First Class Metals

Default features description for sign up page.

Join our free monthly email newsletter - First Class Focus - to get the latest insight into work across our portfolio, access to all of our special reports, and much, much more…

Useful Resources

Company Presentation

Shareholder Information

Why Invest in UK-Listed Junior Mining & Exploration Companies

Investors

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

Mining & Metal Exploration Projects Overview |

Pipeline Projects

Naming our new projects

Projects

Corporate Strategy | First Class Metals Exploration Plan

ESG Policies | Responsible Metal Mining & Exploration

Board & Management | First Class Metals Leadership Team

Corporate

Overview page 2

UK Listed Junior Mining Company | Gold & Metal Exploration

First Class Focus

News Announcements

Media

Contact Us

Poppins

This week is a particularly exciting one for First Class Metals as we’ve been able to take part in our first Mines & Money event since our listing.
 
There’s been plenty for us to talk to both existing and investors in attendance.
 
After all, aside from the high grade assays we released from West Pickle Lake on Tuesday–which included grades of up to 12.8% nickel equivalent–we’ve recently announced not just the acquisition of the Sunbeam gold project but also an exploration update for the Esa claim block.
 
Each of these is significant. But today, it’s Esa I want to look at in particular.
 
To recap briefly, we sourced a full coverage VTEM geophysical data set covering the asset from its previous holder at absolutely no cost earlier in the year.
 
This saved us a lot of time and money. But more importantly, it let us quickly double down on our theory that Esa sits between two property packages where exploration strongly supports the presence of a “shear”.
 
This can quickly get complicated. But in simple terms, shears arise when two very large, moving bodies of rock “rub” against each other. When this takes place, it can result in a vast number of fractures in the bodies that hot fluid containing minerals can enter and cool.
 
In short; if there’s a shear present on our licence area, we want to know about its mineral potential.
 
We quickly enlisted Paterson Grant Watson, or PGW, to reinterpret the VTEM data acquired to see if it could back up our approach. And it was the results of this work we were able to release earlier this week.
 
Excitingly, the data was as encouraging as we’d hoped. As highlighted by Telluris Consulting’s Dr Tony Starling, PGW believes the shear thought to be present either side of Esa indeed runs through our own property from the east to west.

PGW itself said….
 
“…Through the centre of the property, the proposed Hemlo-style shear zone trends roughly WNW-ESE and is associated with a magnetic anomaly of approximately 60 nT within the Esa/Soturi block magnetic data. The anomaly is approximately 350 m wide and is identifiable within the Hemlo survey data for approximately 5 km to the west and 4.5 km to the east of the Esa property as a regional arcuate structure.”
 
And….

“…Mineralization within the property appears closely related to a series of N-S trending magnetic anomalies which may be related to the Marathon, Kapuskasing or Biscotasing dyke swarm. Numerous high geochemical Au assay values occur along these anomalies and at the intersection of these anomalies and WNW-ESE interpreted faults.”

Below you can see the reinterpreted results visually, highlighting the potential shear zone bisecting the property and a 3D block model interpretation highlighting a deep-seated N-S anomaly.

The bottom line is, PGW’s interpretation of this “Esa shear zone” would be notable in any situation. But it’s particularly notable here because a shear is responsible for mineralisation at Barrick Gold’s Hemlo gold mine.
 
Hemlo has produced more than 21 million ounces of gold through more than 30 years of continuous operation. It still has proven and probable gold reserves of 1.1 million ounces and 2.6 million ounces of measured and indicated gold resources.
 
In other words, Hemlo is, to this day, an extremely prolific producing gold mine.
 
But even more importantly, it’s located just 11kms away from Esa in Ontario. That’s a pretty long walk, maybe, but it’s a mere stone’s throw in geological terms.
 
With PGW’s report, then, we’ve taken another step towards showing that Esa not only offers a very similar geological setting to Hemlo but offers that geological setting in the same neighbourhood as Hemlo.
 
There’s still some way to go towards proving this definitively, of course. But we are now more excited than ever to assess this licence’s potential, and are currently finalising a soil sampling programme along the inferred surface expressions of the sheer.
 
We’ll release the results of this work when we have them. However, right now, this latest development continues the strong momentum we’ve established in the last few months at First Class Metals across several projects.

Adding weight to Esa’s “prolific” potential