Fulcrum Metals reports promising assay results at Ontario projects

(Alliance News) - Fulcrum Metals PLC on Tuesday reported "abundant" mineral resources from recent ...

Alliance News 5 November, 2024 | 5:06PM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Fulcrum Metals PLC on Tuesday reported "abundant" mineral resources from recent exploration at its Teck-Hughes and Sylvanite gold tailings projects in Kirkland Lake, Ontario.

Canada-focused exploration firm Fulcrum Metals said assay results from new auger sampling sites at both projects confirmed the presence of gold, silver, and tellurium.

The Teck-Hughes project reported average grades of 0.65 grams per tonne gold, 1.3 grams per tonne silver, and 13 grams per tonne tellurium, while the Sylvanite project yielded 0.58 grams per tonne gold, 1.1 grams per tonne silver, and 13.9 grams per tonne tellurium from six new auger sites.

Tellurium, classified as a critical mineral in Canada, had not been previously assayed at either site, offering potential by-product value.

Fulcrum Metals Chief Executive Officer Ryan Mee said: "Assay results from additional areas of the tailing orebodies prove abundant gold at surface and new silver and tellurium grades which provide potentially valuable by-products.

"This presents a significant advantage: there is no need for new discoveries, sub-surface infrastructure, or mine construction. Instead, we are confirming accessible, surface-level gold resources and demonstrating our capability to efficiently extract gold from them. Our workstreams are specifically designed to accomplish this in a cost and time-effective manner."

Panther Metals PLC, which holds around a 12% interest in Fulcrum Metals, noted the update.

Fulcrum Metals closed 2.1% up at 7.40 pence in London on Tuesday.

By Eva Castanedo, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Panther Metals PLC Accum.Shs GBP 96.33 GBX -3.67 -
Fulcrum Metals Plc 7.40 GBX 2.07 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures