t
| Date | 26 Oct 2026 |
| Time | 07:00:09 |
| Category | Corporate updates |
| ID | 3299A |
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
FIRST CLASS METALS PLC
26 October 2026
Roy northeast extension, update on sample results
First Class Metals PLC ("FCM" or the "Company") the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada, is pleased to report further assays on the Roy extension, approximately 1.1 km along strike from the historic Roy shafts.
Highlights
· Further high-grade gold results strengthen the Roy visible gold discovery, with the structure hosting the previously reported ultra-high-grade grab sample of 32,100g/t gold, has now been geochemically confirmed over approximately 300 metres. Follow-up sampling returned eight grab samples exceeding 5g/t gold, including a peak of 17.3g/t, with further visible gold ('VG') identified near the original discovery.
· Significant scope to extend the known gold mineralisation along the Roy trend, with the new zone approximately 1,100 metres northeast of the historic Roy shafts and open along strike in both directions.
· Results reinforce confidence in FCM's exploration model, which successfully targeted the discovery by integrating soil geochemistry, LiDAR interpretation, structural geology and historic exploration data. This success supports the application of the same approach to further targets across the wider Sunbeam property.
· Exploration progressing towards systematic assessment of the discovery, with a backhoe contractor engaged to establish access and commence stripping at the Roy extension, preparing the zone for washing, geological mapping and systematic channel sampling.
· Drilling planned to advance exploration of the Pettigrew trend, with a drill rig expected to be mobilised to site around the end of October to commence a drilling programme.
Marc J. Sale CEO First Class Metals Commented:
"Prospecting along strike to the south from the ultra-high grade (visible gold) sample has produced further high-grade samples. The results define a ~300m strike of >1ppm gold ('Au'). Systematic prospecting / exploration is yet to be conducted along strike to the northeast and to the southwest inferring potential for further strike extent.
These positive geological advances 1100m metres from the Roy shafts, at a targeted zone based on our exploration rationale, is extremely positive for the future exploration of not only the Roy trend but the whole Sunbeam property.
The reported robust gold values over a significant strike at the VG zone are forming the basis for a new gold discovery on the Sunbeam property"
For more information navigate to our Interactive Investor hub here: https://firstclassmetalsplc.com/link/r6wRwP
Prospecting the Roy trend extension
Exploration along the Roy trend has focused on areas of the interpreted Roy lineament where both LiDAR structures intersect the lineament as well as anomalous gold and lead in soils, see Figure 1.
Figure 1 showing the Roy trend with the anomalous soil samples as well as known LiDAR structures.
Prospecting one of these targets, over one kilometre northeast of the Roy drilling and shafts, revealed the phenomenal grab sample of >30,000ppm, previously reported, see Figure 2.
Figure 2 showing the VG assaying 32,100ppm, 1,100m northeast of the Roy drilling.
Several historic 'blast pits' were also seen in the area, though there were no obvious signs of exploitation, unlike those a further two and three kilometres respectively northeast, BG43 and BG45.
At the original VG outcrop / ultra-high-grade sample, several more cases of visible gold in the immediate vicinity were identified and preserved as specimens. Detailed systematic sampling will be conducted as part of a planned stripping campaign.
Further prospecting of the Roy northeast zone, in the area of the VG / soil anomalies resulted in the identification of several outcrops 'on strike' of quartz as well as sheared host rock which were sampled, see Figure 3.
The prospecting programme will, as time / weather allows be extended along the Roy lineament further to the northeast, initially to the limit of the soil sampling / VLF grid.
It is anticipated that the interpretation of the geophysical work now completed by Rosor will aide focussing the exploration effort.
A similar approach will be mounted on the Pettigrew grid.
Figure 3 showing the distribution of anomalous soils as well as grab samples on the Roy trend, specifically new grabs in the NE zone.
The follow-up prospecting described above has delivered a strong concentration of high-grade gold results, reinforcing the significance of the Roy visible gold discovery.
