November Newsletter8 Nov 2022 18:19
It’s certainly been a whirlwind few months.
A major step-change in our existence as a company came, of course, with our London Standard listing at the end of July.
But as far as our core activities were concerned, by that time we were already well underway.
Indeed, we’ve been working on our projects continuously since well before our listing. And the rapid pace we’ve set ourselves has already resulted in plenty of newsflow. Since August we’ve put out updates on North Hemlo, West Pickle Lake, Esa, Magical, and McKellar, as well as details of the acquisition of new ground at Sunbeam.
What’s more, we are in a strong position to keep delivering positive news well into 2023.
Among our most key projects is the North Hemlo property, where we hold over 90km² of ground comprising 427 individual claims.
The southern portion of North Hemlo is, broadly speaking, more prospective for gold and copper, while in the northern portion we’re more on the lookout for base and battery metals and platinum group elements. Our near neighbours provide obvious reasons for this.
To the east of us in the north, Palladium One already has a major platinum group metals and nickel discovery, and JV’d with us on a significant portion of our own ground called Pickle Lake.
In the south, meanwhile, Barrick’s famous Hemlo gold mine, a well-established multi-million-ounce gold operation, is just one granite pluton away.
Long story short, Canada is a big country to be operating in, and we are hopeful of making big discoveries.
However, no progress will be possible or desirable without the assent agreement of the First Nations in the region, something we at First Class Metals are acutely conscious of.
Indeed, it’s partly for that very reason that we’ve had people on the ground so consistently throughout the past several months. Our chief executive Marc Sale has personally driven several thousand miles back and forth across the territory to conduct meetings with First Nations.
It’s hard to overstate how important this personal approach and contact is to us. As it stands, our approach is overtly collaborative, to the point where we don’t apply to the Crown for exploration permits until we’ve already got the go ahead from the First Nations with traditional claims over our exploration areas.
Meanwhile, work on the ground is ongoing. For example, soil sampling is taking place across Esa to help us build towards geophysics over specific targeted areas, with the intention of drilling next year. We also plan to drill at Sunbeam next year, and Palladium One continues to make progress up at Pickle Lake.
All told, there’s a lot to be confident about.
The geological model we have adopted on the southern part of North Hemlo is based on the orogenic shear hosted gold deposit (a Barrick-Hemlo template), and so far initial reconnaissance is encouraging. But there’s so much going on across our portfolio that we really do have a number of avenues that could le
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