20th Nov 2023 14:43
(Alliance News) - First Class Metals PLC on Monday said that its subsidiary, First Class Metals Canada Inc, has been granted two further exploration permits by Ontario Province.
According to the Ontario, Canada-focused exploration company, these permits are effective for three years, until November 16, 2026. They allow for stripping, trail cutting, and diamond drilling.
The permits, which were granted by the Ontario Ministry of Mines, are for the Enable and McKellar properties. The former is transected by a regional structural contact with an inferred extent of five kilometres, within the property, with proven mineralisation.
Meanwhile, the latter is "contains a plethora of historic showings", according to First Class Metals, including gold and silver.
"I am gratified and humbled that the relationship with the First Nations with whom we interact has been recognised in the granting of these permits. Currently we now have six permits, along with three memorandums of understanding and an exploration agreement signed with four separate First Nation groups. I would also like to extend my thanks to the staff of the Ontario Ministry of Mines for their diligent work in issuing the permits," said Chief Executive Officer Marc Sale.
First Class Metals shares were trading 0.9% lower at 6.90 pence each in London on Monday afternoon.
By Holly Beveridge, Alliance News reporter
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