SYDNEY, AUSTRALIA: First Class Metals PLC, a UK-listed metals exploration company, has obtained two Exploration Permits for its North Hemlo and Esa properties in the Hemlo area of Ontario, Canada.
The permits are valid for three years and will enable the company to conduct various exploration activities, including drilling, stripping, and trenching.
The company’s goal is to bring four of its properties to drill ready status this year, and it is on track to achieve that, except for Esa, which may need more work. The company has a large portfolio of land holdings in Canada, where it is looking for economic metal discoveries.
Marc J. Sale, the CEO of First Class Metals, said that the permits were a positive move and expressed his gratitude to the Ontario Mines Department and the First Nations for their support.
The North Hemlo property has a promising gold potential, as evidenced by historical and recent samples that showed high grades of gold and other elements. The company plans to strip off the overburden and drill in selected areas along the Dead Otter trend.
The Esa property also has a gold-bearing shear zone that was identified by soil sampling and airborne magnetic survey. The company will strip off the overburden in parts of the shear where anomalies were detected.
First Class Metals is preparing for a busy period of news and progress on its four core properties. The company hopes to start a drilling campaign on one of them soon.
Unlocking the Value of Your Precious Metals: A Guide to Selling