First Class Metals PLC - Blackburn, England-based mineral exploration company focused on projects in Ontario, Canada - Says Palladium One Mining Inc has completed the requirements for earn-in rights to gain an 80% interest in the West Pickle Lake project, formerly known as Pezim II. West Pickle Lake returned "very high" nickel and copper sulphide drill intercept levels during Palladium One's 2022/23 drilling campaign, and has potential for extension onto FCM's wholly-owned North Hemlo project. First Class Metals said a joint venture now will be instituted; Palladium One will continue as the project's operator.
Chief Executive Officer Mark Sale says: "The obvious merit of the exploration potential of the Pezim II block and environs has been validated by Palladium One exercising their right to enact the JV. With a robust field programme in progress, we share their enthusiasm for the newly identified extensive anomalous nickel-copper zone. Furthermore, FCM is actively exploring the contiguous 100% owned areas for similar potential and this will include the OnGold area to the north."
Current stock price: 9.60 pence, up 3.2% on Tuesday in London
12-month change: up 3.8%
By Emma Curzon, Alliance News reporter
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