Business
Zigzag Lithium Property Earn-In & Issue of Equity
Zigzag Lithium Property Earn-In & 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 9th March 2023\n \n \n \n \n Zigzag 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 signed an agreement with Nuinsco Resources Limited in respect to the Zigzag lithium project in Ontario.\n \n \n \n \n \n \n Highlights:\n \n \n \n ·\n \n Historic grades at surface up to 1.68% lithium (Li20) over 7.9m and 0.168% tantalum (Ta205) over 2.54m.\n \n \n The claim group covers the historic Tebishogeshik occurrence as well as other mineralised occurrences. \n \n \n \n \n \n \n \n \n ·\n \n The pegmatite hosting the deposit is reported to be more than 800m in length and 20m thick at surface.\n \n \n \n \n \n \n \n \n ·\n \n Sampling by Nuinsco returned strongly anomalous lithium, tantalum, and rubidium, peaking at 3.55%\n \n \n Li20\n \n \n with significant tantalum, and rubidium results at 836 ppm Ta₂O5, and 4,003 ppm Rubidium Rb₂2O. \n \n \n \n \n \n \n \n \n ·\n \n Exploration Permit already in place, allowing for exploration activities which may include stripping, trenching, and drilling.\n \n \n \n \n \n \n \n \n ·\n \n Property located 10.5km from the Green Technology Metals Limited\n \n \n (ASX: GT1)\n \n \n Seymour Project and several other hard rock lithium properties. Close to nearby current and future planned key infrastructure.\n \n \n \n \n \n \n \n \n ·\n \n Signing completes the process outlined in the 'Exclusivity Agreement' announced on the 112th of December 2022 for the 'Lithium property Earn In'. The project fun...