(Alliance News) - First Class Metals PLC on Monday looked optimistically to further exploration in Canada, after signing an agreement with the Netmizaaggamig Nishnaabeg First Nation.
According to the Ontario, Canada-focused exploration company, the deal covers the North Hemlo, Esa and Sugar Cube properties, which can be found in the traditional territories of the Netmizaaggamig Nishnaabeg First Nation.
Netmizaaggamig Nishnaabeg is an Ojibwe First Nation band government in Northwestern Ontario, Canada.
First Class Metals told investors on Monday that the agreement, which "recognises and respects" the rights and interests of the community, is in line with its commitment to build "sincere" relationships with First Nation communities.
"I am extremely pleased that the efforts to establish a transparent honest relationship with Netmizaaggamig Nishnaabeg First Nation and their representatives has culminated in the signing of this agreement and I look forward to working with the community as we progress First Class's exploration areas," said Chief Executive Officer Mark Sale.
"Now this exploration agreement has been granted we intend to imminently start a stripping program on the Esa Property, with the intention of bringing it to a true 'drill ready status"."
First Class Metals shares were trading 0.8% lower at 6.30 pence each in London on Monday morning.
By Holly Beveridge, Alliance News reporter
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First Class Met (FCM)