Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest update is out from First Class Metals Plc ( (GB:FCM) ).
First Class Metals has completed its maiden drilling programme at the North Hemlo property in Ontario, marking a key operational milestone on the Dead Otter trend within the world-class Hemlo Greenstone Belt. The company drilled ten diamond holes over roughly 3km of strike, exceeding the planned 700 metres and targeting seven geochemically anomalous zones defined by earlier high-grade grab samples, stripping and soil geochemistry, including areas around a 19.6 g/t and 2.3 g/t gold grab sample. More than 300 core samples have been sent for assay, with about 100 more in transit, after geological logging identified multiple visually prospective zones in every hole, showing deformation, veining and sulphide mineralisation consistent with the shear-hosted orogenic gold model used at Hemlo. The programme also tested the contact between greenstones and the nearby Dotted Lake granodiorite pluton, a setting known elsewhere in the Superior Province to host significant gold deposits, underscoring the geological potential of the area and positioning First Class Metals to benefit from renewed regional investment following the recent US$1.09bn sale of the Hemlo Mine to Hemlo Mining Corporation, though the ultimate significance will depend on pending assay results.
More about First Class Metals Plc
First Class Metals PLC is a UK-listed mineral exploration company focused on discovering economic metal deposits across a portfolio of properties in Ontario, Canada. Its flagship assets lie within prolific greenstone belts, including the Hemlo district, where it is targeting shear-hosted orogenic gold systems and other structurally controlled mineralisation in a region anchored by long-life producing mines.
Average Trading Volume: 1,594,177
Technical Sentiment Signal: Buy
Current Market Cap: £5.26M
For detailed information about FCM stock, go to TipRanks’ Stock Analysis page.