Next door.. FCM ..jv Palladium5 Oct 2022 09:55
Marc J Sale, First Class Metals CEO commented:
'The reporting of the initial results from FCM's West Pickle Lake prospect JV, add additional evidence that a new district scale nickel (copper) sulphide discovery is emerging on our North Hemlo property.
Furthermore, as indicated by Palladium one the prospectivity remains open to the west, ground held 100% by FCM.
Given only the results of the first of twelve holes have been reported and the visual estimation of other drill holes, particularly hole TK-22-70 are equally encouraging FCM anticipates continued support for the potential of the project.
We eagerly await further assay results and the results of the BHEM (Bore Hole Electro Magnetic) survey which should enable better definition of the conductor (sulphide) 'plates' and allow further drilling to focus on zones of potential mineralisation.
FCM continues to explore the North Hemlo block and currently efforts are focus in the target area between the West Pickle Lake prospect and the Dotted Lake prospect of Panther Metals, 10 km to the south west.'
Highlights Reported by Palladium One
· 4.8% Nickel, 3.7% Copper (6.8% Nickel Equivalent) over 1.8 meters from Massive Nickel Copper Sulphides .
· Massive to semi massive pentlandite-chalcopyrite-pyrrhotite sulphide discovered at the 600-meter long VTEMmax Electromagnetic ("EM") anomaly known as the 'West Pickle Zone':
o 12 diamond drill holes completed to date
· Preliminary assay results return:
o 3.4% Nickel Equivalent ("Ni Eq") over 3.7 meters (2.3% Ni, 1.8% Cu, 0.45 g/t Total Precious Metals ("TPM") (Pt+Pd+Au)) in hole TK-22-059
o Including 6.8% Ni Eq over 1.8 metres (4.8% Ni, 3.7% Cu, 0.87 g/t TPM)
o And 9.4% Ni Eq over 0.6 metres (8.2% Ni, 1.6% Cu, 1.62 g/t TPM)
· Visual results for holes TK-22-070, which intersected 1.7 meters of massive sulphide mineralization from 165.4 to 167.1 meters down hole.
· The new discovery closely resembles the Palladium One extremely high-grade Smoke Lake Zone located 20 kilometers to the east which has returned up to:
o 10.2% Ni Eq over 3.8 meters (8.1% Ni, 2.9% Cu, 0.1% Co, 0.61g/t Pd, 0.71g/t Pt, and 0.02g/t Au) in hole TK-20-023) (see news release January 19, 2021)
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