First Class Metals plc reported a “new gold showing with significant silver” from first assay results of the 2022 field campaign at the Enable property, west of Marathon in Ontario.
CONTACT
The company conducted the programme over a district-scale mineralised geological feature, striking northeast to southwest, which can be traced off property to historical showings.
Enable’s 41 claims blocks, over 16.4km², are dissected by the structure which is the contact between the Terrace Bay batholith to the southeast and the mafic volcanics and iron formation, which have been intruded by quartz-feldspar porphyry dykes related to the batholith, to the northwest.
The contact between the mafic rocks and the Terrace Bay batholith is the company’s main “vector of interest” with regards to Enable.
FCM added that there were “numerous showings” located in surrounding claims and more than 30 gold occurrences in the district were associated with the contact.
“All these known gold occurrences and the presence of historical gold on the property are substantive evidence to support the inferred continuation of the mineralised geological structure/contact through the Enable claim block.”
RESULTS
FCM completed two field visits to Enable, identifying several quartz veins and collected more than 80 rock samples.
Rock grab samples revealed over 7ppm gold, with the historic West Perch Lake showing of ~2ppm gold was confirmed and expanded.
The company said that several samples returned “anomalous to significant silver values” with higher silver values associated with “elevated” gold assays.
FCM plans further work for the upcoming field season, including soil lines and continued reconnaissance along the inferred contact.
The company has also started a programme of lake sediment sampling and is drafting an application for a three-year exploration permit for stripping, trenching and scout exploration drilling.
Chief executive Marc Sale added that further work aimed to expand the area of quartz veining.
“Currently all assessment work is complete, and the claims are in good standing through 2023.
“The Enable claim block, previously considered of merit, is now assuming significance in the company’s ever aspiring portfolio.”