Of 21 outcrop samples collected over more than 100 metres along the trend, 17 returned at least 0.5g/t gold, including eight exceeding 5g/t and a peak of 17.3g/t. Located broadly between two soil lines anomalous in both gold and lead, these results demonstrate that gold mineralisation extends well beyond the original visible gold discovery and highlight the substantial exploration potential of this emerging zone, see inset Figure 4.
Figure 4 showing the gold (sample) distribution along the trend and detail of the gold assays of the northeast Roy trend.
Exploration Potential and Next Steps.
The consistent return of strong gold values along the trend marks an important step forward.
The area north of the ultra-high-grade visible gold sample has seen limited systematic prospecting, providing further scope to extend the discovery. Likewise, the southwest extension of the trend towards Lequyer Lake and the Roy shafts has seen little prospecting.
FCM has now established a gold anomaly extending over approximately 300 meters, 1,100 metres northeast of the historic Roy shafts. The zone remains open in both directions, reinforcing the prospectivity of the Roy trend.
Chris Copper consulting geologist to FCM stated "This is epic. Pretty rare to see grabs of this type over 300m. Seriously a company maker. Last time I saw VG like this was a long time ago."
A local contractor has been engaged to establish access to the visible gold zone and strip vegetation and overburden, with the aim of exposing continuous bedrock for subsequent washing, geological mapping and systematic channel sampling.
The discovery of this extensive gold anomaly more than one kilometre along strike from Roy strengthens the exploration potential of both the intervening ground and the wider Roy trend. Future prospecting will extend northeast along the soil and VLF survey grid, and southwest towards the Roy drilling area.
The success of this exploration approach also supports further investigation of the Pettigrew and Sunbeam trends, where similar targeting methods may identify additional mineralised zones.
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 30 years 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.
Glossary of Technical Terms
This glossary defines geological, drilling, sampling and geophysical terms used in mineral exploration reporting.
|
Term |
Explanation |
|
Along Strike |
In the direction of the horizontal extent of a geological structure or mineralised zone. |
|
Alteration |
Chemical changes to rock caused by mineralising fluids, often associated with ore-forming processes. |
|
Assay |
Laboratory analysis used to determine the concentration of metals within a rock sample. |
|
Au |
The chemical symbol for gold. |
|
Azimuth |
The compass direction in which a drill hole or geological feature is oriented, measured in degrees from north. |
|
Bedrock |
Solid rock beneath soil, glacial sediments or other loose surface material, which may also be exposed at surface. |
|
Channel Chip / Chip Channel Sample |
A rock sample collected by systematically chipping material along a continuous, measured channel across exposed bedrock, usually using a hammer and chisel. A consistent channel width and depth are sought to improve sample representativeness. |
|
Channel Cut / Cut Channel Sample |
A rock sample removed from a continuous groove cut into exposed bedrock, commonly using a rock saw, over a measured interval. The defined channel helps control the amount of material collected along the sample. |
|
Channel Sampling |
Systematic collection of rock along a continuous channel cut across an exposed geological feature, with samples taken over measured intervals to assess metal content. |
|
Core |
Cylindrical rock recovered during diamond drilling, used to examine geology and mineralisation. |
|
Diamond Drill Hole (DDH) |
A hole drilled using a diamond drill bit to recover continuous rock core for geological logging, sampling and analysis. |
|
Fire Assay (FA) |
The industry-standard laboratory method that uses high-temperature fusion to separate and concentrate precious metals, such as gold and silver, for accurate measurement. Typically, only a small sub-sample (commonly 50 g) is analysed. |
|
Float / Float Sample |
Loose rock fragments detached from their original bedrock source and potentially moved by ice, water or gravity. A float sample is collected from this loose material; its original source may be uncertain and its assay may not represent nearby bedrock. |
|
Galena |
A lead sulphide mineral (PbS) that can be associated with precious metal mineralisation in some geological systems. |
|
Geochemical Anomaly |
A concentration of an element above the local background level in soil, rock or sediment. An anomaly may help identify exploration targets but does not by itself establish a mineral deposit. |
|
Geophysics |
The measurement and interpretation of physical properties of rocks, such as magnetism or electrical conductivity, to investigate geology and identify exploration targets. |
|
