First Class Metals plc has expanded its Sunbeam gold property in northwest Ontario after encouraging initial results from channel sampling.
DISTRICT SCALE
The property, one of 10 held by the company, comprises the Sunbeam, Pettigrew and Roy mines.
FCM is advancing towards drill ready status and retains an option to buy the historic Sunbeam mine.
Results published from the Roy prospect include 18.8 g/t gold grade from a 0.3m channel sample.
The company said it had staked an additional 119 contiguous claims to expand Sunbeam to 72km2, “encompassing district scale structures”.
The final payment of $25,000 for the adjacent Perry English option has been agreed before the intended transfer of 100% ownership of the claim to FCM.
“The initial channel results from Roy are encouraging to the extent of justifying the expansion of the Sunbeam property to included inferred structural extensions emphasising the district scale potential of the areal” added chief executive officer Marc J Sale.
“The mineralised structures identified on the property, historically exploited at Sunbeam, Roy and Pettigrew continue to provide tangible encouragement to develop the property towards drilling.”