First Class Metals PLC (“First Class Metals”, “FCM” or the “Company”) the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada, is pleased to provide an update on the ongoing drilling programme at the Roy prospect on the Sunbeam Property, where drilling has intersected a broad mineralised structure and visible gold has now been identified within drill core.
Highlights
- Visible gold (‘VG’) has been observed in core from one of the drilled holes
- Drilling is ongoing with all holes to date intersecting the (mineralised) ‘package’
- Currently the strike of the drilled structure is over 250m
- Emerald Geological Services remain on site supervising all aspects of the drilling.
- Drilling programme nearing completion with further results expected shortly
Marc J. Sale CEO, First Class Metals, Commented:
“The drilling at Roy is progressing satisfactorily with all holes intersecting a sulphide bearing, potentially mineralised ‘package’ of deformed and quartz veined chloritic schist and altered tonalite. This package has a true width of several metres. The identification of visible gold is a huge uplift for the exploration team. This vindicates the enthusiasm demonstrated over the Roy prospect by FCM and EGS. In my experience, visible gold identifiable to the naked eye within drill core is often associated with potentially high gold grades, I would anticipate the assay being in the order of an ounce, depending on the length of core in that sample.”
Roy structure
The lineament that the Roy occurrence / development is located on is a district scale structure and has now been traced through historic work and EGS prospecting towards the 111ppb lake sediment sample some 5km northeast along strike of the mine shaft. The structure also hosts historic shafts B43 and B45, which further enhances the potential (see Figure 1).
Figure 1 illustrating the soil (VLF) grid and locations of historic shafts, including Roy.
Drilling
The planned 1,000 metre diamond drilling programme is nearing completion.
Drilling to date has consistently intersected the targeted mineralised package (see Figure 2), which comprises altered tonalite and deformed chloritic schist with quartz veining and sulphide mineralisation. Based on current drilling, the structure has now been traced over more than 250 metres of strike, and could extend beyond 350 metres once the final holes of the programme are completed.
The consistent intersection of this mineralised package across multiple drill holes provides encouraging evidence of structural continuity within the Roy prospect.
Figure 2 boxes of core from a drill hole drilled on the new azimuth of 110o, showing the potentially mineralised ‘package’ of altered (variously quartz veined) tonalite on the margins of deformed chloritic schist containing / alternating with quartz veins and veinlets.
The observation of visible gold in the core is considered extremely significant, (see Figure 3). The gold grains and micro veins are scattered throughout a small area of the quartz vein. There are several, possibly 5, distinct areas in the core sample that have gold grains (see Figures 4-8).
Figure 3 showing visible gold grain in one quartz vein.
The gold is intimately associated with a lead mineral, galena, which appears a slightly metallic grey in the images.
This association could prove valuable as a pathfinder going forward in expanding the soil sampling grid.
Figure 4 showing visible gold grains in one area of the quartz vein.
Figure 5 showing visible gold grains in another area of the quartz vein.
Figure 6 showing visible gold in separate area of the quartz vein.
Figure 7 showing visible gold grains in a separate but associated area of the quartz vein.
Figure 8 showing visible gold grains in another area of the quartz vein.
EGS has a portable XRF machine and it ‘analysed / probed’ a very small area of the core including an area of the gold grains and galena. The machine repeatedly confirmed the presence of both gold and lead, conforming beyond doubt that the visually identified gold is indeed gold.
The EGS team will now have a renewed diligence in looking for further evidence of visible gold in other core samples from the mineralised package.
Qualified Person
The technical disclosures contained in this announcement have been drafted in line with the Canadian Institute of Mining, Metallurgy and Petroleum standards and guidelines and approved by Marc J. Sale, who has more than 30 years in the gold exploration industry and is considered a Qualified Person owing to his status as a Fellow of the Australian Institute of Mining and Metallurgy.
Glossary of Technical Terms
| Term | Definition |
| Au | Chemical symbol for gold. |
| Assay | Laboratory analysis used to determine the concentration of metals within a rock sample. |
| Diamond Drilling | A drilling method that uses a diamond-tipped drill bit to recover a cylindrical core of rock for geological examination. |
| Drill Core | Cylindrical sections of rock recovered during drilling which allow geologists to examine rock types and mineralisation. |
| Galena | A lead sulphide mineral (PbS) that can occur in hydrothermal mineralised systems and may be associated with gold mineralisation. |
| Mineralisation / Mineralised | The presence of economically important minerals within a rock formation. |
| Mineralised Structure | A geological feature such as a fault, shear zone, or vein system that hosts mineralisation. |
| Outcrop | Exposure of bedrock at the Earth’s surface. |
| Quartz Vein | A vein composed primarily of quartz that forms when mineral-rich fluids fill fractures in rock; these veins can host gold mineralisation. |
| Strike | The length or horizontal direction of a geological structure or mineralised zone. |
| Sulphide Minerals | Minerals containing sulphur combined with metals such as iron, lead, or copper; commonly associated with gold deposits. |
| Visible Gold | Gold that can be observed with the naked eye within a rock sample or drill core. |
| XRF (X-Ray Fluorescence) | A non-destructive analytical technique used to determine the elemental composition of rocks and minerals. |
For Further Information:
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For further information, please contact:
James Knowles, Executive Chair
Email: JamesK@Firstclassmetalsplc.com
Tel: 07488 362641
Marc J Sale, CEO
Email: MarcS@Firstclassmetalsplc.com
Tel: 07711 093532
AlbR Capital Limited
David Coffman / Dan Harris
Website: www.albrcapital.com
Tel: (0)20 7469 0930
Axis Capital Markets (Broker)
Lewis Jones
Website: Axcap247.com
Tel: (0)203 026 0449