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Accelerated Exploration at North Hemlo
Accelerated Exploration at North Hemlo.
About this update from First Class Metals Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the \"UK MAR\") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n\nFIRST CLASS METALS PLC\n24 July 2024\nAccelerated Exploration at 3.7km Gold Trend in North Hemlo\n \nFirst Class Metals PLC (\"First Class Metals\" \"FCM\" or the \"Company\") the UK listed company focused on the discovery of economic metal deposits across its strategic exploration footprint in Ontario, Canada is pleased to provide an exploration update.\nFollowing a detailed technical review, the Company has upgraded the Dead Otter trend (\"Dead Otter\") within its 100% owned North Hemlo Property to high profile target status and has immediately launched the next stage and a potentially significant impact exploration programme. \nHistoric Dead Otter Exploration Highlights included:\n· The Company has confirmed the presence of a discontinuous 3.7km long gold trend at Dead Otter (open along strike so potentially larger) in the south of the North Hemlo Property which is located 23km north of Barrick's Hemlo 123 million ounce gold (\"Au\") mine (see Figure 1 below).\n \n· The structure forming the Dead Otter trend is considered to be subparallel to a district scale structure identified in the magnetics that has similarities to the structure hosting the Barrick Hemlo gold mine.\n \n· Visible gold has been observed in multiple grab samples from the Dead Otter trend, a grab sample reported 19.6g/t gold (Au) with a 13.6g/t gold sample in the near vicinity.\n \n· Gold has been 'panned' from pulverised grabs taken from the structure.\n \n· An Exploration Permit covering the 3.7km gold trend at Dead Otter was granted in November 2023 and is valid for three years. The permit allows mechanical stripping and diamond core drilling, and a drilling operator has successfully reviewed site logistics and acce...