Member Info for Urbanracer

Now then Mads,

Bloody great to hear from you. No matter what, we are having a meet up one fine day.

I am far more cautious these days but am still a long termer. Sometimes I wonder if it is sheer bloody mindedness but the fact is that I met Alex Shaw at the agm and had a very long chat with him about stuff that was shared in the meeting. He seems to be a very decent man indeed. A breath of fresh air in fact after all we have been through.

My feelings are that he has spent 18 months in assessment and evaluation of everything Landore. Bam clearly the priority, and the work done up to, and including, the MRE, will inform the next stages of development. Media output is what it is unfortunately, but I think interesting times are ahead nonetheless.

Just watched a video of Marc Sale produced uplifted yesterday from the Resourcing Tomorrow conference. It really is worth a watch.

In brief, it’s a comparison between a section of the grab sample taken from a DOT outcrop at North Hemlo and drill core recently obtained through targeting potential mineralisation directly beneath that section of outcrop.

The similarities are striking….and the outcrop sample at surface returned 19.6 g/t!!!!

This is a first pass (pilot) drill programme at North Hemlo and we may have struck gold!!! Roll on assays!

Great to see CEO Alex Shaw sticking to his word and protecting long term shareholders.

He cannot undo the past, but for now we see caution as funds are raised incrementally to complete each next stage of work.

All eyes on the revised MRE now with one of the most respected consultantancy firms in Canada behind its preparation. The errand is to produce a robust document that the industry will recognise as such, as well as containing potential uplift in category, resource size, and possibly grade as well as a result of the various workflows of the past 18 months.

Been told that Canadian drillers often work in two teams doing 2 x 12 hour shifts so that drilling and relocation is generally continuous . Apparently, the engine of the rig will only stop to dip the oil and move holes. Does anyone know if this is the case with Fcm North Hemlo or is it one team on the rig only?

There are a couple of new videos on the website now (went up yesterday and today). Good explanation from MS in relation to core logging and processing prior (once removed from the 3 metre drill barrel ) to cutting. Some samples seen in core even through MS makes it clear that the core shown was from high up in the hole (near surface) and is not from the deeper targeted area.

Wonder what that core is showing??

We are now a week into drilling. Updates from last week suggest that at least 3 holes (Unless contracted for weekend working?) will now be complete with core being examined by the geologist in order to examine the core, log the rock types, and geological boundaries.

I would imagine Fcm are drilling relatively shallow, and would imagine 50 or 60 m true depth with correspondingly longer actual drills depending on drill angle of inclination. Perhaps looking at a total of perhaps 220m ish so far if drill team on 5 x 12 hour weekly shifts.

Interesting takeaways are the fact that core was quite possibly mineralised judging by that very brief glimpse of the core box and the examination of core taking place last week. Obviously we can’t draw any au conclusions from that but interesting visuals in core is a good starting point.

We know that 700m as a minimum has been contracted for, but that “FCM anticipates exceeding this minimum drill requirement as drilling progresses along the Dead Otter trend”. So long as there are no breakdowns, or any mobility issues for the rig, we should quite possibly see the initial 700 finished within the next 2 to 3 weeks I think. Which would be great.

If we see continued drilling that is clearly taking us past the 700 as intended, we would have to ask ourselves a question. Is it because what they are seeing is positive (allowing for the fact that lab analysis would not yet have been undertaken - presumably), or because they are not seeing what they expected?

My money would be on the first scenario simply from a position of risk. What we can say is that the team will already be getting a flavour of things.

If they are now taking core trays away to Manitouwadge it suggests drilling well underway. Clearly it is daylight in video and images so indicates they started drilling yesterday or even at weekend. Crews usually do 12 hour shifts so they will have a good bit of core by now, assuming no problems.

I wonder what they are seeing? We could well be onto the second or even third hole depending on specifics. The average dd speed in Archean metavolcanic and metasedimentary rocks is highly variable, but generally falls within a range of approximately 20 to 80 metres per 12-hour shift. This rate depends heavily on the specific rock type, hardness, degree of metamorphism, and other operational factors. 

Just watched the quickie on site video x MS.

“A monument day” he says.

I could not agree more. 😀

The RNS suggests a degree of flexibility in the programme which is good to see. This implies caution as one would expect in a maiden programme.

The way I read it is that 700m would be aimed at specific areas, but with other targets potentially planned. A cautious approach suggests near surface so perhaps drilling true depths of 50 to 60 m. Obviously, depending on entry angle, the actual meterage per hole would be above that. I would suggest in region of 7 to 10 holes.

Fcm make the lab situation (possible seasonal delays) clear, so I wonder if they plan to have core assayed as they progress if possible, unless on site analysis (XRF perhaps) is able to provide the reassurance. I also note they are waiting on further data to overlay, so once that, and initial results are known, they can make a decision on wether to slightly expand that 700m (especially if this long awaited asset divestment concludes).

It’s been quite a ride since IPO, but we are finally here. The reason so many of us invested.

The maiden drill programme targeting gold is a big moment for any young exploration company.

There will be lots of very interested eyes on this.

Even at 700m (as a starter perhaps?), this is a big moment.

Lots of eyes will be on this.

Agree totally Paul.

Zed. Are you aware that MRE’s in Northern Ontario are currently being worked using a gold price of between $2300 and $2400? Take one hell of a price reversal to impact on those numbers ! As Nman said, gold explorers and producers simply do not care about daily, weekly or even monthly fluctuations. The pog used is based on peer agreed sensible values based on prices that have held over a protracted period of time.

Definitely buying on anticipation of news. A successful asset divestment and /or asset tokenisation will open the door to maiden drillies at Sunbeam, North Hemlo, or both.

Both Sunbeam and North Hemlo looking good; both have the potential to be major gold discoveries.

Snowking,

I am monitoring the posts by this Jaglith character. They seem to be damaging one liners with zero rationale. Although childish, they are potentially damaging to shareholders as they imply he has personal knowledge of ongoing testing, and how things are proceeding.

I am interested in what people think about his intention, as they are a constant theme. I would have thought he is breaching LSE posting rules?

Fell, I agree with your points but would therefore have thought that they would have pushed for a 100/1 rather than 10/1?

I might if I understood what he was saying….golf, flight, space?

Is he Elon Musk in disguise?

“The current strength in the gold price, underpinned by persistent macroeconomic uncertainty, strong central bank buying, and a tightening supply-demand balance, is creating a supportive environment for junior explorers. Historically, such conditions have driven renewed investor interest in early-stage companies with quality projects and credible exploration strategies - a dynamic that First Class Metals is well positioned to benefit from."

Successful asset sale or tokenisation will allow first drilling at Sunbeam.

Bottom line is absolutely massive ‘district scale’ project with au mineralisation presented in high grade zones with wide lower grade margins throughout.

3, now 4, proven mineralised trends with work ongoing to identify the most prospective drill zones.

Are we looking at a major discovery open pit scenario with high grade underground potential?

Looking very promising now.

Announced LOI’s must be approaching decision time. Positive result on either will allow significant exploration work on Sunbeam (and NH to a degree in order to keep permitting in good standing) without shareholder dilution. Very rare these days?

Seems to me that Fcm are excited about Sunbeam prospects and the announcement of an Fcm maiden drill programme for this winter, on the back of one or both successful financing events would be massive for us.

Sentiment seems to be returning here nicely.