REACH: NON- REGULATORY
9 July 2024
Fulcrum Metals
plc
("Fulcrum" or the "Company" or the "Group")
focusIR Investor Webinar To
Be Rescheduled
Fulcrum Metals plc (LON: FMET), a
company focused on mineral exploration and development in Canada,
announces that the focusIR Investor Webinar on Wednesday
10th July 2024 at 6pm (UK local time) is to be
rescheduled. A new time and date for the webinar will be announced
in due course.
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For further information, please
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
|
E: fulcrummetal@stbridespartners.co.uk
Tel: +44 (0) 20 7236 1177
|
FocusIR
Kat Perez
|
+44
20 4570 2250
FulcrumMetals@focusir.com
|
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
On 3 July 2024, Fulcrum announced
that they had entered into a definitive option agreement with Terra
Balcanica Resources Corp. for the sale of the Company's uranium
projects in Saskatchewan. Under the terms of the agreement, Terra
has the option to acquire 100% of Fulcrum's uranium projects by
completing four years of exploration programmes and making a series
of cash and equity payments, details of which are set out in the
announcement released by the Company on 3 July 2024.
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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