RCS - Fulcrum Metals PLC - Publication of Investor Initiation Note

Fulcrum MetalsAnnouncement

09/01/2025 07:00

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RNS Number : 6556S  Fulcrum Metals PLC  09 January 2025

Fulcrum Metals plc / EPIC: FMET / Market: AIM / Sector: Mining

 

 

Reach Announcement

9 January 2025

 

 

Fulcrum Metals plc

("Fulcrum" or the "Company" or the "Group")

 

Publication of Investor Initiation Note

 

Fulcrum Metals plc (LON: FMET), a technology-led natural resources company
focused on mineral exploration and development in Canada, is pleased to
announce that Optimo Capital Limited has published an investor initiation note
on the Company (the "Note").

 

The initial coverage is an invaluable resource for investors, offering
detailed insights into the Company's current operations, growth trajectory,
and potential size and scale of the Canadian tailings market, underscoring its
vast untapped potential and the opportunities for Fulcrum to deliver long-term
value.

 

The Note also showcases the transformative impact of the Company's management
team, who have strategically diversified the Company's business model.

A copy of the Note is available to view and download on the Company's website
at https://fulcrummetals.com/investors/research-reports-presentations/
(https://fulcrummetals.com/investors/research-reports-presentations/) and at
https://www.optimocapital.co.uk/s/Fulcrum_Metals_Initiation_Optimo_Capital_January_2025-hnbm.pdf
(https://www.optimocapital.co.uk/s/Fulcrum_Metals_Initiation_Optimo_Capital_January_2025-hnbm.pdf)

You can also sign up for updates from Fulcrum Metals plc at
www.fulcrummetals.com/rns-alerts/ (http://www.fulcrummetals.com/rns-alerts/)

Ryan Mee, Chief Executive Officer of Fulcrum, commented:

"I am delighted to start 2025 with the publication of this research note,
which we hope will provide investors with some clarity and transparency on
what we have achieved at Fulcrum to date and perhaps more importantly the
value we are looking to build for all shareholders.  Through our partnership
with Optimo, and as we evolve as a Company, it is our intention to provide
investors with more regular research notes to showcase our business and
highlight the investment strategy it represents."

For further information please visit https://fulcrummetals.com/
(https://fulcrummetals.com/) or contact:

 Fulcrum Metals PLC
 Ryan Mee (Chief Executive Officer)           Via St Brides Partners Limited

 Allenby Capital Limited (Nominated adviser)
 Nick Athanas / George Payne                  Tel: +44 (0) 203 328 5656

 Clear Capital Markets Limited (Broker)
 Bob Roberts                                  Tel: +44 (0) 203 869 6081

 St Brides Partners Ltd (Financial PR)
 Ana Ribeiro / Paul Dulieu                    Tel: +44 (0) 20 7236 1177

 

 

Notes to Editors

 

About Fulcrum Metals PLC

 

Fulcrum Metals PLC (AIM: FMET) is an AIM quoted technology-led natural
resources company focused on mineral exploration and development in Canada.
The Company has a portfolio of highly prospective assets at different stages
of development but it's focus is the processing of tailings (mine waste),
using Extrakt's technology, at Teck-Hughes and Sylvanite Tailing projects,
located in Kirkland Lake, Ontario.

 

Fulcrum is in advanced discussions with Extrakt Process Solutions and their
associates for exclusivity of Extrakt's gold leaching technology for legacy
mine waste sites for the mining regions of Timmins and Kirkland and Ontario.
These are two of Canada's biggest gold camps with over 110Moz of gold produced
and over 70 documented legacy mine waste sites.

 

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Teck-Hughes Gold Tailings Project

 

Located in Kirkland Lake, Ontario, Canada, the Teck-Hughes gold tailings
project is mine waste from the historical gold mine which milled circa 9.6
million tonnes of ore and produced circa 3.7 million ounces of gold between
1917 and 1968. Historic sampling and auger drilling campaigns were initially
conducted at the Project in 1980 and most recently between 2018 and 2022,
which produced a non-complaint resource estimate totalling 6,531,300 tonnes of
material at 0.66g/tonne Au for 138,460 ounces contained Au*.

 

Fulcrum resampled six historical auger holes which returned gold grades +16.9%
higher than the historical values. Four new auger hole sites returned an
average of 0.65g/t Au (gold) and 1.3g/t Ag (silver) and 12.8g/t Te (tellurium)
which were assayed for the first time, with Te being recognised by Canada as a
Critical Mineral.

 

Initial Batch leach testing with Extrakt Leach Technology achieved significant
gold recovery rates of up to 59.4% in leach times as little as 3 hours on an
unoptimised basis.

 

 

Sylvanite Gold Mine Tailings Project

 

The Sylvanite Gold tailings project is the mine waste generated by an
ex-producing mine strategically located 3km from Teck-Hughes gold tailings
project. The fourth largest producing mine in the Kirkland Lake gold camp, the
mine milled 4.58 million tonnes of ore and produced 1.67 million ounces of
gold between 1927 and 1961. A 1986 report filed on the property estimated a
tailings resource of 4.52 million tons (4.14 million tonnes) grading 0.015
oz/ton Au (0.47g/t Au) containing 67,051 ounces of gold*.

 

An Auger drilling campaign in 2008 reported an average 0.541g/t gold from 20
fully sampled holes, whilst Cyanide leach tests achieved on average c.30% gold
recovery over a leaching time of 48 hours.

 

Bulk concentrating in 2012 achieved a cleaner concentrate from in-situ grades
of 0.5g/t gold, 1g/t silver and 7.5g/t tellurium to 21.5g/t gold, 14.1g/t
silver and 152g/t tellurium. Silver and tellurium had not been assayed prior
to this.

 

Fulcrum resampled seven historical auger holes which returned gold assays in
line with historical assays and six new auger sites that reported an average
0.58g/t gold, 1.1g/t silver and 13.9g/t tellurium.

 

Initial Batch leach testing with Extrakt Leach Technology produced significant
results with gold recovery increasing by upto 63% (from 30% to 49%) and upto a
94% reduction in leaching times (from 48 hours to as little as 3 hours) on an
unoptimised basis.

 

Exploration Portfolio

 

Fulcrum have a portfolio of highly prospective exploration assets in Ontario
to either develop or seek disposal/partner opportunities which includes the
Big Bear Gold project in Schreiber-Hemlo with multiple drill targets and
multiple gold samples over 10g/t and the Tully Gold project in Timmins with a
43-101 compliant resource of 107k ounces drill permitted for expansion.
Fulcrum successfully optioned out a portfolio of Saskatchewan Uranium projects
(see RNS 30 July 2024) to Terra Balcanica Resources (CSE:TERA).

 

*The historic non-compliant resource estimates cited in this release have not
been verified by Fulcrum and the tailings bodies require detailed follow-up
sampling along with appropriate QAQC and estimation by an independent
qualified resource geologist for Fulcrum to be able to report resources
compliant with established resource codes.

 

 

 

 

 

 

 

 

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