First Class Metals Ltd (FCM) has expanded its flagship Hemlo North gold-base metal project and begun a key technical study in the Hemlo – Harte region, Ontario.
TRENDS
The company staked a further 15 new mining cell claims contiguous to the existing project, expanding the asset by 3.7% to 86.62km2.
Telluris Consulting will conduct a structural and alteration study of FCM’s projects in the region to identify potential structural trends in areas of overburden enabling more focused and efficient exploration.
FCM is also progressing its listing prospectus ahead of the targeted listing date in late Q4 2021.
Preparation of a technical competent persons report has started with site visits during August and September 2021 across North Hemlo, Esa, McKellar and Sugar Cube.
A pre-IPO fundraise of £400,000 will allow the company to accelerate its exploration and corporate objectives.
The company initially expanded its interests in the region with projects acquired from Power Metal Resources plc.