First Class Metals plc said it had made significant advancements in field activities and supporting technical developments for its four projects in northern Ontario, Canada.
PHOTON
Field work is now complete at the Coco East property which has potential for precious and base metals.
The company interpreted the geophysical anomaly in the northern sector as a potential eastern continuation of the ‘zinc belt’ from the Winston Lake area.
A total 85 samples were taken from Nuinsco diamond core drilling at the Sunbeam gold project and sent for assay.
FCM also took 25 samples for re-assay using the Photon assay method from the Dead Otter trend, where previous assays had not reflected the “apparent potential to report significant gold values”.
“There is possibly a ‘coarse gold issue’ in the northern sector,” added the company.
“Additionally, the presence of silver and gold telluride (calaverite) further suggests that the assays are not reflecting the true gold content of the quartz / shear.
“It is anticipated that this new method of analysis will enhance the potential of the Dead Otter trend and help focus [the] stripping programme planned this field season.”
FCM has also received a three-year exploration permit for the Zigzag lithium property which allows stripping and further drilling on the main zone identified by 2023 prospecting, channel sampling and drilling.
The company said that the zone remained open in all directions, including down dip, and that there was the possibility of a sub-parallel or spur structure to the south.
Chief executive Marc Sale added that FCM has supplied further information to the data room and that a further company had asked to review specific properties.