Fulcrum Metals Inc (the ‘Company’), based in Toronto Ontario, Canada, is engaged in the exploration and extraction of gold, silver and critical minerals from tailings on trend with the historic Noranda Mine, located in the heart of the mineral-rich Abitibi Greenstone belt in Ontario, Canada. The Company released the results of their latest two years of exploration and resource estimates, and is proceeding with its plans to enter into production.
Table of Contents
Introduction to Fulcrum Metals
Fulcrum Metals Inc (OTCMKTS:FULM) operates in the mining industry, under the precious and critical metals segment, extracting gold tailings from Ontario, Canada. The company is currently developing Tech Hues and Silver Knight projects, both of which have high recovery potential for gold. With the mission of engaging in socially and environmentally responsible mining, Fulcrum Metals strives to capitalise on the existing resources without causing significant disturbance to the environment.
Overview of Tailings Projects
Both the Tech Hues and the Silver Knight tailings projects are located in historic mining areas. Each seeks to recover gold and other valuable minerals from tailings, the waste outputs of historical mining. Tailings represent an untapped resource, and often contain large amounts of precious metals that can be recovered with modern extraction technologies.
Through the use of a combination of new and scaled-up technologies and methods, Fulcrum Metals is able to achieve high rates of recovery from the tailings, all at a commercial scale and with minimal environmental impact. Fulcrum’s approach starts with sampling and analysis to better characterise the tailings.
Recent Sampling Results
Meanwhile, both the Tech Hues and Silver Knight sites have recently seen promising results from sampling undertaken and reported on by the company in the past few months. After a series of drilling explorations and expected resampling of historic sites, the average gold grades on the Tech Hues site came in at a remarkable 177 per cent higher than historic grades.
Tech Hues: Recent drilling has confirmed an average grade of 0.65 grams per ton of gold, aligning closely with historic estimates.
Silver Knight: Sampling has uncovered significant quantities of silver and tellurium alongside gold, adding to the project's overall value.
These results not only supported the feasibility of the projects, but were also a sturdy base to tally early resource estimates and begin planning operations.
Understanding the Tailings Area
Both projects have extensive tailings areas, and opportunities to recover resources. The Tech Hues tailings site is more than a kilometre-long, several hundred metres wide, and accumulated over decades with mine waste deposits.
It’s only with an appreciation of this geological and historical setting that one can understand tailings.’ ‘Tailings’ are the waste materials mined along with gold. At Robles, these tell a long story, possibly 30 or more millennia of panning by riverbed prospectors. The official record for Robles dates back to the 16th century. Because gold still remained in the tailings, new mining operations were started from the 1980s through to the 2010s. ‘We are analysing these tailings because at one point in time many years ago, millions of ounces of gold were produced at these sites, and some of that value was lost,’ says McGowan. ‘The opportunity is to find this stranded gold in the tailings.’
Historic and Recent Gold Grades
The Tech Hues mine, in operation from 1936 to 1997, produced about 1.5 million ounces at an average grade of about 0.66 grams per ton, according to historical production data. As confirmation of these grades, new sampling of the mineralised vein has verified the historic numbers, which gives confidence in the existing resource estimates.
Continued exploration could result in finding yet better grades deeper in the tailings. Materials that were already settled some decades ago might have sorted themselves out and aided gold in migrating deeper, meaning, in theory, that more drilling could unearth even richer bounty.
Significance of Silver and Tellurium
Besides gold, sampling has also recovered silver and tellurium from the tailings, both with monetary worth. Silver has become a common material, and has been in higher demand in recent years due to its various applications in different industries. Tellurium, which has been recently recognised as a critical mineral, is also known for its use in various industries from solar panels to computer components.
The added minerals not only boost the projects’ economic viability but also mesh with a wider shift towards the extraction of multiple commodities. Fulcrum Metals could thus benefit from the overlap. The bigger bundle of minerals would make more money.
Concentration and Processing Techniques
Fulcrum Metals is using innovative concentration and processing methods to maximise gold and other mineral recoveries from tailings, with gravity-based methods enhancing cost efficiencies and recovery rates.
Using gravity concentration processes reduces the volumes that need to be processed, which improves the economics of projects. The more the tailings can be concentrated, the more high-grade material can be found, thus reducing transportation and processing costs.
