REG - Fulcrum Metals PLC - Winston Lake Project Update

Fulcrum MetalsAnnouncement

25/07/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230725:nRSY0156Ha&default-theme=true

RNS Number : 0156H  Fulcrum Metals PLC  25 July 2023

25 July 2023

 

Fulcrum Metals plc

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

 

Winston Lake Project Update: Commencement of Exploration Program

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 the Winston Lake project, Ontario.

An initial exploration program has commenced at the Carib East claim block
("Carib East") at Winston Lake This block covers a sedimentary-volcanic
contact zone reportedly exhibiting similar alteration to the historic Winston
Lake base/precious metal deposit which is reported to be the highest-grade
Zinc mine in North America.

 

The exploration program at Carib East is targeting: -

 

·    The Garnet Lake SE Cu showing to sample and attempt to extend its
strike length whereby historic grab samples of up to 1.35% copper within a
quartz-carbonate vein have been reported

·    The southern to eastern portion of the claim block where historic
work documented the presence of Chalcopyrite mineralisation which was
corroborated by anomalous copper and gold values within historic soil samples
with results of up to 1,100ppm over an area of 2 square kilometres

·    A 3-line soil sampling program targeting the B-Horizon at 25 metre
sample spacings and 100 metre spaced lines totalling 2.7km

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

"The Carib Creek East claim block is set within a highly prospective region
and in close proximity to the historic Winston Lake base/precious metal
deposit which is reportedly the highest-grade Zinc mine in North America.

This initial exploration program is designed to confirm and expand on historic
rock and soil sample programs which returned encouraging grab samples of up to
1.35% copper and soil samples of up to 1,100ppm copper.

Commencing exploration at Carib Creek East is another marker in what is to be
an extremely busy year for Fulcrum as we begin to advance the portfolio of
projects for commercialisation and discovery.

I look forward to reporting on this exploration program and initiatives in the
coming weeks and months."

 

 

 

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.

-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.

 

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.

 

Winston Lake Project - Beavertrap and Carib Creek

 

Properties in the Winston Lake greenstone belt adjacent to Metallum Zinc
Resources Superior Lake Zinc Project (historic Winston & Pick Lake mines)
which contains a VMS style high-grade zinc deposit with a JORC Resource of
2.35 Mt @ 17.7% Zn, 0.9% Cu, 0.38 g/t Au & 34 g/t Ag and a Probable Ore
Reserve of 1.96Mt @ 13.9% Zn, 0.6%Cu, 0.2g/t Au & 26.2g/t.

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCBLGDRGXDDGXS