REG - Fulcrum Metals PLC - Assay values of up to 1.62g/t Au at Teck Hughes

Fulcrum MetalsAnnouncement

15/10/2025 07:00

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RNS Number : 3799D  Fulcrum Metals PLC  15 October 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("UK MAR").

 

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

 

 

15 October 2025

 

 

Fulcrum Metals plc

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

 

Fulcrum reports assay values of up to 1.62g/t Au at the Teck Hughes tailings
project

 

Fulcrum Metals plc (AIM:FMET), a company pioneering the use of innovative
cyanide free technology to recover precious and critical metals from mine
waste, is pleased to provide an interim update on the progress of the augur
drill program underway at the Company's highly prospective Teck Hughes
tailings project in Kirkland Lake, Ontario.

 

Photon gold assays have been returned for 94 augur drill holes reporting gold
from surface from the already mined tailings with gold intersections of up to
1.62g/t. The samples are now at Actlab for comparative Gold Fire Assay and
ICP-MS Ultratrace 4 multi-element assay which includes silver, gallium and
tellurium. Additional augur drill holes are planned to assist with delineation
of the bottom floor of the tailings and for sampling of deeper drill holes
over 6 metres.

 

The systematic augur drilling campaign is running in parallel with the Phase 3
metallurgical optimisation test work with Extrakt Process Solutions LLC
("Extrakt") to support a Mineral Resource Estimate ("MRE"), 43-101 technical
report and the Phase 4 Preliminary Feasibility Study ("PFS") level economic
assessment.

 

Gold Highlights

 

·    94 holes have been drilled with samples averaging 0.65g/t gold from
surface

·    33% of the drill holes reporting in excess of 0.7g/t gold

·    Best hole averages 1.02g/t gold over 4.75 metres

·    Best intersection 1.62 g/t gold over 0.8 metres

·    Deepest hole measured at 12.4 metres

·    Results indicate higher grade Southwest area

·    0.65g/t gold average to date may not be indicative of final resource
grade as this includes holes designed to test for boundary contact of the
tailings

·    Additional depth test holes and tailings sampling is ongoing for
deeper holes

 

The best five hole results were:

 

 Hole      Metre From  Metre To  Metres  Gold g/t CPA-AU1
 TH-135-4  0.00        4.75      4.75    1.02
 TH-185-7  0.00        5.90      5.90    1.01
 TH-335-4  0.00        5.60      5.60    0.95
 TH-560-9  0.00        2.70      2.70    0.94
 TH-110-6  0.00        7.90      7.90    0.85

 

The best five intersection results were:

 

 Hole      Metre From  Metre To  Metres  Gold g/t CPA-AU1
 TH-335-4  4.00        4.80      0.80    1.62
 TH-185-7  4.00        5.00      1.00    1.53
 TH-510-3  1.00        1.45      0.45    1.41
 TH-335-4  4.80        5.40      0.60    1.40
 TH-460-3  0.00        0.40      0.40    1.37

 

 

Ryan Mee, Chief Executive Officer of Fulcrum, commented:

 

"The initial gold assay results underpin our confidence for the Teck Hughes
tailings project given the high grades and depth of holes we have drilled to
date. The drill holes are reporting gold from surface from already mined
tailings material ready for processing. The results also suggest higher grade
areas which can be incorporated into the site management plan as we move
towards production.

 

Fulcrum has made great progress thus far and I look forward to updating
shareholders on additional drill holes, plus assay results for silver,
tellurium and gallium."

 

 

 

Map of auger holes and gold grades

 

 

Teck Hughes characterisation programme

 

The auger drill programme will provide detailed data for minerology and
support a MRE, which will mark a major step forward in advancing the Teck
Hughes project towards production. Photon gold assays have been returned for
94 augur drill holes which have provided best assay results of 1.62g/t over
0.8 metres, best hole results of 1.02g/t over 4.75 metres from surface and the
deepest hole measured is 12.4 metres. The samples are now at Actlab for
comparative Gold Fire Assay and ICP-MS Ultratrace 4 multi-element assay for
critical mineral and rare earth potential review including Silver, Gallium and
Tellurium. Additional augur drill holes are planned to assist delineate the
bottom of the tailings and additional retrieval of core for deeper drill holes
over 6 metres for further analysis.

 

Phase 3 testing is also underway with Extrakt and their proprietary cyanide
free leach and solid-liquid separation TNS(TM) technologies will provide
detailed metallurgical data to process the tailings. This includes optimising
and scaling up resource recovery, maximising yield and process efficiency,
tailings dewatering and recovery of water and reagents. Results of the Phase 3
test work are expected in or around December 2025 for review and analysis by
Fulcrum.

 

These workstreams are running parallel and provide the basis for a MRE, a
43-101 technical report and a phase 4 PFS level economic assessment with
Extrakt.

 

 

 

 

 

Technical Glossary

 Au                   Gold
 g/t                  grams per metric tonne
 CPA-AU1              Gamma-ray analysis of sample for gold by Photon Assay instrument

 Fire Assay           An assay procedure involving heating the sample in a furnace to ensure
                      complete extraction of all the contained precious metal

 ICP Analysis         Inductively Coupled Plasma - an analytical technique that can be used to
                      measure elements at trace levels

 ICP-MS Ultratrace 4  Four acid near-total sample digestion followed by ICP-MS multi-element
                      analysis

 

 

Qualified Person Statement

The technical information in this announcement has been reviewed by Edward
(Ed) Slowey, BSc, PGeo, technical advisor to Fulcrum Metals Plc. Mr Slowey is
a graduate geologist with more than 40 years' relevant experience in mineral
exploration and mining and a founder member of the Institute of Geologists of
Ireland. Mr Slowey has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the activity
which has been undertaken to qualify as a "Qualified Person" in accordance
with the AIM Rules Guidance Note for Mining and Oil & Gas Companies. Mr
Slowey consents to the inclusion in the announcement of the matters based on
their information in the form and context in which it appears.

 

FOR FURTHER INFORMATION

Visit: www.fulcrummetals.com (http://www.fulcrummetals.com)

Follow on X: @FulcrumMetals

Contact:

 

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

 Allenby Capital Limited (Nominated adviser)
 Nick Athanas / Daniel Dearden-Williams       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 listed technology led natural
resources company focused on recovery of precious metals from mine tailings
(previously milled and processed ore) in Canada using environmentally friendly
leaching technology developed by Extrakt Process Solutions LLC and its
associates (together "Extrakt").  The Company's projects are the tailing
sites of the former Teck-Hughes and Sylvanite gold mines, located at the
Kirkland Lake region in Ontario. In addition, the Company has interests in a
portfolio of highly prospective mineral exploration and development projects
in both Ontario and Saskatchewan Canada.

 

Fulcrum has exclusive rights to use Extrakt's proven cyanide free technology
on gold mine waste sites over the mining districts of Timmins and Kirkland
Lake. These are two of Canada's biggest gold camps with a historical
production above 110Moz over the past 100 years, leaving and more than 70
documented legacy mine waste sites. Fulcrum thus has the opportunity to become
a significant, environmentally friendly, near-term gold producer.

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