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Zigzag Lithium Update & Issue of Equity
Zigzag Lithium Update & Issue of Equity.
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 \nFIRST CLASS METALS PLC\n18th September 2023\nZigzag lithium Exploration Update & Issue of Equity\n \nFirst Class Metals PLC (\"First Class Metals\" \"FCM\" or the \"Company\") the UK metals exploration company seeking economic metal discoveries across its extensive Canadian Schreiber-Hemlo, Sunbeam and Zigzag land holdings is pleased to announce the launch of systematic exploration campaign at the Zigzag Lithium project in the Province of Ontario Canada. (\"Zigzag\" or the \"Project\").\n \nHighlights:\n \n· The Zigzag project is considered highly prospective for the discovery of economic pegmatite hosted lithium mineralisation. Historically several outcropping lenses of a potentially cohesive lithium-tantalum bearing pegmatite has been sampled across the property with encouraging results.\n \n-Historic grades at surface up to 1.68% lithium (Li20) over 7.9m and 0.168% tantalum (Ta205) over 2.54m. The claim group covers the historic Tebishogeshik occurrence.\n-Sampling by Nuinsco returned highly anomalous lithium (Li), tantalum (Ta), and rubidium (Rb), peaking at 3.55% Li20 , 836 ppm Ta₂O5, and 4,003 ppm rubidium Rb2O.\n-Several shallow historic drill holes along the occurrence have returned encouraging results, including, (in separate drill holes) an intersection grading 1.08% Li2O over 6.1m and a separate intersection of 399.8ppm Ta2O5 over 2.92m.\n \n· First pass limited sampling whilst achieving access returned samples with a peak of 1.7% Li20 and 346ppmTantalum, 104 ppm Niobium and >3000ppm Rubidium.\n· Currently an experienced geological team is on the project, undertaking a prospecting and mapping of the known expo...