Fulcrum Metals plc has provided an update on the exploration program at the Big Bear property, part of the Schreiber-Hemlo project in Ontario, Canada. The company has undertaken a phase 2 exploration program, which included rock sampling and detailed geological mapping. The program has identified a 3km gold mineralized corridor that is open along strike and to the north. The corridor has yielded high-grade gold samples, with rock samples reporting up to 17.6g/t Au. In addition, 38 soil samples returned highly anomalous values in excess of 20ppb Au, outlining nine soil anomalies.
The exploration program has also successfully mapped important shear zones with the potential for the discovery and development of an economic mineral deposit. Structural observations have identified a potential regional-scale shear zone passing through the area on a single mineralized structural system. Based on the geological and structural setting of the property, it may have the potential to host a large, structurally controlled, stratabound-style banded iron formation ("BIF") gold prospect, as well as an Archean greenstone, orogenic-style lode gold prospect.
Four drill-ready prospects have been identified at Schreiber-Pyramid No.1 North and No.1 South, Johnston-McKenna, and Cook Lake. An additional five prospects are being developed towards drill target status. The company also mentioned the presence of other exploration targets outside the Schreiber-Pyramid area, including areas with strong conductance, magnetic highs, and strong VTEM targets.
Ryan Mee, CEO of Fulcrum Metals, stated that the exploration results have exceeded expectations and that the company will need to make a decision on the next steps of the exploration program. He added that the company looks forward to providing guidance and further information on the next operational stages in due course.