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Alan Green covers Blencowe Resources #BRES, Altona Rare Earths #REE & Oxford Cannabinoid Technologies #OCTP on this week’s Stockbox Research Talks

Alan Green covers Blencowe Resources #BRES, Altona Rare Earths #REE & Oxford Cannabinoid Technologies #OCTP on this week’s Stockbox Research Talks

Alan Green covers Acuity Risk Management #ACRM, Kondor AI #KNDR & European Green Transition #EGT on this week’s Stockbox Research Talks

Alan Green covers Acuity Risk Management #ACRM, Kondor AI #KNDR & European Green Transition #EGT on this week’s Stockbox Research Talks

Alan Green covers Neo Energy Metals #NEO, Fulcrum Metals #FMET, Aquis Exchange #AQX & Bidstack #BIDS on this week’s Stockbox Research Talks

Alan Green covers Neo Energy Metals #NEO, Fulcrum Metals #FMET, Aquis Exchange #AQX & the Bidstack #BIDS debacle on this week’s Stockbox Research Talks

Alan Green covers Forum Energy Metals #FMC , Golden Metal Resources #GMET, Ondo Insurtech #ONDO & Cadence Minerals #KDNC on this week’s Stockbox Research Talks

Alan Green covers Forum Energy Metals #FMC , Golden Metal Resources #GMET, Ondo Insurtech #ONDO & Cadence Minerals #KDNC on this week’s Stockbox Research Talks

Alan Green covers Marula Mining #MARU , Voyager Life #VOY & Truspine Technologies #TSP on this week’s Stockbox Research Talks

Alan Green covers Marula Mining #MARU , Voyager Life #VOY & Truspine Technologies #TSP on this week’s Stockbox Research Talks

Alan Green covers Valereum #VLRM , Kavango Resources #KAV, Cadence Minerals #KDNC & VVV Resources #VVV on this week’s Stockbox Research Talks

Alan Green covers Valereum #VLRM , Kavango Resources #KAV, Cadence Minerals #KDNC & VVV Resources #VVV on this week’s Stockbox Research Talks

Alan Green covers Vinanz #BTC , Cadence Minerals #KDNC & East Star Resources #EST on this week’s Stockbox Research Talks

Alan Green covers Vinanz #BTC , Cadence Minerals #KDNC & East Star Resources #EST on this week’s Stockbox Research Talks

 

#FCM First Class Metals PLC – Zigzag Drilling Results

First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK listed metals exploration company seeking economic metal discoveries across its extensive Canadian Schreiber-Hemlo, Sunbeam and Zigzag land holdings is delighted to announce the results of an inaugural drilling programme on the Company’s Zigzag Property, (the “Property”) located in the Seymour-Falcon corridor in northwestern Ontario, Canada.

HIGHLIGHTS

·      Assay results from the recent drill programme are in line with and exceed the channel sample results.

 

Selected highlights include:

ZIG-23-01    4.3m @ 1.65% Lithium (Li20) including 1m at 2.93%

ZIG-23-02    5.0m @ 1.5% Li20 including 0.2m @ 5.19% and 5.75m @ 0.21% Rb20

ZIG-23-07    6.5m @ 1.09% Li20 including 0.5m @ 2.76%

 

·      Elevated grades of several key technology critical metals present including: gallium (Ga), rubidium (Rb20) , caesium (Ca) and tantalum (Ta).

 

·      Significant upside for the expansion of the geochemical envelope along strike in both directions and down dip.

 

·      Initial geochemical results indicate the probable existence of a second structure.

 

·      An Exploration Permit to allow additional stripping and drilling on the Property is being drafted.

 

 

Marc J Sale Chief Executive Officer Commented- The results from our first drill programme at Zigzag are first class and have not only confirmed our belief in the potential of the ‘core zone’, but have also significantly exceeded our expectations for the Property. The associated critical metals identified have added another dimension to the Property’s potential.  Obviously more work is required specifically along strike and further exploration of the southern structure, hence we are to initiate discussion regarding a new Exploration Permit.

Zigzag is growing as a significant lithium and critical metal play in this rapidly emerging pegmatite district.”

