First Class Metals plc (FCM) has observed and panned gold from grab samples on the Dead Otter trend at North Hemlo in northwest Ontario, Canada.
CONFIDENCE
The company added that a number of gold flecks were seen in the ‘tail’ in the panning dish.
“This is significant in not only proving the presence of gold in the Dead Otter trend but also signifies that (some of) the gold present is free-milling, a very important metallurgical aspect for future possible extraction.”
FCM has submitted an application for an exploration permit which allows stripping and drilling.
Advanced talks have started with a local drilling company which included a site visit to assess access for a diamond drill programme.
The company also continues detailed discussions with First Nations groups holding traditional land claims over the North Hemlo claim block.
Dead Otter is planned to advance to drill-ready status this season.
“The confirmation of (visible) gold underlines our increasing confidence in the potential of the Dead Otter Trend,” added chief executive Marc J Sale.
“This is a very significant milestone for FCM, as is the submittal of the exploration permit after extensive but positive and on going discussions with the First Nations.”