First Metals Drilling Confirms Fabie Copper Deposit
11:21 EDT Monday, September 25, 2006
TORONTO, ONTARIO--(CCNMatthews - Sept. 25, 2006) - First Metals Inc. (TSX:FMA) is pleased to report on the results of three (3) confirmation drill holes completed on the Fabie Bay Volcanic Massive Sulphide (VMS) Copper Deposit in the Noranda Camp.
Management is very encouraged by the favorable widths and grades that confirm the continuity of the deposit. The initial hole was drilled at -58 degrees to supplement hole H04-01 carried out by Globex (TSX:GMX), which intersected the Fabie Bay Massive sulphide lens at a down-hole depth of 125-128m and returned a weighted average grade of 3.4% Cu along a drill core length of 3.7m (or 3.3m estimated true width.) Each of the holes was approximately 180- 200m in depth, and each intercepted massive and semi-massive sulphide mineralized zones, as follows:
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Hole # Dip From (m) To (m) Intersection (m) Cu Grade
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H04-01 -58 degrees 125m 128m 3.7m 3.4%
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FMI-06-02 -45 degrees 122m 134m 11.6m 1.5%
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FMI-06-03 -45 degrees 122m 133m 11m 2.8%
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FMI-06-04 -58 degrees 120m 145m 28.8m 2.9%
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Drill holes H04-01 and FMA 06-02 were drilled at the same location and FMI-06 03 and 04 were drilled on section, 15 m to the west. The drilling was carried out by Forage Benoit Ltee, and the assays were processed at Expert Laboratory Inc. in Rouyn-Noranda.
The diamond drill program had multiple purposes: to verify the historic grades and widths of the deposit and validate the historic data and interpretation; to provide new core samples for both rock mechanics and metallurgical test work; and also to provide additional data input for the upgrading of the National Instrument Policy 43-101 resource calculation to a reserve calculation. The Technical Report on the Mineral Resource Estimate for the Fabie Bay Property, prepared by Micon International Limited, states that there is an in-situ inferred resource of 672,800 tonnes grading 2.77% copper.
SGS Lakefield Research Limited has been retained to complete the metallurgical test work on the 50% split of the NQ core and the related Certificate of Approval to deposit tailings, which will be required prior to any custom milling.
The technical content of this news release has been reviewed for accuracy and content by Charles Gryba, P.Eng., First Metals Inc., C.O.O. and a Qualified Person under National Instrument 43-101. First Metals Inc. is a junior exploration company listed on the TSX Exchange with 30,832,555 shares issued and outstanding.
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