10th Dec 2025 13:51
(Alliance News) - First Class Metals PLC on Wednesday announced that its drilling programme on the North Hemlo project, which is currently paused, will recommence next week.
The stock was trading 5.9% higher at 1.80 pence each in London on Wednesday afternoon.
The London-listed gold and critical metals explorer in Ontario said nine drill holes are complete across its Dead Otter trend on the North Hemlo property, "marking strong progress in the company's maiden programme on this property."
First Class said it has tested four priority target areas along Dead Otter, for early geological coverage across multiple prospective zones, and around 200 core samples have been dispatched for assay analysis.
Drilling to complete the planned programme, the company said, will restart next week.
However, First Class noted that assay turnaround times are currently hard to estimate accurately, due to the work coinciding with the Christmas-New Year period and to "the seasonal volume of samples being processed across the region".
"To date, the maiden drill programme on the Dead Otter trend has been both technically and logistically successful, particularly given the inclement as well as challenging weather conditions," commented Chief Executive Officer Marc Sale. "The Emerald Geological Services team has executed the plan efficiently, and early indications from the core are encouraging.
"While assays will ultimately determine the significance of these intervals, the geological features observed to date reinforce our confidence in the Dead Otter trend as a compelling gold target within the North Hemlo Project. We look forward to receiving the first assay results in the New Year and to completing the balance of the programme before the Christmas break."
By Emma Curzon, Alliance News reporter
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