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Zigzag (Li, Ta, Rb) Lithium & Critical Metal Exploration Project

Kerrs Gold Project | Ontario (Au) Gold Exploration Asset

Esa Project | (Au) Gold Exploration in Ontario Canada

Sunbeam (Au) Gold Exploration & Mining Project

North Hemlo (Au, Ni, Mo, Cu) Gold & Metal Exploration & Mining

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UK Listed Junior Mining Company | Gold & Metal Exploration

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It’s an excellent time to be in the gold sector.

The price of the precious metal has rallied by an incredible 50% over the past 20 months. Earlier this month, it hit a fresh record high of US$2,465 per troy ounce.

With the price currently being buoyed by prospects of Fed rate cuts and a second Trump presidency, it’s safe to say appetite for safe haven assets has been firmly reignited.

Naturally, this has been excellent for the big boys. Major gold producers like Newmont, Agnico Eagle Mines, and Barrick Gold have all enjoyed a sustained rise in recent times as the price of their product has grown.

But I believe it won’t be too long until the smaller explorers like First Class Metals start to shine.

The reality is, large gold companies no longer do their own exploration. They rely on juniors to do it for them, taking on projects once their economic gold potential has been established through hard work on the ground.

It’s at the centre of FCM’s “incubator” model in Ontario, which I have written about before. And the longer demand for gold is strong, the more pressure these larger firms will face to shore up their supplies by taking on new discoveries and developing them into mines.

This is where the big deals get made for companies like ours.

So, what an excellent time for us to be ramping up our exploration of the Dead Otter Trend at North Hemlo – one of the most exciting gold opportunities in our portfolio.

To recap, North Hemlo is one of our flagship projects. It is located around 24km north of Barrick’s world-class Hemlo gold mine, which has produced more than 23 million ounces of gold over the years.

Dead Otter is a 4.5km-long, discontinuous, gold anomalous trend at North Hemlo we identified in January last year during ground prospecting.

We encountered numerous gold assays exceeding 1g/t and one peaking at 19.6g/t gold. We call it the “19 grammer”, and it’s the highest known grab sample ever recorded on the northern portion of the Hemlo area

The Dead Otter Trend’s prospectivity for gold is further underlined by very high pathfinder values, too. These include molybdenum as well as telluride – a mineral strongly associated with gold deposits in the Hemlo area.

📷The Dead Otter trend at North Hemlo, with the significantly anomalous geochemistry along 3km of strike

Since January 2023, our subsequent work at the Dead Otter Trend has further supported and reinforced the potential for expanding the discovery.

That’s why we were delighted when we were able to secure permits for more invasive exploration thanks to the hard work of chief executive Marc.

Now, we’re ready to takes things to the next level.

We’ve applied for a OJEP grant to accelerate our work at Dead Otter. And this summer, we’ll complete a programme of stripping and channel sampling at the project akin to horizontal drilling across the surface of exposed outcrop.

Strong results will help to guide our follow-up exploration efforts. They also stand to bring many industry eyes onto the project, potentially making any drilling we complete thereafter a highly followed event in the Canadian gold industry.

We’ve already shown the sort of interest exploration projects with promising discovery potential in stable jurisdictions like Ontario are able to generate through our partnership with Seventy Ninth Resources.

📷First Class Metals CEO Marc Sale working at the Dead Otter Trend

We intend to start our stripping work at Dead Otter shortly, with multiple sites earmarked to get things going. Meanwhile, Marc – who has several multi-million-ounce gold discoveries under his belt – will soon head to Ontario soon to oversee operations.

Of course, we don’t know what we’ll find.

But with gold prices so strong and potential commercial interest in new discoveries so high, we’re certainly look forward to seeing what the rocks at Dead Otter have to tell us.

We look forward to sharing our progress with you over the coming weeks as and when we can.

Why now is the perfect time to ramp up exploration at the Dead Otter Trend