TIDMFCM
RNS Number : 8330U
First Class Metals PLC
28 November 2023
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
28(th) November 2023
Zigzag lithium-high grade channel samples
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 a further, significant, update on the progress on the
Zigzag property which is currently focussed on the lithium and
tantalum potential.
Highlights:
-- Channel 7 2.36% lithium ( Li(2) O ) over 5.5m
including 2.5m at 3.44% Li(2) O.
-- Channel sample results identify a >1% Li(2) O zone on the
western portion of the 'core' 400m zone. Significant number of
channel samples return more than >1% Li(2) O.
-- Prospecting identifies mineralisation in a subparallel zone, assays pending.
Marc J. Sale First Class Metals CEO commented:
"The results from the channel samples have vindicated our
enthusiasm to advance the potential of this property. The tenure of
the spodumene and therefore the lithium reporting in the central
sector of the property gives increased confidence in the
prospectivity over the strike extensions. We are eagerly advancing
the planning for drilling now the funds have been secured."
Figure 1 showing the Zigzag property with the recent sampling,
both grabs and channels, focussing on the central portion of the
claim block.
The channel sampling was based on the visually encouraging
results from the prospecting and associated grab samples.
The complete table of the grab samples was reported in a
previous news release, however the 10 best 'grabs' are reproduced
below.
Sample_No. Caesium Gallium Lithium Rubidium Tantalum
Cs_ppm Ga_ppm Li_ppm Rb_ppm Ta_ppm
F006543 92.6 107 17000 820 75.2
-------- -------- -------- --------- ---------
F006545 128 101 16500 1190 115
-------- -------- -------- --------- ---------
F006549 77 118 21200 302 80.6
-------- -------- -------- --------- ---------
F006573 85 112 17800 536 179
-------- -------- -------- --------- ---------
F006574 102 152 29700 404 57.3
-------- -------- -------- --------- ---------
F006576 81.7 124 22300 514 467
-------- -------- -------- --------- ---------
F006580 70 113 18500 650 145
-------- -------- -------- --------- ---------
F006583 36.5 108 20100 255 235
-------- -------- -------- --------- ---------
F006586 44.5 117 18300 846 724
-------- -------- -------- --------- ---------
F006592 66.9 153 27500 587 54.3
-------- -------- -------- --------- ---------
Table 1 , showing the 10 highest grab samples along a 400m
'core' zone.
Nine channels were cut with lengths of under 5m to over 10m,
channel lengths were usually controlled by overburden and not by
diminished outcrop. A total of 80 samples were submitted to the
laboratory for analysis, these included, where exposed not only the
pegmatite but one, one metre sample in the host rock, which is in
general mafic volcanics to the north and granitic rocks to the
south.
The samples can therefore be easily segregated into four broad
categories: mafic, pegmatitic, granitic pegmatites and granite.
Figure 2 showing the location of the channels relative to the
'core 400m' zone.
The results from the channels are very encouraging. It must be
stressed that only hand stripping of vegetation was undertaken and
often, exemplified by channels 5 and 7, the outcrop persisted but
the vegetation cover was too onerous to be removed by hand.
Accordingly it is felt that with mechanical stripping many of these
channels could be extended. Additionally it is also likely that
'gaps' in the outcrop continuity might also be exposed as being
pegmatite when exposed with mechanical stripping. The current
permit allows both stripping and drilling.
The results have not only vindicated the grab samples in respect
to the lithium oxide content but also highlighted again the
presence of other important, critical minerals such as tantalum,
gallium and rubidium.
Channel Length Lithium Tantalum Gallium Rubidium
(metres) (Li20%) (Ta205) (Ga) ppm (Rb20) ppm
ppm
========= ========== ========= ========= ========== ============
3 2.4 0.81 170 80 2000
---------- --------- --------- ---------- ------------
Includes 1.00 1.31 170 90 2920
---------- --------- --------- ---------- ------------
3 3.1 1.52 60 90 1820
---------- --------- --------- ---------- ------------
Includes 0.9 2.54 100 110 2550
---------- --------- --------- ---------- ------------
and 0.5 2.05 40 100 950
---------- --------- --------- ---------- ------------
4 1.8 1.85 220 90 1740
---------- --------- --------- ---------- ------------
5 2.2 0.96 130 90 1280
---------- --------- --------- ---------- ------------
Includes 0.8 1.39 100 100 940
---------- --------- --------- ---------- ------------
6 2.00 1.96 160 110 1170
---------- --------- --------- ---------- ------------
7 5.5 2.35 150 120 1740
---------- --------- --------- ---------- ------------
Includes 2.5 3.43 170 140 1270
---------- --------- --------- ---------- ------------
8 1.8 1.03 110 80 2070
---------- --------- --------- ---------- ------------
Includes 0.5 1.43 90 90 1050
---------- --------- --------- ---------- ------------
9 1.9 1.15 290 80 1400
---------- --------- --------- ---------- ------------
Includes 0.6 2.19 500 80 1010
---------- --------- --------- ---------- ------------
9 3.7 1.14 150 100 1290
---------- --------- --------- ---------- ------------
Includes 1.9 1.41 160 100 1710
---------- --------- --------- ---------- ------------
Photo 1 showing the extent of outcrop exposed by hand stripping.
Also not the change in rock type from mafic volcanics (closest) to
granitic-pegmatite.
Hand stripping and channel sampling does not allow continuous
sampling of the structure as it is obscured by soil, moss and other
vegetation. It is believed that once mechanical stripping is
undertaken the continuity of outcrops will be further enhanced.
Photo 2 showing sample of the spodumene rich pegmatite
Further prospecting and exploration
Prospecting and soil sample lines were conducted to the south of
the 'main' pegmatite zone.
A subparallel structure has been identified to the south. Sample
results are pending but visual evidence suggest a second pegmatite
or a splay may exist to the south of the main zone which has been
the current focus of exploration.
For further information, please contact:
James Knowles, Executive
Chairman JamesK@Firstclassmetalsplc.com 07488 362641
Marc J Sale, CEO MarcS@Firstclassmetalsplc.com 07711 093532
-------------------------------- -------------
Ayub Bodi, Executive Director 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 has a robust and thriving junior mineral exploration sector.
Specifically, t he 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'.
FCM currently holds 100% ownership of seven claim blocks
covering over 180km(2) along a 150km strike of the
Hemlo-Schreiber-Dayohessarah greenstone belt which also contains
the >23M oz shear hosted Hemlo gold mine operated by Barrick
Gold. Late last year FCM completed the option to purchase the
historical high grade (gold) Sunbeam past producing mine
The significant potential of the properties for precious, base
and battery metals relate to: 'nearology' insomuch that all
properties lie close to identified mineral anomalism, for example
Palladium One's RJ and Smoke Lake nickel projects are close to the
FCM's West Pickle Lake drill proven Ni-Cu project. This also
demonstrates the second critical asset the properties hold: vector,
anomalies, be they geological, geochemical, or geophysical that
have demonstrated mineral potential extend on to FCM's
properties.
The inferred shear on the Esa property is being explored by
neighbours both to the west and east where it crosses into their
properties. Furthermore, the properties have not been extensively
explored either historically or more contemporaneously. This is
attributable to the overall lack of outcrop. However, modern
exploration techniques are better able to 'see through' the ground
cover and to identify anomalies.
Forward Looking Statements
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performance, anticipated events or trends and other matters that
are not historical facts. Such forward-looking statements can be
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or current facts. Forward-looking statements sometimes use words
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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,
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END
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