First Class Metals plc said it was “cautiously optimistic” following results of further high grade nickel sulphides at the West Pickle Lake earn-in at its Canadian Schreiber-Hemlo and Sunbeam project.
POTENTIAL
The joint venture lies on the eastern flank of FCM’s 100% owned principal North Hemlo project.
Partner and operator Palladium One Inc has the option to earn-in to an 80% interest in the project subject to a three-year work programme.
In May 2022, the Canadian miner began a 15,000 metre diamond drill hole programme, including 20 holes for 4,604m now completed at West Pickle Lake, with assays reported from nine holes.
The company also drilled one step-out hole, TK22-076 in an area estimated to be less than 500m from the boundary with North Hemlo.
Today’s results include 0.97% nickel equivalent over 12.6m (0.72% Ni, 0.34% Cu, 0.02% Co, 0.14g/t total precious metals of platinum, palladium and gold in massive and disseminated sulphide).
FCM said that West Pickle mineralisation had now been defined over more than 500m of strike length.
“The ongoing positive results from WPL [West Pickle Lake] give reason for cautious optimism in the continued, most encouraging expansion of this newly discovered nickel copper sulphide zone,” added chief executive Marc J Sale.
“Additional optimism is the proximity of the hole TK22-76 to the North Hemlo claim block, bolstering the block’s potential and further emphasising the requirement for systematic exploration.”