Fulcrum Metals plc has provided an update on its drilling programmes for the Tully Gold Project and the Big Bear Project in Ontario, Canada. In the Big Bear Project, a 3km gold mineralised corridor has been identified, generating four drill ready prospects and five prospects for further follow-up. The company plans to commence an exploration programme to progress the drill prospects to drill ready, followed by a drilling campaign in 2024. This approach will result in operational savings due to mobilisation costs. The company has already submitted additional drill permits for this larger programme.
Regarding the Tully Gold Project, which Fulcrum recently acquired, the company is optimizing mobilisation and drilling costs through the winter due to less marshy ground conditions. The project is located within the Timmins-Porcupine Gold Camp and has an established gold resource. The company is currently preparing for drilling operations at Tully, including planning, data analysis, and verification. The drill operations are expected to commence as soon as possible, with winter ground conditions usually occurring late November/early December.
The Tully Gold Project has a historic gold resource of 107,000 ounces, with 76,000 ounces in the Indicated category and 31,000 ounces in the Inferred category. The gold resource has been delineated over 600 meters of traced strike length through drilling. The project offers the opportunity to expand the resource through strategic infill drilling, drilling along strike, and drilling down plunge to the Northeast. Historical drilling by SGX Resources extended the deposit eastward and to depth, with peak intercepts of 14.1m at 20.1g/t gold and 472g/t gold over 0.5m. Visible gold has also been identified in historical drill core.
Fulcrum plans to conduct a Hyperspectral scan of select historic drill cores at Tully to identify alteration and mineralisation that may have been missed in visual logging. Samples will be selected for fire assay screen metallic analysis to determine coarse, fine, and total gold in the samples. This analysis can pick up coarse nuggety gold that may have been excluded in the previous sampling.
Overall, Fulcrum Metals is progressing its drilling programmes at the Tully Gold Project and the Big Bear Project, with the aim of discovering the potential of the newly identified gold corridor at Big Bear and expanding the resource at Tully.