Business
Exclusivity for Lithium property & Issue of Equity
Exclusivity for Lithium property & Issue of Equity.
About this update from First Class Metals Plc
[{"type":"text","content":"\n \n \n The 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 \n \n \n \n \n \n \n FIRST CLASS METALS PLC\n \n \n \n \n 12th December 2022\n \n \n \n \n Exclusivity Agreement for Lithium property Earn-In & Issue of Equity\n \n \n \n \n \n \n \n First Class Metals PLC (\"First Class Metals\" \"FCM\" or the \"Company\")\n \n the UK metals exploration company seeking large scale metal discoveries across its extensive Canadian Schreiber-Hemlo & Sunbeam land holding is pleased to announce that it has entered into an exclusivity agreement with a third party in respect to a Lithium project in Ontario.\n \n \n \n \n \n \n Highlights\n \n \n \n ·\n \n Exclusivity Agreement signed giving sixty days exclusivity on a highly prospective, strategically located lithium project in Ontario.\n \n \n \n · \n \n Premium fundraising from a private subscription of £300,000 to one single HNW resource sector investor at 16p per share.\n \n \n \n \n \n \n \n \n Precise details of the agreement are covered by an NDA, however FCM can report the project is less than 100km from Armstrong in northwest Ontario in a district already proved to be prospective for hard rock, pegmatite hosted lithium.\n \n \n A structure of over 800m has been identified and is wholly contained within the claim block, the lithium-tantalum mineralization is pegmatite-hosted with significant rubidium and cesium mineralization also reported. All of which are 'critical minerals' as identified by the Canadian Government and supported within the 'Critical Minerals Strategy' directive released by the Canadian Government on the 9th of December 20221.\n \n \n Previous workers have identified Li\n \n 2\n \n O and Ta\n \n 2\n \n O\n \n 5\n \n mineralization along the entire length of the showing from sampling at surface, grading up to 1.68% Li\n \n 2\n \n O (Lithium Oxide) over 7.9m and 0.168% Ta\n...