Fulcrum Metals PLC Winston Lake Project Update (0156H)
25 Julio 2023 - 1:00AM
UK Regulatory
TIDMFMET
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/
or contact:
Fulcrum Metals PLC
Ryan Mee (Chief Executive Officer) Via St Brides Partners
Limited
Allenby Capital Limited (Nominated
adviser)
Nick Athanas / George Payne T el: +44 (0) 203 328
5656
Clear Capital Markets Limited (Broker)
Bob Roberts T el: +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.
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