Moreover, modern refining technology optimises the recovery of all precious metals, while processing procedures have been selected to minimise the company’s environmental impact. This is in line with the firm’s other activities that promote sustainability for its mining operations.
Benefits of Concentration Techniques
Cost Efficiency: Reducing the tonnage processed leads to lower operational costs.
Increased Recovery Rates: Concentration techniques can significantly enhance the grades of extracted materials.
Environmental Sustainability: Minimizing waste and using less energy in processing aligns with sustainable practices.
Flexibility: The ability to adapt processing methods based on the quality of tailings allows for optimized operations.
Future Plans for Resource Estimation
Fulcrum Metals (ASX:FML) is undertaking a comprehensive resource estimate on the Tech Hues and Silver Knight tailings projects and its exploration activities are aimed at defining the size of these projects. Resource defined so far is 25 million tonnes at 0.25 per cent copper equivalent. The current exploration activities will greatly increase investor confidence.
The current drilling programme is geared towards increasing the understanding of what the tailings are made up of and what mineralisation bodies may exist there. The sampling of these sites is ensuring that Fulcrum can continue to build on the base of field work and that the additional data will contribute towards a technical report that will summarise the resource estimation.
Future estimates will take account not only of historical production data, but also of recent drilling and sampling, which has fundamentally transformed our understanding of the resource base. This will allow for a much better basis for planning operations and investment opportunities.
Key Steps in Resource Estimation
Comprehensive Drilling Program: Completing additional drilling to gather data from multiple sites.
Data Analysis: Analyzing the collected samples to determine mineral grades and distribution.
Technical Reporting: Compiling findings into a detailed report that outlines resource estimates and operational potential.
Investor Communication: Keeping stakeholders informed about progress and findings to build confidence in the projects.
Permitting and Further Exploration
With increasing urgency, Fulcrum Metals is seeking the permits it needs in order to continue its exploration and extraction practises. The company is in regular contact with regulatory authorities to ensure all relevant environmental and operational norms are upheld.
Expanding exploration operations will require permitting along with eventually operating processing facilities. Fulcrum intends to run its operations with minimal environmental impact while recovering the most resources, while the public will need to take on the biggest risk.
Beyond the permit, the company will be allowed to further explore for tailings resources. It will do this through targeted drilling and sampling for greater concentrations of gold, silver and tellurium.
Exploration Strategies
Targeted Drilling: Focusing on areas with historical data indicating higher mineralization.
Geological Surveys: Conducting thorough geological assessments to identify potential new tailings sites.
Community Engagement: Working with local communities to ensure support and transparency in exploration efforts.
Conclusion: Investor Confidence and Opportunities
Fulcrum Metals is poised to profit from this increasing demand for precious and critical minerals using its tailings recovery technology; and the recently announced strategic exploration further adds to its investment appeal.
The encouraging results of recent sampling and drilling demonstrate the resource potential of both the Tech Hues and Silver Knight projects, and Fulcrum is pushing forward with its resource estimation and permitting efforts. This puts Fulcrum in a position to create significant value for shareholders.
Any capitalist or budding tycoon looking to undertake mining activities would do well to keep an eye on Fulcrum Metals as it continues to develop its project. Looking back on thousands of years of history while keeping a steady eye on modern mining techniques and a focus on environmental sustainability will put the company in good stead in the years to come.
FAQ
What is the focus of Fulcrum Metals?
Fulcrum Metals is specifically interested in extracting gold, silver and critical minerals from tailings in Ontario, Canada, in projects including Tech Hues and Silver Knight.
How does Fulcrum Metals ensure environmental sustainability?
The company employs advanced (and environmentally friendly) extraction techniques that minimize waste (1) and energy use; however, they maximize resource recovery. This is crucial because it promotes sustainability. Although the methods are innovative, there are still challenges to overcome.
What are the next steps for Fulcrum Metals?
Fulcrum says that it will continue drilling and sampling efforts, apply for the appropriate permits, and prepare a detailed resource estimation report to inform potential operational planning.
Why should investors consider Fulcrum Metals?
And so, with some recent promising results and a commitment to sustainable practices, not to mention huge resource potential, mining investors should take a long, hard look at Fulcrum Metals.
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