0449

NOTES TO EDITORS

Qualified Person

The technical disclosures contained in this announcement have been drafted in line with the  Canadian Institute of Mining, Metallurgy and Petroleum standards and guidelines and approved by Marc J. Sale, who has more than 30years in the gold exploration industry and is considered a Qualified person owing to his status as a Fellow of the Australian Institute of Mining and Metallurgy.

First Class Metals PLC – Background

First Class Metals listed on the LSE in July 2022 and is focused on metals 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 flown 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 known assay 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 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% Li2O. Zigzag was drilled prior to Christmas 2023 and results have now been released.

The significant potential of the properties for precious, base and battery metals relates to ‘nearology’, since 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).

Forward Looking Statements

Certain statements in this announcement may contain forward-looking statements which are based on the Company’s expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. Such forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ‘aim’, ‘anticipate’, ‘target’, ‘expect’, ‘estimate’, ‘intend’, ‘plan’, ‘goal’, ‘believe’, or other words of similar meaning. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

First Class Metals #FCM – Total Voting Rights

In accordance with the FCA’s Disclosure Guidance and Transparency Rules, as at 30 August 2024, the Company’s issued share capital consists of 97,653,420 Ordinary Shares of £0.001, each with one voting right. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 97,653,420.

The above figure of 97,653,420 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

Ends

For further information, please contact:

James Knowles, Executive Chairman

JamesK@Firstclassmetalsplc.com

07488 362641

Marc J Sale, CEO

MarcS@Firstclassmetalsplc.com

07711 093532

 

Novum Securities Limited (Financial Adviser)

David Coffman / George Duxberry

 www.novumsecurities.com

(0)20 7399 9400

 

Axis Capital Markets (Broker)

Lewis Jones / Ben Tadd

 Axcap247.com

(0) 203 026 0449

 

 

NOTES TO EDITORS

First Class Metals PLC – Background

First Class Metals listed on the LSE in July 2022 and is focused on metals 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 flown 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 known assay 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 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% Li2O. Zigzag was drilled prior to Christmas 2023 and results have now been released.

The significant potential of the properties for precious, base and battery metals relates to ‘nearology’, since 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).

First Class Metals #FCM – Total Voting Rights

In accordance with the FCA’s Disclosure Guidance and Transparency Rules, as at 31 July 2024, the Company’s issued share capital consists of 91,741,361 Ordinary Shares of £0.001, each with one voting right. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 91,741,361.

The above figure of 91,741,361 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules. 

For further information, please contact: 

James Knowles, Executive Chairman

JamesK@Firstclassmetalsplc.com

07488 362641

Marc J Sale, CEO

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 metals 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 flown 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 known assay 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 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% Li2O. Zigzag was drilled prior to Christmas 2023 and results have now been released.

The significant potential of the properties for precious, base and battery metals relates to ‘nearology’, since 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).

First Class Metals #FCM – Major Shareholding

TR-1: Standard form for notification of major holdings. First Class Metals #FCM was notified by Graeme Paton that he now owns 3,200,000 shares (3.488% of the company).

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii:

First Class Metals PLC

1b. Please indicate if the issuer is a non-UK issuer  (please mark with an “X” if appropriate)

Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an “X”)

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify) iii:

3. Details of person subject to the notification obligation iv

Name

 Graeme Paton

City and country of registered office (if applicable)

N/A

4. Full name of shareholder(s) (if different from 3.) v

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached vi:

22/07/2024

6. Date on which issuer notified (DD/MM/YYYY):

25/07/2024

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer (8.A + 8.B) vii

Resulting situation on the date on which threshold was crossed or reached

3.488%

3.488%

3,200,000

Position of previous notification (if

applicable)

First Class Metals #FCM – Accelerated Exploration at 3.7km Gold Trend in North Hemlo

First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK listed company focused on the discovery of economic metal deposits across its strategic exploration footprint in Ontario, Canada is pleased to provide an exploration update.

Following a detailed technical review, the Company has upgraded the Dead Otter trend (“Dead Otter”) within its 100% owned North Hemlo Property to high profile target status and has immediately launched the next stage and a potentially significant impact exploration programme. 

Historic Dead Otter Exploration Highlights included:

·    The Company has confirmed the presence of a discontinuous 3.7km long gold trend at Dead Otter (open along strike so potentially larger) in the south of the North Hemlo Property which is located 23km north of Barrick’s Hemlo 123 million ounce gold (“Au”) mine (see Figure 1 below).

·    The structure forming the Dead Otter trend is considered to be subparallel to a district scale structure identified in the magnetics that has similarities to the structure hosting the Barrick Hemlo gold mine. 

·    Visible gold has been observed in multiple grab samples from the Dead Otter trend, a grab sample reported 19.6g/t gold (Au) with a 13.6g/t gold sample in the near vicinity.

·    Gold has been ‘panned’ from pulverised grabs taken from the structure.

·    An Exploration Permit covering the 3.7km gold trend at Dead Otter was granted in November 2023 and is valid for three years. The permit allows mechanical stripping and diamond core drilling, and a drilling operator has successfully reviewed site logistics and access for a diamond drill rig.

Next Exploration Programme Highlights:

·    As outlined above previous exploration results were considered by the Company’s technical team to be particularly significant due to the robust structure, tenure of gold reported and similarities to other mineralisation in the area. Therefore, the decision was taken to accelerate exploration work at Dead Otter which is further outlined below.

