First Class Metals

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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 |

Kerrs Gold Project | Ontario (Au) Gold Exploration Asset

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

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Corporate Strategy | First Class Metals Exploration Plan

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It was excellent to announce our return to trading last week. I’d like to thank all of our investors again for their patience through what was a frustrating period.

With so much work taking place both on the field and in the office over the last few months… and with Marc now in Ontario overseeing ongoing exploration efforts and hosting site visits across our project portfolio…

I’m feeling particularly confident in First Class Metals’ outlook from here.

We’ve taken significant steps forward on the corporate front over the past month or so. Most notably, we announced the sale of our McKellar and Enable assets to Seventy Ninth Resources for £270,000 in cash and £230,000 of funding.

The sale provides real validation for FCM’s incubator strategy – the core of how we generate value for our investors.

We use our expertise to identify promising early-stage exploration assets before deploying our first-class teams on the ground to advance them up the value curve. Then we generate profit by commercialising them – be it through an outright sale or a JV or partial divestment.

Now our first deal is complete, we’ll build on this momentum through the commercialisation of more of our assets moving forward.

This might sound ambitious for an exploration company. But the pieces are already in place.

We’ve been able to advance all four of our Big Four projects to drill ready status since we’ve listed. We’ve also continuously been able to demonstrate their prospectivity for a variety of highly-in-demand metals – whether in the battery or precious categories.

Perhaps most notably, our first drilling campaign at Zigzag far exceeded even our own expectations. The ten holes drilled returned numerous intersections of >1% lithium along with elevated rare earths grades.

All this means we’ve already been able to establish significant commercial interest in our portfolio.

Seventy Ninth Resources is continuing its due diligence of our projects as part of its efforts to establish a portfolio of high-potential assets ahead of listing. We will provide updates on the multi-asset sale process as and when we can.

Meanwhile, as I noted in our results earlier in June, we are exploring potential joint ventures, partial divestments, and even project sales.

Whatever happens, our goal remains the same – maximising value for shareholder in the shortest possible timeframe

That’s not to say we’re resting on our laurels.

As strong as the potential of our portfolio is today, we’re committed to leveraging our expertise and expanding project upside even further through ongoing exploration.

As we announced in last week’s update, we’re right now completing a number of important work streams across our key assets…

Sunbeam – We’re reviewing and sampling core from historic drill programmes at Pettigrew and Roy to improve our understanding their porphyry gold potential;

Zigzag – We’ve submitted an updated exploration permit for further stripping and drilling. This will allow us to follow-up on the strong intersections from our core zone and investigate the sub-parallel trend we believe we’ve identified; and

North Hemlo – We’re planning a stripping programme at the Dead Otter trend. This will enable us to complete the work needed to establish drill targets so we can better establish the scale of gold potential along the structure.

We’re also continuing to expand our portfolio. As we commercialise existing projects, we want to make sure we have new ones coming up the wings to replace them.

We’re constantly on the lookout for new opportunities in Ontario on attractive commercial terms. This is how we generate the most value possible. 

Our efforts recently led to deals over the Kerrs Gold and Quinlan lithium properties, where we’re now completing surveying and reconnaissance to better understand their geology.

All told, there’s a lot going on at First Class right now. I look forward to updating readers on positive developments over the coming weeks and months.

A look at our commercial plans from here…