When did First Class Metals PLC announce the Sunbeam Property drilling update?

First Class Metals PLC announced the drilling update on 2 March 2026. The announcement covers progress at the Roy prospect, together with related drilling, survey and LiDAR work on the Sunbeam Property.

What does First Class Metals PLC do and where is the Sunbeam Property located?

First Class Metals PLC is a UK listed company focused on the discovery of economic metal deposits across exploration properties in Ontario, Canada. The Sunbeam Property is about 230km west of Thunder Bay and roughly 30km northeast of Atikokan, and is accessible 40km north off highway 11 by the Premier Lake gravel road.

How much drilling has First Class Metals PLC completed at the Roy prospect?

First Class Metals PLC said 5 holes had been completed for approximately 490m at the Roy prospect. The company said all five holes had intersected potential mineralised structure(s), although assay results were not yet available.

How much drilling does First Class Metals PLC plan at the Sunbeam Property?

First Class Metals PLC anticipates drilling a minimum of 1,000m on the Sunbeam Property, with the current programme consisting of 11 holes. The company said the planned programme is centred around the historic shafts near the 18.8g/t channel samples and outcrop containing visible gold.

When will First Class Metals PLC resume drilling at the Sunbeam Property?

First Class Metals PLC said the planned 1,000m programme had paused for the Prospectors and Developers Association of Canada convention and would recommence on or about the 7th March. The company said drilling began with hole SUN-26-01, a twin of historic hole SP-11-12.

What has First Class Metals PLC said about the initial drilling observations at Roy?

First Class Metals PLC CEO Marc J. Sale said the drilling had progressed very satisfactorily and that he was visually encouraged by the deformation and associated veining. He also said that, without assays, the technical team was relying on a visual assessment of the prospectivity, while remaining enthusiastic and positive at that stage.

Why is First Class Metals PLC using new drill azimuths at the Roy prospect?

First Class Metals PLC said most holes would use a new azimuth different from the historical 150o orientation. The company said it believes the new azimuth and angle are better suited to intersecting mineralisation, based on its structural understanding from ground observations and a review of historical geological and drill data.

What results has First Class Metals PLC reported from the VLF and magnetic survey?

First Class Metals PLC said the central grid of the combined VLF and magnetic survey had been completed for 192 stations over a combined 3.8km of line survey. The data was being reprocessed because the initial processing was deemed unsatisfactory.

What has First Class Metals PLC reported from the LiDAR work at Sunbeam?

First Class Metals PLC said LiDAR information for the Sunbeam Property and surrounding area remained under interpretation by a third-party consultant. The company described the initial findings as encouraging and said they supported the concept of gold 'hotspots' and structural intersections.

How large is First Class Metals PLC's Sunbeam Property and what is its regional setting?

First Class Metals PLC said the Sunbeam Property now extends to almost 100km2 and lies between two Agnico Eagle properties, both of which have gold discoveries. It is about ~15km from the Hammond Reef gold deposit, for which open pit probable mineral reserves are estimated to be 3.3 million oz. of gold (123.5 million tonnes grading 0.84 g/t gold (Au)).

What historic developments and mineralised structures are present on First Class Metals PLC's Sunbeam Property?

First Class Metals PLC said the property contains three historic development sites: Sunbeam, Roy and Pettigrew, with Sunbeam described as the most exploited and the only site with recorded production. The company also identified other gold-bearing sites, including Road zone and AL 308, while saying a potential fourth lineation, the Burger structure, had not yet been explored by FCM.

What is the status of First Class Metals PLC's Ontario Junior Exploration Programme application?

First Class Metals PLC said it remained optimistic about its application for a fourth consecutive maximum grant under the Ontario Junior Exploration Programme. The announcement did not state that the grant had been awarded.

Where do First Class Metals PLC shares trade?

First Class Metals PLC said it was listed on the LSE in July 2022. The announcement does not provide a ticker symbol for First Class Metals PLC.

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First Class Metals Reports Roy Drilling Progress at Sunbeam Property

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First Class Metals PLC

LSE:FCM
OTC:FCMXF

First Class Metals Reports Roy Drilling Progress at Sunbeam Property

Published Monday, 02 March 2026, 07:00 AM

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At a glance

Company: First Class Metals PLC
Listings: LSE:FCM, OTC:FCMXF
Announcement type: Exploration results
Published: Monday, 02 March 2026, 07:00 AM
Source announcement: investegate.co.uk

Key figures
Measure	Figure
Channel samples	18.8g/t

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Announcement Summary

First Class Metals PLC (FCM) provided an update on drilling at the Roy prospect on its Sunbeam Property.

Five holes have been completed for approximately 490m; CEO Marc J. Sale said all have intersected potential mineralised structures to date.
The company anticipates a minimum of 1,000m on Sunbeam; the current drill program consists of 11 holes.
The drilling paused for the PDAC convention and will recommence on or about the 7th March; early-March drilling will include a new azimuth and structural hole.
Without assays, the company said technical staff are relying on visual assessment of the prospectivity.
The central VLF and magnetic survey covered 192 stations over 3.8km; the data is being reprocessed because initial processing was deemed unsatisfactory.
LiDAR information remains under interpretation by a third-party consultant; initial findings support gold hotspots and structural intersections.

Sunbeam is contiguous with two Agnico Eagle (NYSE:AEM) properties and lies about ~15km from Hammond Reef, with open pit probable mineral reserves of 3.3 million oz. of gold. FCM remains optimistic about its OJEP application for a fourth consecutive maximum grant.

Investor FAQs

First Class Metals PLC announced a drilling update for the Roy prospect on the Sunbeam Property in Ontario, Canada. The company said 5 holes had been completed for approximately 490m, with a minimum of 1,000m anticipated and the programme currently consisting of 11 holes.

Source announcement

Company: First Class Metals PLC
Title: Sunbeam Property Drilling Update
Published: Monday, 02 March 2026, 07:00 AM
Source site: investegate.co.uk

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