CANADIAN SECURITIES EXCHANGE: FE
U.S. 20-F Registration: 000-29870
OTC BULLETIN BOARD: ASKDF
FRANKFURT STOCK EXCHANGE: A2JC89
VANCOUVER, March 12, 2019 /CNW/ - First Energy Metals Ltd. ("First Energy" or "the Company") is pleased to announce that it has completed Phase 1 Drill Program at its Phyllis Cobalt Property (the "Phyllis Property") in Ontario. Two AW size (1.9 inches or 48.26 mm ID) diamond core drill holes were completed totalling eighty-two (82) metres drilled by Ombabika Development Corporation of Nipigon, Ontario (see attached map for drill hole location). The first drill hole was drilled at 60-degree angle towards 070-degree azimuth to a depth of 40 m, and the second hole was drilled vertical to a depth of 42 m.
Core logging by the exploration team indicates a fourteen (14)-metre-wide zone of strong sulphide mineralization including three (3) massive sulphide zones. The mineralization observed in the drill core consisted of massive to semi massive pyrite, chalcopyrite, and pentlandite. A total of twenty-eight (28) samples were taken from the core for cobalt-nickel-copper (Co-Ni-Cu) analysis. These samples were submitted to Activation Laboratories in Thunder Bay, ON and the results will be released as soon as available.
The program was aimed at testing the central Phyllis Cobalt Zone below surface to see the depth and size of the gabbroic intrusion and related cobalt -copper-nickel mineralization. All core samples were logged and split by hydraulic core splitter with one half sent to the lab for analysis and the other half stored securely in Nipigon. The core sample lengths were selected depending on geological boundaries and visual sulphide mineralization.
The drill program was a follow up of surface sampling and trenching work carried out by the Company in 2018. Surface sampling of the Phyllis Cobalt Zone indicated cobalt (Co) values in the range of 0.001% (10 parts per million "ppm") to 0.435% (4,350 ppm), copper (Cu) 0.03% to 0.602%, and nickel (Ni) 0.004% to 0.48% (See press release dated May 23, 2018). The trenching and channel sampling work included a 4m intersection with 0.08% Cobalt (Co) and 0.39% Copper (Cu), including 1m @ 0.24% Co, 0.39% Cu, and 0.19% Nickel (Ni) (See press release dated May 23, 2018). The mineralization is hosted within a highly altered and fractured gabbro.
Mr. Gurminder Sangha, CEO of First Energy Metals stated that, "We are pleased with the successful completion of the drill program. The mineralization intercepted in drill holes reflect good potential for a cobalt-nickel-copper discovery in the subsurface.
The technical information contained in this news release has been reviewed and approved by Alexander Pleson, P.Geo., a qualified person, as defined by NI 43-101 who works as consultant with the Company. The exploration work is being carried out under his supervision.
About First Energy Metals Limited.
First Energy Metals Limited is a junior resource company engaged in the exploration and development of energy metals such as lithium, cobalt, and graphite within its property portfolio in North America. The Company's goal is to acquire prospective technology metals properties and develop them. The Company currently holds an option to acquire 100% interest in Phyllis Cobalt property in Ontario, Canada, in addition to the recently optioned Russel Graphite Property in Gatineau area of Quebec. First Energy Metals Limited (formerly "Agave Silver ") was incorporated on October 12, 1966 in the Province of British Columbia. The Company's common shares trade on the Canadian Securities Exchange (CSE) under the symbol FE and are also listed on the US OTC Markets (Pink) as ASKDF and on the Frankfurt Stock Exchange as A2JC89.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
President & Chief Executive Officer
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
This news release may contain forward-looking information (as such term is defined under Canadian securities laws). While such forward-looking information is expressed by the Company in good faith and believed by the Company to have a reasonable basis, they address future events and conditions and are, therefore, subject to inherent risks and uncertainties. The Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities law
SOURCE First Energy Metals Limited
For further information: please contact the Company at: [email protected]