First Class Metals plc has grown its portfolio with a 100% earn-in agreement of the Quinlan lithium property comprising 98 claims in NW Ontario. FAVOURED The cash-shares deal with Broken Rock Resources Ltd involves “low execution costs” and a commitment to year one field work. FCM has staked 50 claims and has an option over […]
Tag: First Class Metals plc
FCM awarded C$200,000 for Zigzag exploration
First Class Metals plc has been approved a maximum C$200,000 grant for work completed on the polymetallic Zigzag property in northwest Ontario. PIVOTAL The award from the Ontario junior exploration programme (OJEP) is the company’s second following the North Hemlo grant in March 2023. The money covers up to a maximum of 50% of exploration […]
FCM signs potential 40% earn-in for McInnes Lake
First Class Metals plc has signed an exclusive 60-day agreement to finalise a potential 40% earn-in on the McInnes Lake gold property in northwest Ontario. GREENFIELD The company paid CA$5,000 to Emerald Geological Services Ltd to complete negotiations within the period. The figure will be deducted from FCM’s year one work programme expected to cost […]
FCM drill results show additional metals at Zigzag
First Class Metals plc drilling results “exceeded expectations” and revealed additional metals at its Zigzag lithium property in the Seymour-Falcon corridor, northwest Ontario. EXPANSION Last December’s inaugural drill comprised 10 diamond drill holes for under 500m. Nine of the holes targeted the pegmatite with two ‘step-back’ holes and the tenth drilled as a scissor. FCM […]
FCM raises £166,500 via chairman’s placing shares loan
First Class Metals plc has raised £166,500 via a private placing of 3.7 million ordinary shares of 0.1p each, at a price of 4.5p. The placing price is a 10% premium to the middle market price of ordinary shares at the close of business on 21 February 2024. Having insufficient headroom to issue and admit […]
FCM results show possible new structures at Zigzag
First Class Metals plc (FCM) said that soil sampling and rock-grab results showed possible new structures at its Zigzag property in northwest Ontario. STRUCTURES Taken last year, the 68 soil samples from lines to the east west of the core section, showed anomalous lithium ratios. The company said that results from soil lines 200m to […]