REACH: NON- REGULATORY
Fulcrum
Metals plc / EPIC: FMET / Market: AIM / Sector: Mining
14 June 2024
Fulcrum
Metals plc
("Fulcrum" or the "Company" or the "Group")
Updated
Corporate Presentation
Fulcrum Metals plc (LON: FMET), a
company focused on mineral exploration and development in Canada,
is pleased to announce that an updated Corporate Presentation has
been published on the Company's website.
The updated presentation can be
viewed at: https://fulcrummetals.com/investors/reports-presentations/
***ENDS***
For
further information please visit https://fulcrummetals.com/ or
contact:
Fulcrum Metals PLC
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Ryan Mee (Chief Executive
Officer)
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Via St Brides Partners
Limited
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Allenby Capital Limited (Nominated adviser)
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Nick Athanas / George
Payne
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Tel: +44 (0) 203 328 5656
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Clear Capital Markets Limited (Broker)
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Bob Roberts
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Tel: +44 (0) 203 869 6081
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St
Brides Partners Ltd (Financial PR)
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Ana Ribeiro / Paul Dulieu
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Tel: +44 (0) 20 7236 1177
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Notes to Editors
FULCRUM METALS - BACKGROUND
Fulcrum Metals PLC (LON: FMET) is an
AIM quoted exploration and development company which finances and
manages exploration projects focused on Canada, widely recognised
as a top mining jurisdiction. Fulcrum's ambition is to create
an environmentally friendly and sustainable tailings and mine waste
business, driving mining change through combining low discovery
risk assets and jurisdictions with transformative technology
capable of near-term cash flow whilst capitalising on a portfolio
of highly prospective exploration assets.
Creating an environmentally friendly and sustainable tailings
and mine waste business
Through the adoption of potentially
industry disruptive technologies to deliver near-term cash
producing assets. 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 non-compliant
estimates of 138,460 ounces of gold and 67,051 ounces of gold
respectively, totalling 205,511 ounces, subject to verification by
Fulcrum. 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 has highly prospective base
metal projects in Ontario and Uranium projects in Saskatchewan for
which cost effective exploration methods will be utilised to
evaluate the projects with a view to securing potential joint
venture and/or acquisition interest.
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 and high prospectivity in the
exploration phase, so Fulcrum stands to be able to add
significantly to the inherent value through exploration and
development 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 and development
company.
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