IN BRIEF: First Class Metals reports visible gold discovery at Sunbeam

First Class Metals PLC - Canada-focused mining and exploration company - Says it has discovered visible gold northeast of the Roy shafts. First Class Metals says it made the discovery while prospecting a gold and lead soil anomaly near an interpreted structural intersection identified from Lidar data. The company also says Pettigrew has advanced towards drill targeting, with phase 1 structural mapping and very low frequency and soil surveys now completed. It says the emerging geological interpretation provides the basis for a proposed initial drill programme of about 1,000 metres, while phase 2 structural mapping has commenced at Roy. First Class Metals also says it has been granted a three-year exploration permit for the Sunbeam property, where a drone survey is ongoing, and a non-binding letter of intent has been signed for an AI-enabled exploration collaboration.

Chief Executive Officer Marc J Sale commented: "The advancement in understanding the structural controls on mineralisation at Pettigrew and Roy have been stellar, the identification of coarse visible gold in a rock sample in a predicted zone testifies to this. We now believe we have a robust hypothesis which will allow targeting of drilling at Pettigrew and by default assist further drill planning at Roy. FCM is advancing the exploration of its portfolio on many fronts from Esa in the east to the Pathfinder REE block in the west."

Current stock price: 3.30 pence per share, up 14%

12-month change: up 43%

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