RCS - Fulcrum Metals PLC - Updated Corporate Presentation

Fulcrum MetalsAnnouncement

14/06/2024 07:00

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RNS Number : 3945S  Fulcrum Metals PLC  14 June 2024

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/
(https://fulcrummetals.com/investors/reports-presentations/)

 

***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 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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