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#FCM First Class Metals PLC – Zigzag-Further Lithium & Critical Metal trend
First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK listed metals exploration company seeking economic metal discoveries across its extensive Canadian Schreiber-Hemlo, Sunbeam and Zigzag land holdings is pleased to announce the results of a mobile metal ion (MMI) soil sampling programme as well as accompanying rock-grab samples on the Company’s Zigzag Property , (the “Property”) located in the Seymour-Falcon corridor in northwestern Ontario, Canada.
Soil samples were collected along six north-north-west to south-south-east soil sample lines between 100-200m in length, with 12.5m sample station spacing (see Map 1). These included four lines along strike to the west and east of the main 400m ‘core zone’ which was subject to the drilling campaign in December 2023. A further two lines starting ~200m orthogonal to the dominant strike and to the south of the trend of the main zone were sampled. All soil samples were analysed using the Mobile Metal Ion (MMI) method of SGS Labs.
The sample results support the belief that the ‘core 400m zone’ is open along strike. As previously reported, both the most eastern and western holes of the recent drilling programme intersected pegmatite. The soil sample results further confirm the mineralisation is open.
HIGHLIGHTS
· The results from 64 rock-grab and 68 soil samples collected late last year are now available.
· Soil sampling lines to the east west of the core section show anomalous lithium (Li) ratios.
· Results from soil lines 200m to the south of the ‘Main zone’ indicate the probability of a second subparallel structure.
· Grab samples anomalous in Li and other pegmatite associated elements indicate a possible third trend.
· Assay results from the recent drill programme are anticipated in the coming days.
Marc J Sale Chief Executive Officer Commented- “The results from this combined sampling programme validate the belief by FCM that the ‘Main Zone’; is open along strike for a considerable distance. Furthermore, the strong evidence of a second structure to the south with the possibility of a third structure compels FCM to engage in discussions with the First Nations to initiate the application for an Exploration Permit to be able to fully evaluate these new zones”.
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Map 1, showing the location of the MMI samples as well as the response ratio (RR) for caesium, (Cs) which overall is the most representative of the anomalism. Note[1]: values are generally considered anomalous when the response ratio is above 5.
RR Response Ratio Highlights from MMI sampling
· Highest lithium (“Li”) response ratio (“RR”) of 11 obtained ~100m along strike to the east of the eastern most DDH from December 2023 (ZIG-23-07).
· Highest caesium (“Cs”) RRs of 15 and 30 obtained at consecutive stations ~100m along strike to the west of the western extent of sampling on the main zone.
· Li RRs up to 10 on the southern lines.
· Multiple MMI anomalies in other elements, especially on the eastern and southern lines, zinc RRs up to 40, silver up to 50, molybdenum up to 51, copper up to 21.
[1] According to SGS Labs, response ratios generally need to be greater than 2-5 to be considered anomalous. https://www.sgs.com/en-ca/-/media/sgscorp/documents/corporate/brochures/sgs-minerals-mmi-tb-23-processing-and-presenting-mmi-geochemical-data.cdn.en-CA.pdf
Grab Samples
· Grab samples of pegmatite at two sites 200-250m across strike to the south of the main zone returned up to: 2600 ppm Li; 4290 ppm Rubidium; 920 ppm Cs (highest value of 2023 sampling); and 686 ppm Tantalum. Sampled dykes could represent offshoots of a parallel zone to the main zone.
· Grab samples of pegmatite ~500m across strike to the south of the eastern extension of the main zone, near the eastern property boundary, returned up to 186 ppm Li; 1240 ppm Rb; 102 ppm Cs, potentially a third structure.
Coleman Robertson, Project Geologist from Emerald Geological Services commented– “There is compelling geochemical evidence to indicate that a second subparallel trend at Zigzag could be present.“
The combined results of both the soil sampling programme and the associated ‘grab’ samples support the belief that the ‘core zone/ Main zone’ that was drilled in December is open to both the west and east.
Furthermore, there is strong geochemical support for a sub parallel trend about 200m to the south of the Main Zone. Additional work is needed to expand and confirm the anomalism identified. As well follow up sampling is required to confirm the presence of a possible third trend currently identified in anomalous rare element results in grab samples.
A significant silver anomaly was identified over the two eastern most MMI lines off the Main Zone. This also requires further investigation.
Ends
For further information, please contact:
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James Knowles, Executive Chairman |
07488 362641 |
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Marc J Sale, CEO |
07711 093532 |
Novum Securities Limited
(Financial Adviser)
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David Coffman/ George Duxberry |
www.novumsecurities.com |
(0)20 7399 9400 |
Qualified Person
The technical disclosures contained in this announcement have been drafted in line with the Canadian Institute of Mining, Metallurgy and Petroleum standards and guidelines and approved by Marc J. Sale, who has more than 30years in the gold exploration industry and is considered a Qualified person owing to his status as a Fellow of the Australian Institute of Mining and Metallurgy.
#KAV Kavango Resources PLC- KCB – Enhanced drill target resolution over PL082
Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) is pleased to report that infill soil sampling has successfully enhanced target resolution at its Kalahari Copper Belt (“KCB”) licence PL082/2018, ahead of drilling.