Grab / Grab Sample |
An individual rock sample collected from a selected location for analysis. Grab samples may be selective and their results may not represent the average grade of the surrounding rock or mineralised zone. |
|
Grade |
The concentration of a metal in a sample or body of rock. Gold grades are commonly expressed in grams per tonne (g/t). |
|
Grams per Tonne (g/t) |
A unit of metal concentration expressing the number of grams of metal in one metric tonne of material. For solid samples, 1 g/t is equivalent to 1 part per million (ppm). |
|
Host Rock |
The rock in which mineralisation or a geological feature, such as a quartz vein, occurs. |
|
LiDAR |
Light Detection and Ranging, a remote sensing technique that uses laser pulses to produce highly detailed maps of surface topography. |
|
Lineament |
A linear feature identified in topographic, remote sensing or geophysical data that may reflect an underlying geological structure, such as a fault or shear zone. |
|
Logging |
The detailed geological description and recording of drill core, including rock type, alteration and mineralisation. |
|
Mineralisation |
The occurrence of minerals containing metals of interest within rock. Mineralisation does not necessarily indicate an economically viable deposit. |
|
Mineralised Package |
A sequence of rocks containing minerals associated with potential economic metal deposits. |
|
Open Along Strike |
Describes a mineralised zone whose limits have not yet been established along its strike direction. Further exploration is required to determine whether the zone continues. |
|
Outcrop |
An exposure of bedrock at the ground surface. |
|
Overburden |
Soil, glacial sediment and other loose or weathered material covering bedrock. |
|
Parts per Million (ppm) |
A unit of concentration representing one part of a substance in one million parts of the material analysed. For solid samples measured by mass, 1 ppm is equivalent to 1 g/t. |
|
Photon Assay (PA) |
A non-destructive analytical method that uses high-energy X-rays to measure gold in a prepared sample, commonly around 500 g. Its larger sample mass can reduce sampling variability associated with coarse or visible gold. |
|
Prospecting |
The search for evidence of mineralisation through field examination of rocks and surface features, often supported by sampling. |
|
Quartz Vein |
A fracture or crack in rock that has been filled with quartz. Quartz veins are commonly associated with gold mineralisation. |
|
Sampling |
The collection of portions of rock, drill core, soil or sediment for laboratory analysis to determine metal content. |
|
Schist |
A metamorphic rock characterised by strong foliation and aligned mineral grains. |
|
Shear Zone |
A zone of rock deformed by movement between adjacent rock masses. Shear zones can provide pathways for mineralising fluids and may host mineralisation. |
|
Soil Geochemistry |
The collection and chemical analysis of soil samples to identify variations in element concentrations that may indicate nearby or underlying mineralisation. |
|
Strike |
The compass direction of a geological feature, such as a vein or shear zone, measured along its horizontal extent. |
|
Strike Length |
The horizontal distance over which a geological structure or mineralised zone can be traced. |
|
Stripping |
The removal of vegetation and overburden to expose bedrock for geological mapping and sampling. |
|
Structure / Structural Zone |
A geological feature, such as a fault or shear zone, that may control the movement of mineralising fluids and the location of mineral deposits. |
|
Till Sample |
A sample of unconsolidated glacial sediment collected to identify mineral grains or geochemical anomalies that may indicate mineralisation in the underlying or nearby bedrock. |
|
Tonalite |
A coarse-grained intrusive igneous rock similar to granite, commonly found in mineralised geological terranes. |
|
Very Low Frequency (VLF) |
A ground or airborne electromagnetic geophysical survey method that uses very low frequency radio signals from distant transmitters to detect conductive geological features, such as faults, shear zones or sulphide-bearing zones, that may be associated with mineralisation. |
|
Visible Gold (VG) |
Gold that can be seen with the naked eye in drill core or rock samples. Visible gold does not necessarily indicate economic grades but is considered a positive indicator in gold exploration. |
For further information, please contact:
James Knowles, Executive Chair
Email: [email protected]
Tel: 07488 362641
Marc J Sale, CEO and Executive Director
Email: [email protected]
Tel: 07711 093532
AlbR Capital Limited (Financial Adviser)
David Coffman/Dan Harris
Website: www.albrcapital.com
Tel: (0)20 7469 0930
Axis Capital Markets (Broker)
Richard Hutchinson
Website: Axcap247.com
Tel: (0)203 026 0449
First Class Metals PLC - Background
First Class Metals PLC listed on the LSE in July 2022 and is focused on metals exploration in Ontario, Canada which has a robust and thriving junior mineral exploration sector.
