First Class Metals plc (FCM) reported further high-grade drillhole intercepts from the West Pickle Lake massive sulphide discovery in Ontario, Canada.
JOINT VENTURE
The Pickle Lake project area comprises 33 single cell mining claims over which Palladium One Inc has the option to earn in to an 80% interest subject to a three-year work programme commitment.
West Pickle Lake lies on the Pezim II claim block of the larger North Hemlo claim block 100% owned by FCM.
ASSAY RESULTS
A total of 32 holes for 6,766 metres have to date been drilled in the vicinity of West Pickle, with mineralisation defined over more than 500m strike length remaining open in all directions.
Results from Palladium One include:
Hole TK-22-073: 7.2% Ni, 2.0% Cu, 0.10% Co, 0.56 g/t total precious metals (TPM of platinum, palladium and gold) over 2.6m of massive sulphides including 10.3% Ni, 2.9% Cu, 0.15% Co, 0.80 g/t TPM over 1.8m
Hole TK-22-072: 2.0% Ni, 0.9% Cu, 0.04% Co, 0.36 g/t TPM over 4.1m of massive and semi-massive sulphides, including 5.3 Ni%, 1.5% Cu, 0.12% Co, 0.67 g/t TPM over 1.5m.
POTENTIAL
Chief excutive Marc J Sale added that the company was encouraged by the results.
“The success to date and accordingly the potential of the discovery continues to grow and, significantly for FCM, remains open to the west in the direction of the 100% FCM owned North Hemlo property.”