 

A focussed drill programme of under 500m in 10 NQ diamond drillholes was completed in late December and all the geochemical assay results are now available. Nine of the holes were targeted at the pegmatite with two ‘step-back’ holes and a 10th being drilled as a scissor. All targeted holes successfully intersected the pegmatite.

The drilling has vindicated the channel sampling as well as extended the geochemical and geological knowledge of the structure hosting the pegmatite, (see Map 1). The most easterly and westerly holes indicate the structure remains open along strike and importantly the successful step-back holes show the structure continues and remains open at depth.

The Company will now look to initiate the next most appropriate plan of exploration which will be focussed to extend strike and delineate the recently discovered southern structure.

Map 1 showing the drill traces of the 10 holes drilled as well as their locations relative to the previous channel sampling.

 

Significant intersections for the drill programme appear in table 1, see below

Drill Hole

Metal

Depth From

Width

Grade

ZIG-23-01

Li₂O

12.7m

4.3m

1.65%

incl.

1.0m

2.93%

Rb₂O

11.7m

5.3m

0.21%

ZIG-23-02

Li₂O

15.0m

5.0m

1.5%

incl.

0.2m

5.19%

Rb₂O

14.25m

5.75m

0.21%

incl.

0.3m

0.54%

Cs

14.25m

3.25m

132 ppm

incl.

0.25m

430 ppm

Ta

14.0m

6.8m

90 ppm

incl.

0.2m

235 ppm

Ga

15.5m

0.2m

144 ppm

ZIG-23-03

Li₂O

14.7m

0.75m

2.1%

Rb₂O

12.6m

2.1m

0.16%

Cs

12.0m

5.0m

151 ppm

incl.

0.45m

480 ppm

Ta

12.6m

3.9m

164 ppm

incl.

0.45m

624 ppm

Ga

21.9m

0.25m

127 ppm

and

ZIG-23-03

Li₂O

28.4m

1.6m

0.46%

Rb₂O

27.8m

2.2m

0.17%

ZIG-23-04

Li₂O

20.0m

1.6m

0.79%

Rb₂O

20.0m

1.6m

0.21%

Ta

 15.3m

7.8m

165 ppm

 incl.

1.0m

347 ppm

ZIG-23-05

Li₂O

7.6m

6.0m

1.13%

incl.

1.0m

2.17%

Rb₂O

5.7m

3.8m

0.16%

Ta

4.8m

9.9m

167 ppm

incl.

0.4m

401 ppm

ZIG-23-06

Li₂O

28.8m

2.2m

1.09%

incl.

0.3m

2.26%

Rb₂O

28.8m

2.2m

0.19%

ZIG-23-07

Li₂O

9.9m

6.5m

1.09%

incl.

0.5m

2.76%

Rb₂O

10.4m

6.6m

0.21%

incl.

1.0m

0.41%

Cs

13.0m

4.0m

126 ppm

Ta

9.0m

7.4m

131 ppm

incl.

0.6m

177 ppm

ZIG-23-08

Li₂O

65.5m

3.0m

1.28%

Rb₂O

65.5m

3.4m

0.11%

Ga

65.5m

3.0m

98 ppm

incl

1.0m

114 ppm

ZIG-23-09

Li₂O

47.25m

4.75m

0.52%

incl.

0.8m

1.06%

Rb₂O

47.25m

4.75m

0.14%

 

Table 1 assays from the (nine) hole drill programme at Zigzag, every hole had reportable intersections of Li₂O with significant ‘credits’ from the accessory critical elements / metals, specifically rubidium oxide, Rb₂O.

 

Map 2 showing the relative position of the ‘core’ drill area and the soil sample lines as well as the geochemistry indicating the potential for a second subparallel structure to the south.

The combined geochemical data that the initial grab samples (RNS 31 October 2023), the subsequent channel sampling programme (RNS 28 November 2023) and the recent MMI soil survey (RNS 7 February 2024) support the belief that the ‘core 400m zone’ contains a significant structure of >1% Li₂O and is open along strike. As previously reported, both the most eastern and western holes of the recent drilling programme intersected pegmatite. The soil sample results further suggest that the mineralisation is open in both directions.