FCM currently holds 100% ownership of seven claim blocks covering over 260km² in northwest Ontario. A further three blocks are under option and cover an additional 60km². Two Joint Ventures also exist: West Pickle Lake (a drill-proven high-grade Ni-Cu project) and Zigzag
FCM is focussed on exploring for gold but has base metals and critical metals exploration projects.
The flagship properties, Sunbeam, and North Hemlo are gold focussed. North Hemlo has a significant discovery in the Dead Otter trend which is a discontinuous 3.5km gold anomalous trend with a 19.6g/t Au peak grab sample. This sampling being the highest known assay from a grab sample ever recorded on the North Limb of Hemlo.
In October 2022, FCM completed the option to purchase the historical high-grade past-producing Sunbeam gold mine near Atikokan, Ontario, ~15 km southeast of Agnico Eagle's Hammond Reef gold deposit (3.3 Moz of open pit probable gold reserves). The Sunbeam property is now 100% owned by FCM.
The Hemlo 'camp' near Marathon, Ontario is a proven world class address for gold exploration, featuring the Hemlo gold deposit previously operated by Barrick Mining (>23M oz gold produced), with the past producing Sugar Zone (>1M oz gold), Geco and Winston Lake base metal deposits also situated in the region.
FCM acquired the Zigzag Project near Armstrong, Ontario in March 2023. The property features Li-Ta-bearing pegmatites in the same belt as Green Technology Metals' Seymour Lake Project, which contains a Mineral Resource estimate of 9.9 Mt @ 1.04% Li2O. Zigzag was successfully drilled prior to Christmas 2023.FCM now owns 80% of the property and has entered into a JV with Nuinsco Resources Limited.
The significant potential of the properties for precious, base and battery metals relates to 'nearology', since all properties lie in the same districts as known deposits (Hemlo, Hammond Reef, Seymour Lake), and either contain known showings, geochemical or geophysical anomalies, or favourable structures along strike from known showings (e.g. the Esa project, with an inferred Hemlo-style shear along strike from known gold occurrences).
The Kerrs Gold property is located in northeastern Ontario within the Abitibi Greenstone Belt, one of the world's most prolific gold-producing regions. The project holds a historical inferred resource of approximately 386,000 ounces of gold, underscoring its potential as a meaningful addition to FCM's expanding gold portfolio. Kerrs Gold complements the Company's exploration strategy and provides exposure to a well-established mining district. FCM achieved 100% ownership of the property in H1 2026. In June 2026, FCM and nGRND Inc. (www.ngrnd.io) completed the closing conditions under a definitive Site Programme and Alternative Land Use Rights Agreement, establishing a non-dilutive monetisation framework while FCM retains full ownership of the project and its underlying mineral claims, together with exposure to future resource growth.
For further information see the Company's presentation on the web site: www.firstclassmetalsplc.com
Forward Looking Statements
Certain statements in this announcement may contain forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. Such forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as 'aim', 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', or other words of similar meaning. These statements are not guarantees of statements. Given these risks future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.