First Class Metals – Drilling commences at the Zigzag Lithium Property

First Class Metals PLC (LSE: FCM) has commenced drilling at the Zigzag Lithium Property, Ontario, Canada (Figure 1).

Source: First Class Metals PLC

The initial programme will be focused on a 400-meter centre of the central section where the company has already received some high-grade channel sampling results (Figure 2), including:

• 5.5 meters at a grade of 2.35% Li2O, 150ppm TA2O5, 120 ppm Ga and 1,740ppm Rb2O (Channel 7)
• 3.1 meters at a grade of 1.52% Li2O, 60ppm TA2O5, 90 ppm Ga and 1,820ppm Rb2O (Channel 3)
• 2.0 meters at a grade of 1.96% Li2O, 160ppm TA2O5, 110 ppm Ga and 1,170ppm Rb2O (Channel 6)
• 1.8 meters at a grade of 1.85% Li2O, 220ppm TA2O5, 90 ppm Ga and 1,740ppm Rb2O (Channel 4)

Source: First Class Metals PLC

The company will initially drill seven holes down to a depth of 50 meters and has the provision for a deeper step-back hole, should visual observations of the core be encouraging. The company expects the programme to total up to 500 meters.

As part of its process for drilling, the company also upgraded its initial agreement with the Whitesand First Nation by signing an Early Exploration Agreement demonstrating the Company’s commitment to responsible resource development by working with local stakeholders.

This drill programme is not just First Class Metals maiden drill programme at the Zigzag Property, it is the company’s first ever drill programme at any project, which is a very important and exciting milestone for the business. No time line has been given for the completion of the programme or the publication of the assay results, but we would assume that results will be announced by the end of the first quarter of 2024.

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This newsletter has been published by Mining and Metals Research Corporation (“the Company”). The information used to compile the article has been collected from publicly available sources and the Company cannot guarantee the 100% accuracy of those sources. This communication is intended for information purposes only and does not constitute an offer, recommendation, solicitation, to make any investments.? Nothing in this communication constitutes investment, legal accounting or tax advice, a personal recommendation for any specific investor. The Company do not accept liability for loss arising from the use of this communication. This communication is not directed to any person in any jurisdiction where, by reason of that person's nationality, residence or otherwise, such communications are prohibited.? The Company may derive fees from the production of this newsletter.

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