REG - Fulcrum Metals PLC - Teck-Hughes Auger Drill Programme Update

Fulcrum MetalsAnnouncement

Tue 07:00

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RNS Number : 4964Y  Fulcrum Metals PLC  09 September 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

 

 

9 September 2025

 

 

Fulcrum Metals plc

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

 

Teck-Hughes auger drill programme is underway with initial assays of up to
1.2g/t Au

 

Fulcrum Metals plc (AIM:FMET), a company pioneering the use of innovative
technology to recover precious and critical metals from mine waste, is pleased
to announce the commencement of the characterisation programme consisting of a
significant auger drill campaign and phase 3 testing with Extrakt at the
Company's highly prospective Teck Hughes tailings project in Kirkland Lake,
Ontario.

 

The auger drill programme underway will provide detailed data for minerology
and to support a Mineral Resource Estimate ("MRE"), marking a major step in
advancing the Teck Hughes project towards production.

 

Phase 3 testing 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.

 

These workstreams will run parallel and provide the basis for a phase 4
Preliminary Feasibility Study ("PFS") level economic assessment with Extrakt
and delivering a 43-101 technical report.

 

Highlights

 

·    93 hole auger drill programme is underway to support the MRE

·    Photon assay results for the first 7 holes return up to 1.2g/t gold

·    All holes are returning consistent gold values averaging 0.73g/t Au

·    Characterisation programme will demonstrate at surface reprocessing
potential

·    All samples will be analysed for gold using photon assay, with
comparative fire assays conducted for validation, and ICP analysis undertaken
for silver, gallium and tellurium

 

 

Ryan Mee, Chief Executive Officer of Fulcrum, commented:

 

"I am thrilled to announce the start of the characterisation and drill
programme at our Teck Hughes tailing project in Kirkland Lake. We have also
identified the potential for critical minerals gallium and tellurium in
addition to gold.

 

These are important steps in demonstrating the quality and scale of this
near-surface legacy resource, where initial results show high recovery rates
and quick leach times for processing with the Extrakt technology.

 

The initial assay results delivered up to 1.2g/t gold, and importantly with
consistent gold grades throughout all holes and samples.

 

I look forward to updating investors on progress with these parallel
programmes and other key corporate milestones as we advance to a construction
decision."

 

Please see below a video from Ryan Mee, Fulcrum's CEO, from management's
recent visit to the Teck Hughes site where he outlines the Company's strategy
in Kirkland Lake and discusses plans for Teck Hughes:

 

 

 

Table showing Teck Hughes' first photon assay results

 

 Total Hole                           Including
 Hole         Metre  Metre  Gold g/t  Metre  Metre  Gold g/t
 Number       from   To     CPA1-AU   from   to     CPA1-AU

 TH-235-1     0.00   6.00   0.670     4.20   5.00   0.832
 TH-285-3     0.00   4.50   0.804     4.00   4.30   1.203
 TH-285-5     0.00   0.82   0.755     0.00   0.50   0.775
 TH-310-08    0.00   10.00  0.750     1.00   2.00   0.984
 TH-310-10    0.00   8.50   0.721     6.00   7.00   1.194
 TH-310-12    0.00   9.00   0.757     7.00   8.00   0.891
 TH-335-6     0.00   2.40   0.572     2.05   2.25   0.848
 Grand Total                0.728

 

 

 

Teck Hughes characterisation programme

 

Auger Drilling

 

Following a period of pilot testing of tailings sampling methodology the
Company has commenced a significant auger drilling campaign of a proposed 93
holes across the Teck Hughes tailings project.

 

The auger drill grid consists of a combination of 50 metre by 50 metre
spacings and 25 by 25 metre spacings designed to cover the entire Teck Hughes
property which will be completed from surface to the full depth of the
tailings and provide sufficient data required to prepare a MRE, representing a
critical step in advancing the project towards development.

 

Sampling and Assay work

 

In line with the Company's focus on minimal environmental impact, flexible and
low-cost approach to tailings testing, the Company has acquired auger
equipment consisting of a Cobra Drill, rods, samplers and manual auger rods
and samplers.

 

The entire sample for each hole will be recovered at specific intervals.
 Each sample interval will be sent to MSA Labs for homogenising and photon
assaying for gold. The samples will then be sent to Actlabs for comparative
Gold Fire Assay and ICP-MS Ultratrace 4 multi-element assay which includes
Silver, Gallium and Tellurium.

 

Figure 1 - Teck Hughes property auger drill grid

 

 

Figure 2 - Taking core samples of Teck Hughes tailings

 

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 multielement 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 please visit www.fulcrummetals.com
(http://www.fulcrummetals.com) , follow us on X @FulcrumMetals or 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 an exclusive Master Licence Agreement ("MLA") for the rights to
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 historical gold production of over 110Moz over the
past 100 years with more than 70 documented legacy mine waste sites. This
presents Fulcrum with the opportunity to develop into a significant
environmentally friendly gold producing entity.

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