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Roy: Drill Mobilised & Drill Preparation Commenced

In brief · summary, not quotable

First Class Metals PLC has commenced drilling preparations at the Roy structure on its Sunbeam Property in Ontario, Canada, with drill mobilization now complete. The company has signed a 1,000-meter drill contract with an option for an additional 500 meters, and the first four drill collars have been marked. Drilling will focus on the Roy area, aiming to confirm depth continuity along strike of an 18.8 g/t gold channel sample previously obtained from stripping. Emerald Geological Services will oversee drill preparation, logging, and sampling.

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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 preparations for the forthcoming drill programme at the Roy structure on the Sunbeam Property. Drill mobilisation has now been completed.

Highlights

  • 1,000m drill contract with provision for additional 500m signed with Forage PL ("Forage") drilling
  • Drill preparation commenced on the Roy structure at the Sunbeam property
  • First four drill collars have been marked.
  • Drill rig and supporting equipment on site
  • Drilling will focus on the Roy area of the Sunbeam property
  • Drilling will seek to prove depth continuity in the area of and along strike of the 18.8g/t gold (Au) channel sample from the stripping
  • Emerald Geological Services ("EGS") will supervise drill preparation, the day-to-day drilling as well as core logging and sampling

Marc J. Sale CEO First Class Metals Commented:

"The mobilisation of the drill rig to Roy and the anticipation of drilling starting this weekend marks an important step forward in advancing the Sunbeam Property. Forage has recently completed a programme in the district and brings both local experience and a strong operational reputation.

The rapid progression from planning to mobilisation at Sunbeam demonstrates that FCM is a company focused on delivery. Having recently completed drilling at North Hemlo and now positioning to commence at Sunbeam, we are advancing our exploration strategy in a disciplined and systematic manner.

The Roy trend represents a robust mineralised structure of district scale in a geological environment know to host significant resources."

Figure 1 showing the stripped area at Roy which returned 18.8g/t Au and will be the focus of the drilling.

Qualified Person

FCM acquired the Zigzag Project near Armstrong, Ontario in March 2023. The property features Li-Ta-bearing pegmatites in the same belt as Green Technology Metals' Seymour Lake Project, which contains a Mineral Resource estimate of 9.9 Mt @ 1.04% Li2O. Zigzag was successfully drilled prior to Christmas 2023 and results have now been released.

The Kerrs Gold property, acquired under option by First Class Metals in April 2024, is located in northeastern Ontario within the Abitibi Greenstone Belt, one of the world's most prolific gold-producing regions. The project holds a historical inferred resource of approximately 386,000 ounces of gold, underscoring its potential as a meaningful addition to FCM's expanding gold portfolio. Kerrs Gold complements the Company's exploration strategy and provides exposure to a well-established mining district. FCM is currently reviewing plans to advance the project and further unlock its value.

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.

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