Based on in-house data analysis, Kavango’s technical team believes PL082/2018 is a possible analogue to Khoemacau’s Banana Zone deposit, which sits immediately to the south of Ghanzi Ridge and which has been reported as having an estimated total mineral resource of 55.8Mt @ 1.1% Cu & 16.4g/t Ag.
HIGHLIGHTS
– Infill soil sampling has confirmed and extended the existing two target zones within PL082/2018 (announced >>> 26 August 2022) and added a third new target zone (the “Target Zones”)
– 312 soil samples taken, to add to the 3,182 existing samples
– Line spacing reduced to 400m from 800m in prospective areas
– New Target
– The “Middle Zone” is located between the Northern Zone and Central Zone, with a 1.25km strike and peak value of 35ppm Cu
– Enhanced targets
– Northern Zone: strike length extended to 9km from 8km and maximum strike width extended to 650m from 400m
– Central Zone: elevated copper (Cu) levels along 27km strike length confirmed
– Next steps
– Up to 17km of Controlled-Source Audio MagnetoTelluric (“CSAMT”) survey lines
– Reverse Circulation (“RC”) and/or diamond drilling within the Target Zones
Kavango has provided a map showing the Target Zones at PL082/2018 on the Company’s website, via the link below:
https://www.kavangoresources.com/media-library/news-release-media/rns29september2022
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“This latest infill soil sampling on PL082 underscores Kavango’s rigorous approach towards exploration, prior to drilling. The results are particularly encouraging in that they strengthen and extend our existing targets (the Northern and Central Zones), while adding a third entirely new target (the Middle Zone).
PL082/2018 is among the most promising of our 12 prospecting licences in the Kalahari Copper Belt due to its favourable regional geological structures, the consistent copper values we’ve encountered, and what we believe are significant geophysical similarities to Khoemacau’s nearby Banana Zone deposit.
We now have mobilised CSAMT equipment to help us learn more about the subsurface structures in this area, as a final step before drilling.“
Infill soil sampling details
Kavango previously identified two discrete copper geochemical anomalies, which align with mapped underlying geology at PL082/2018:
I) Central Zone (Cu: >30ppm, Max 118.8ppm)
– Follows the geological trend of a sub outcropping anticline. This anticline forms the dome that hosts the Zeta and Plutus copper deposits located by Discovery Metals to the North East. The elevated copper values are postulated to represent a possible leakage zone from an underlying redox contact
– The unit has been mapped to extend over the entire length of PL082/2018, extending over 27km, and is also characterised by a zone of elevated magnetic response
II) Northern Zone (Cu: >30ppm, Max 39.7ppm)
– A robust anomaly extending over 8km of geological strike length occurring in an area with no outcrop (under Kalahari cover) on the edge of a magnetic high that bears similarities to the Ourea and Quirinus copper deposits identified by Discovery Metals in 2009. These deposits are interpreted to be on the limbs of tight anticlines
– Previous work by Kavango identified an AEM conductor in this area extending over approximately 8km and 400m at its widest. This coincides with the geochemical northern zone identified in this latest work
Ahead of drilling, Kavango has completed an additional infill soil sampling programme, designed to increase the Company’s understanding of both zones and the surrounding prospective area. In total, Kavango collected an additional 314 samples on infill lines. This reduced line spacing in the high prospectivity areas to 400m from 800m and added to the existing data set of 3,182 samples previously taken.
The new data has enhanced the two existing discrete copper anomalies as follows:
– Confirmation of elevated copper readings along the Central Zone further strengthens the target’s prospectivity
– Strike extent of the Northern Zone increased to 9km from 8km and the maximum width has been widened to 650m from 400m, which may comprise up to 3 separate parallel anomalies with a peak value of 43ppm Cu (pXRF values)
The infill soil sampling has also identified an additional 1.25km long copper anomaly, which the Company has designated the “Middle Zone”:
– Located between the existing Northern Zone and Central Zone, with a peak value of 35ppm Cu (pXRF values)
– The Middle Zone aligns with the regional geological trend (NE/SW) and straddles a geological contact between two integral units of the D’kar formation.
Next steps for PL082/2018
Kavango is in the process of mobilising CSAMT equipment to PL082/2018 and expects to complete up to 17 line-km of surveys to provide resolution of the anticipated anticline structure and to ensure optimal drill orientation.
The Company intends then to follow up with an RC drill programme, as the first phase of its comprehensive KCB drill strategy (announced >>> 27 September 2022). Kavango has identified 188 drill collar locations so far across the KCB and aims ultimately to complete up to 37,600m of RC and diamond drilling.
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
bturney@kavangoresources.com
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
Nick Emerson
Kavango Competent Person Statement
The technical information contained in this announcement pertaining to geology and exploration have been read and approved by Brett Grist BSc(Hons) FAusIMM (CP). Mr Grist is a Fellow of the Australasian Institute of Mining and Metallurgy with Chartered Professional status. Mr Grist has sufficient experience that is relevant to the exploration programmes and geology of the main styles of mineralisation and deposit types under consideration to act as a Qualified Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.