REG - Fulcrum Metals PLC - Notice of AGM and Board Change

Fulcrum MetalsAnnouncement

01/05/2024 07:15

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RNS Number : 7102M  Fulcrum Metals PLC  01 May 2024

 

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

 

 

1 May 2024

 

 

Fulcrum Metals plc

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

 

Directorate change

 

Posting of Annual Report and Notice of AGM

 

Fulcrum Metals plc (LON: FMET), a company focused on mineral exploration and
development in Canada, announces that Clive Garston, currently Independent
Non-Executive Chairman, will be stepping down from the board of Fulcrum.

 

Mr Garston will remain on the board until the Company's forthcoming annual
general meeting ("AGM"), which will take place on 3 June 2024, where he will
not seek re-election as a director. The Company is making good progress with
respect to the appointment of a new Non-Executive Chair and a further
announcement will be made by the Company at the appropriate time.

 

Mr Clive Garston, Independent Non-Executive Chairman, said:

 

"It has been a pleasure to have guided Fulcrum on its journey from a private
company to being a quoted company on AIM. The commitment of the board in
executing deals, which in the long term have the potential to increase
shareholder value, has been admirable and I am confident that Fulcrum will
prosper in the future."

 

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

 

"I would like to take this opportunity to thank Clive for his support,
expertise and service during the last 15 months. I am deeply grateful for his
invaluable guidance and wish him continued success in all his future
endeavours."

 

Posting of Annual Report and Notice of AGM

 

The Annual Report and Accounts and Notice of AGM, which sets out the
arrangements for the AGM and how shareholders may vote and ask questions, will
be sent shortly to the registered shareholders of the Company and are
available on the Company's website at www.fulcrummetals.com
(http://www.fulcrummetals.com) .

 

The AGM will be held at 11:00 a.m. on 3 June 2024 at the offices of Fladgate
LLP, 16 Great Queen Street, London, WC2B 5DG.

 

-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 / Will Turner      Tel: +44 (0) 20 7236 1177

 

 

 

Notes to Editors

 

Fulcrum Metals PLC (LON: FMET) is an AIM quoted mining explorer and
development company with a focus on Canada. The Company's strategy is to
create a best in class environmentally friendly and sustainable tailings
processing business capable of driving change in the mining sector, whilst
capitalising on its portfolio of highly prospective exploration assets with
the aim of  delivering   near-term cash flow  to shareholders.

 

Creating an environmentally friendly and sustainable tailings and mine waste
business

 

Fulcrum has acquired two gold tailings projects via option agreements, the
Teck-Hughes and Sylvanite gold tailings projects, in the prolific Kirkland
Lake gold camp, Ontario. The projects are within 3km proximity of each other,
with combined non-compliant estimates of 205,511 ounces, subject to
verification by Fulcrum. It is the Company's intention to use Extrakt's
Process Solutions efficient and sustainable separation technology to recover
gold from the tailings, which is subject to successful testing of the tailings
using the technology and recoverable gold grades.  In addition, Fulcrum is
working on delivering a licensing framework in Ontario with Technology
partners Extrakt Process Solutions and alliance partners Bechtel Engineering.

 

Growth stage gold projects in Ontario

 

Fulcrum has two drill ready gold projects in Ontario.

 

The Big Bear and Jackfish 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. The work completed by Fulcrum at Big Bear has
established a gold corridor of 3km in the Schreiber-Pyramid area with high
grade gold in rock samples of up to 45g/t and historical grades of upto
233g/t, developing multiple drill targets and prospects. This trend is open to
the North, East and South for further discovery. Fulcrum has also completed
high resolution geophysical surveys which now fully cover Big Bear,
identifying a further 5 high priority exploration targets for follow-up
investigation. Big Bear is reported to 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.

 

The Tully property is host to a NI 43-101 compliant resource of 107,000 ounces
of gold with high grades reported in 1997 drilling of up to 2,555.5g/t Au over
0.5 metres within a wider intersection of 322.02g/t over 5.7 metres and 2013
drilling by SGX demonstrating potential extension and depth reporting 9.01g/t
Au over 6.7 metres, and 8.0g/t Au over 6.5 metres. Tully is located 30
kilometres northeast of Timmins within the world class Timmins-Porcupine gold
camp that has produced over 70m Oz of gold to date. Tully is 2 kilometres
southwest of the 1.2Moz Bradshaw Gold Project of Gowest Gold Ltd., currently
in development and within 30km of several multi-million ounce historical
deposits including the producing Hoyle Pond gold deposit. Work undertaken by
Fulcrum has identified several drill target locations with the objective of
extending the deposit along strike and at depth.

 

 

Establish the prospectivity of its wider non-core Ontario and Saskatchewan
portfolio

 

Fulcrum's diversified investment portfolio includes highly prospective base
metal projects in Ontario and Uranium projects in Saskatchewan.  Although
these are not non-core projects for the Fulcrum, the Company intends to
increase its understanding of these projects through cost effective
exploration work with the view of attracting a potential joint venture and/or
acquisition partner.

 

Ontario Base Metals - Fulcrum has developed a strong nickel target at Dog Lake
in the Michipicoten Greenstone Belt with several rock samples in excess of
1,000ppm Ni related to a mafic/ultramafic intrusives, a strong copper
exploration target at Carib Creek in the Winston Lake Greenstone belt with
soil sampling surveys returning several strongly anomalous copper samples up
to 737ppm whilst at Tocheri Lake in the Dayohessarah Greenstone belt a
Versatile Time Domain Electromagnetics (VTEM) airborne geophysical survey
conducted over the southwest corner of the property identified a weak
electromagnetic conductor which may indicate buried mineralisation in addition
to several magnetic targets.

 

Saskatchewan Uranium - Fulcrum has amassed a highly prospective uranium
portfolio of over 59,000 hectares across the Charlot-Neely, Fontaine Lake,
Snowbird and South Pendleton claims. All of the projects are outside the
Athabasca basin along major structures, on trend with historic mines and areas
of significant M&A activity. Recent discoveries such as the Arrow
discovery (4.3m tonnes at 0.83% U308 ) and Triple R discovery (2.7m tonnes at
1.94% U308) have proved the concept of exploring along major structure outside
the Athabasca Basin. Historic records at Charlot-Neely include rock samples of
up to 6.2% U308, trenching samples of up to 2.1% U308 and significant
electromagnetic conductors covering a 16km zone thought to be prospective for
uranium mineralisation. Work completed by Fulcrum at Charlot-Neely and
Fontaine Lake includes hyperspectral data compilation identifying exploration
targets and field work resulting in discovery of high-grade uranium
mineralisation of up to 0.8% U308 and the discovery of new uranium and
radioactive trends.

 

Conclusion

 

Fulcrum's mining assets are a combination of low discovery risk tailings and
highly prospective exploration projects, so Fulcrum stands to be able to add
significantly to the inherent value through exploration and development
success. Fulcrum will continually review opportunities that have potential to
increase shareholder value and to establish the Group as a significant
exploration and development company.

 

 

 

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