·    Emerald Geological Services (‘EGS’), has been commissioned to conduct a stripping and channel sampling across several high priority targets along the Dead Otter Trend, which will provide crucial information to vector-in drilling at this key target zone.

·    The EGS crew is now onsite, and access for stripping has started which will focus in particular on the area where previous exploration yielded gold sampling assay grades up to 19.6g/t.

·    The Company believes that this work programme will be the last exploration step that should be required for delineation of drill targets. The entire field programme is expected to take approximately four weeks to complete and further information will be provided to the market as soon as practicable.

·    In addition, selected samples from historical work demonstrating the potential for ‘coarse gold’ at Dead Otter, have been submitted to the laboratory for re-assay. 

Marc J. Sale CEO First Class Metals Commented:

“The continued exploration work on the Dead Otter trend is potentially transformational insomuch that positive results have the ability to catapult the structure along the Dead Otter Trend into ‘new discovery’ status.

The North Hemlo property and its gold endowment forms the spearhead of our current exploration campaign. 

Sawn channels, the work we are proposing, are comparable to horizontal drill holes and can be utilised in resource calculations. The work is exciting as it could significantly elevate the importance of this substantial gold bearing structure which is now one of the high-profile targets within the Company’s portfolio of strategic exploration interests.”

North Hemlo Exploration Progress:

A field team, working from Manitouwadge, is focussed on the Dead Otter Trend. Past exploration by FCM was focussed at the historic showing which reported 3.1 g/t gold (Au) and 0.59% molybdenum (Mo), reconnaissance subsequently identified the extension of the trend to the south east where, over 3km along strike a 19.6ppm Au sample was reported, this is thought to be the highest grab samples recorded in the north limb.

The structure forming the Dead Otter trend is considered to be subparallel to a district scale structure identified in the magnetics that has similarities to the structure hosting the Barrick Hemlo gold mine, see Figure 1.  Furthermore, the Dead Otter showing contains significant molybdenum, also a characteristic of the Hemlo mineralisation.

A map of a city Description automatically generated

Figure 1 showing the district setting with the vast Barrick Hemlo gold mine on the south limb and the Dead Otter trend on FCM’s 100% owned property containing the high grade ’19 grammer’ location.

Further exploration validated this high-grade sample as well as identifying other outcrop along strike that reported multi gramme gold values. Whilst the trend is not currently considered continuous as the outcrop is intermittent, the geological structure, based on the geophysics and topographic evidence is considered robust. The structure occupies the contact between the mafic volcanic succession and the Dotted Lake pluton. Pathfinder elements such as arsenic and antimony indicates the trend is anomalous along the known outcrop, giving further support to the robust nature of the structure and its potential to contain additional gold occurrences.

The current work: ‘stripping’ off of the vegetation to reveal the underlying outcrop will focus on the Dead Otter showing, the ’19 grammer’ then possibly two other locations along the strike, see Figure 2

Figure 2 showing the multiple multi-gramme gold assays as well as the historic Dead Otter showing. Also note the proposed areas for stripping.

The Company’s stated objective in the 2023 field season to advance the Dead Otter Trend to drill ready status the stripping now taking place at several points along the ‘trend’ will define actual drill locations.

There is compelling evidence to suggest that there is a coarse gold issue across predominantly the norther sector of the Dead Otter Trend. All grab samples collected specifically along the favourable ‘horizon’ in the area of the old showing were scrutinised for visible gold. A similar exercise was undertaken in the 19 gramme sector, see Figure 3

A person in a vest and hat standing next to a rock Description automatically generated

Figure 3 showing the location of the 19.6g/t sample in the southeast of the Dead Otter trend.

Gold has been sighted in several samples, see Figure 4. These samples subsequently did not report significant gold values in the Fire Assay, further suggesting a coarse gold issue.

Figure 4-Visible gold in a second sample in a photomicrograph of rock from the Dead Otter Trend

Furthermore, rock samples collected randomly from the areas of sampling were ‘dollied’ then panned-off. A number of gold flecks were seen in the ‘tail’ in the panning dish This is significant in not only proving the presence of gold in the Dead Otter Trend but also signifies that there is coarse gold in the system, the gold one would assume therefore is ‘free-milling’.

FCM has now submitted a selection of samples to the laboratory and the whole residue, up to 500g will be analysed.

FCM believes that the Dead Otter trend represents one of the most exciting recent discoveries in the Hemlo area. Not only is there a robust structure that has had little systematic exploration historically, but the work also completed to date by FCM continues to increase its potential. Whilst the coarse gold is an issue for evaluation, the basic scenario of a gold bearing structure of several kilometres strike extent is valid. Furthermore, it has never been drilled. The stripping currently underway and channel sampling to follow has the focus to define drill targets / coordinates as well and confirming the validity of the Dead Otter system.

1 Barrick Gold Corporation – Operations – Hemlo

 

For Further Information:

For further information, please contact:

James Knowles, Executive Chair

JamesK@Firstclassmetalsplc.com

07488 362641

Marc J Sale, CEO

MarcS@Firstclassmetalsplc.com

07711 093532

Novum Securities Limited (Financial Adviser)

David Coffman/ George Duxberry

 www.novumsecurities.com

(0)20 7399 9400

 

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