Traders Cafe with Zak Mir: First Class Metals

First Class Metals:

First Class Metals is a minerals exploration company mainly targeting, noble metals (Gold Silver Copper)  Nickel , Platinum, Platinum Group metals (Palladium), Zinc for discoveries with significant growth potential through future expansion along known existing major mineralised trends. The company is listing soon on the standard market LSE with a low market capital of £7m pre new monies and holding cash funds of around £500k into the IPO fund raise.

As the market demand these days, FCM promotes strong leading-edge environmental, ethical and economic values with a focus on engagement of the First Nation communities.

First Class Metals assets are all based within a world class mining region, Schreiber-Hemlo Greenstone Belt, Ontario, Canada. Majors including Teck Resources Ltd, Newmont Mining Corp, Generation Mining and Barrick Gold are all active in the highly prospective and under explored mineral rich, ore deposit containing area. Canada’s region of Ontario provides around thirty percent of the global market of nickel. Of course, as we have seen in the wake of the Ukraine conflict, companies in safe jurisdictions are becoming all the more valuable.

The assets land mass covers an impressive total of 176km² with 857 mining claims across seven distinct projects offering diversity, with North Hemlo being the flagship property. This is providing superb value for investors due to the prime location and therefore showing a clear indication of the high calibre that is held within the boardroom.

Assets:

North Hemlo is the flagship asset with Pickle Lake the current primary target. Located north of the  Barrick Williams Gold mine. The JV with Palladium One Inc VTEM survey discovered a large potential Nickel/Copper anomaly. This will become the near term value generator for investors as it is planned to start a drilling campaign around the time the company is listed.

The adjacent tenements owned by Panther Metals & Palladium One Inc particularly have already discovered high grade Nickel (Smoke Lake, world class, double figure nickel percentages across multiple drill holes), Copper & Gold  surely FCM should follow suit.

A full exploration program is planned for the Summer of 2022 at North Hemlo, with the aim to delineate targets for drilling of their own in later part of the year.

The ESA property, has exciting potential with east to west shear zone suitable for gold bearing mineralisation. Will be worked on 2022/23 to follow up encouraging results from the 2021 field season.

McKellar: located close to the new 8.6m Oz of Palladium deposit at Generation Minings new Marathon mine, with strong showings of ultra high grade Silver Zinc Copper and rare earths found all around the tenement. Work is also planned for 2022.

Magical: located 9km west of Barrick Williams mine 23m Oz Gold. High grade silver showing to the Northwest and Gold to the North. It is worth noting Barrick will be undertaking a 2022 drilling campaign west of their Gold mine in the direction of Magical. The border area of Magical is said to have caught the eye of geologists. Therefore, it is worth keeping an eye on Barrick's results to see how this develops.

Coco East: Gold Silver Copper & Zinc showing all around the prospect. Work will be started in the summer of 2022 when access is best.

Enable:  Adjacent to Panther Metals tenements,  showing high grade Gold & Silver. Again, work will be started in the summer of 2022 when access is best.

Sugar Cube: has the potential for a North to South mineralised trend close to the Greenstone belt. Located adjacent the Sugar Harte zone and the Harte gold mine (1..1m Oz).

It is interesting that Harte is under recent new ownership who have recently stated that they intend to embark on a wider exploration program with the potential to grow put into a ‘district scale operation"

The company is in the process of booking a high definition Helicopter VTEM geophysics survey of the entire property for the Spring and will look to follow up priority targets thereafter.

Senior Management:

CEO Marc Sale:  As a ‘Competent Person’ he is accomplished in preparation of Company reports and overseeing JORC/ NI43-101 reporting"  with over 25 years experience as a Geologist.

Finance Director Darnesh Varna: Varna is a Chartered Professional Accountant with over 35 years of experience in the mining finance industry and is also a Director with Labrador Iron mines holdings Ltd.

Executive Chairman James Knowles: Knowles is a corporate professional who has enjoyed a twenty five year career in the financial sector, as well as being a resources company investor.

Power Metal Resources (POW): sold its Schreiber-Hemlo  interests to First Class Metals Ltd. The consideration was £1mln, payable through the issue of 333,334 new ordinary shares at 300p each. Power Metal is also to invest C$50,000 to acquire 9,588 additional First Class shares. Power Metal's holding in First Class will then amount to 342,922 shares or around 36% pre IPO.