Furthermore, there is strong geochemical support for a sub parallel trend about 200m to the south of the Main Zone. Additional work is needed to expand and confirm the anomalism identified. As well follow up sampling is required to confirm the presence of a possible third trend currently identified in anomalous rare element results in grab samples.

 

Critical Technology Metals @ Zigzag

While the focus of the project remains on the lithium component, the presence of elevated levels of Rb₂O (peak 0.54% over 0.3m within interval of 5.75m @ 0.21% (2100 g/t) in hole ZIG-23-02), Caesium (peak 480 g/t over 0.45m within interval of 5.00m @ 151 g/t in hole ZIG-23-03), Gallium, and Tantalum (peak 624 g/t over 0.45m within interval of 164g/t over 3.9m in hole ZIG-23-03-03) are potentially a significant ‘credit’ to the metallurgy of any resource identified.

These speciality metals have been classified as 1 & 2 ‘Critical Metals’ by the USA and Canadian Governments, highlighting their significance usage in modern technology due to their crucial role in various electronic, semi-conductor, and military hardware. Currently China dominates world production and supply of all these elements.

Despite the limited market for specialty metals, it is noteworthy that Rubidium has recently demonstrated a strong price performance, with trading prices exceeding $3100 per ounce on the Shanghai Metals Market3. Recognizing the potential economic benefits and value-added by these specialty technology metals, First Class intends to conduct further investigations into their possibilities and explore their impact on the overall value of the project.

 

https://www.usgs.gov/news/national-news-release/us-geological-survey-releases-2022-list-critical-minerals

2 https://www.canada.ca/en/campaign/critical-minerals-in-canada/critical-minerals-an-opportunity-for-canada.html

3https://www.metal.com/Other-Minor-Metals/202012250003

 

 

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

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 30 years 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.

Alan Green covers Great Southern Copper #GSCU, Anglesey Mining #AYM & Nostra Terra Oil & Gas #NTOG on this week’s Stockbox Research Talks

Alan Green covers Great Southern Copper #GSCU, Anglesey Mining #AYM & Nostra Terra Oil & Gas #NTOG on this week’s Stockbox Research Talks

#FCM First Class Metals Plc – Share Placing

First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK listed metals exploration company seeking economic metal discoveries across its extensive Canadian Schreiber-Hemlo, Sunbeam and Zigzag land holdings, is pleased to announce the completion of a private placing of a total of 3,700,000 ordinary shares of 0.1p each (“Ordinary Shares”) at a price of 4.5p (the “Placing Shares”) with a single existing private investor (“Investor”) raising £166,500 (the “Placing”).

The Placing price of 4.5p represents an 10% premium to the middle market price of Ordinary Shares at the close of business 21 February 2024

Director’s-Stock Lending Agreement

The Company does not presently have sufficient headroom to enable the issue and admission of the Placing Shares which are required to be issued pursuant to the Placing without the production of an FCA approved prospectus. The Company is therefore proposing that the Executive Chairman, James Knowles, transfers to the Company by way of a loan such number of Ordinary Shares held by Mr Knowles as are equal to, in aggregate, to the Placing Shares within the terms of the existing share loan agreement (the “Share Lending Agreement”), to facilitate the placing of the Placing Shares by the Company. This loan involves no consideration being paid or security granted to James Knowles.

The transfer of the Placing Shares to the Investor is expected to be completed on or around 29 February 2024.

The Share Lending Agreement provides for the allotment of an aggregate of 3,700,000 new Ordinary Shares to James Knowles by 30 June 2024 to replace the shares loaned under the terms of the Share Lending Agreement. Application will be made to the LSE and FCA for the admission of the Ordinary Shares to be issued to Mr Knowles at the appropriate time.

No further fees over and above the amount charged by the directors in the announcement of the 24 November 2023 will be paid.

 

Related Party Transaction

James Knowles is a director of the Company. The Share Lending Agreement is considered to be a material related party transaction (the “Related Party Transaction”).

Marc Sale, Marc Bamber and Andrew Williamson, being the independent directors for the purpose of this Related Party Transaction consider that the terms and conditions are fair and reasonable insofar as the shareholders of the Company are concerned.

 

Total Voting Rights

The total number of voting rights in the Company remains unchanged. The figure of 82,045,729 may be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.

 

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

 

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