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
2 February
2024
Director
Change
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 Sunbeam and Zigzag land
holdings, announces that Ayub Bodi ceases
to be a director with immediate effect.
ENDS
For further
information, please contact:
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 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 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 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
mineral 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% Li¬2O. Zigzag was drilled prior to
Christmas 2023 and results are pending.
The significant potential of the
properties for precious, base and battery metals relates to
'nearology', inasmuch as 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).