5th Nov 2024 17:06
(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
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