REG - Fulcrum Metals PLC - Commencement of Field Operations

Fulcrum MetalsAnnouncement

25/05/2023 07:00

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RNS Number : 5781A  Fulcrum Metals PLC  25 May 2023

25 May 2023

 

Fulcrum Metals plc

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

 

Commencement of Field Operations at the Schreiber-Hemlo project, Ontario,
Canada

Fulcrum Metals plc (LON: FMET), a company focused on mineral exploration and
development in Canada, is pleased to provide an update on its exploration
activities at its Schreiber-Hemlo project in Ontario.

·    The second phase of geological mapping and sampling has commenced in
the Schreiber area of the Big Bear property, part of the wider Schreiber-Hemlo
project.

·    The groundworks are designed to further refine the multiple targets
identified, building on:

 

o  the very promising results of the first prospecting phase (announced by
the Company on 2 March 2023 and 23 March 2023) which returned up to 45g/t Au
in quartz carbonate vein grab samples;

o  the 3.63g/t Au in sulphide bearing banded iron formation ("BIF") with
potential for significant strike extent; and

o  the recent structural study which identified 42 priority exploration
targets across the wider Schreiber-Hemlo project.

 

·    The objective of this program is to enable the ranking of the drill
targets for drill evaluation and testing which is planned for  late Q3 2023.

 

Ryan Mee, Chief Executive Office of Fulcrum Metals plc, commented:

"This is an exciting phase of work as we progress towards drilling later this
year which builds on the positive work completed at Big Bear so far. I look
forward to updating the market in due course not only on this phase of work
but also as we commence groundworks across the exciting portfolio of assets
held by the company."

 

-Ends-

 

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

 

FULCRUM METALS - BACKGROUND

 

Fulcrum Metals PLC (LON: FMET) is an AIM quoted exploration company which
finances and manages exploration projects focused on Canada, widely recognised
as a top mining jurisdiction.

 

Fulcrum currently holds a beneficial 100% interest in highly prospective gold
and base metals projects in Ontario and Uranium projects in Saskatchewan.

 

Fulcrum's strategy is to focus on discovery and commercialisation of its
Projects through targeted exploration programmes. The primary focus is to make
an economic discovery on the flagship Schreiber-Hemlo Properties and to
establish the prospectivity of its wider Ontario and Saskatchewan portfolio
with a view to securing potential joint venture and/or acquisition interest.

 

The Schreiber - Hemlo properties have a history of prospecting and localised
extraction since the late 19th century. However, coherent property-level
exploration programmes have been limited or absent, particularly in recent
times. Fulcrum has an opportunity to carry out such a programme and this
approach provides the best opportunity to fully explore the significant
prospectivity of the properties. A recent structural study identified 42
priority exploration targets, of which 24 targets within the Big Bear property
and 18 in the Jackfish property, with 14 in total (9 on Big Bear and 5 on
Jackfish) being ranked as high priority for follow-up. The properties have the
potential to host a large, structurally controlled, stratabound-style banded
iron formation (BIF) gold prospect similar to the Musselwhite deposit
(McNicoll et al., 2016), in addition to an Archean greenstone, orogenic-style
lode gold prospect, extending past the bounds of known historical mineral
occurrences.

 

While highly prospective, Fulcrum's mining assets are in the exploration
phase, so Fulcrum stands to be able to add significantly to the inherent value
through exploration success. Fulcrum will continually review opportunities
with potential and with a view to increasing shareholder value. It is the
Board's intention to deliver medium and long-term growth and to establish the
Group as a significant exploration company.

 

 

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