First Class Metals plc (FCM) said it was cautiously optimistic following results of further high grade nickle sulphides at the West Pickle Lake earn-in joint venture (JV) at its Canadian Schreiber-Hemlo and Sunbeam project.
PROGRAMME
The JV lies on the eastern flank of FCM’s 100% owned flagship North Hemlo project.
Partner and operator Palladium One Inc has the option to earn-in to an 80% interest in the project subject to a three-year work programme.
In May 2022, the Canadian miner began a 15,000 metre diamond drill hole programme, including 20 holes for 4,604m now completed at West Pickle Lake, with assays reported from nine holes.
The company also drilled one step-out hole, TK22-076 in an area estimated to be less than 500m from the boundary with North Hemlo.
RESULTS
Today’s reported results include:
– 0.97% nickel equivalent (Ni Eq) over 12.6m (0.72% Ni, 0.34% Cu, 0.02% Co, 0.14g/t total precious metals (TPM) of platinum, palladium and gold in massive and disseminated sulphide in hole TK-22-060
– including 3.94% Ni Eq over 2.4m (3.18% Ni, 0.99% Cu, 0.06% Co, 0.39g/t TPM)
– including 8.68% Ni Eq over 0.5m (7.60% Ni, 1.25% Cu, 0.12% Co, 0.41g/t TPM)
EXPANSION
FCM said that West Pickle mineralisation had now been defined over more than 500m of strike length.
“The ongoing positive results from WPL [West Pickle Lake] give reason for cautious optimism in the continued, most encouraging expansion of this newly discovered nickel copper sulphide zone,” added chief executive Marc J Sale.
“Additional optimism is the proximity of the hole TK22-76 to the North Hemlo claim block, bolstering the block’s potential and further emphasising the requirement for systematic exploration.”