Fulcrum Metals PLC has announced the commencement of a phased sampling, testing, and study programme at the Sylvanite Gold Tailings project in Ontario, Canada. The programme aims to confirm the gold content in the tailings and evaluate the efficiency of Extrakt's processing technology in recovering gold and other by-products from the estimated 4.14 million tonnes of tailings. The testing will include a full suite of metallurgical characterisation and batch leach testing using Extrakt's technology.
Ryan Mee, Chief Executive Officer of Fulcrum, expressed enthusiasm about the project, citing the successful results at the Teck-Hughes tailings project, where up to 59.4% of gold was recovered using Extrakt's technology. He highlighted the company's commitment to sustainable and responsible mining practices, aiming to transform mine tailings into a cash-generative resource through innovative technology.
The company also provided an update on its discussions with Extrakt regarding the licensing of its proprietary technology. Fulcrum has entered into a phased study and testing programme for both the Teck-Hughes and Sylvanite projects and is in discussions for a wider licensing framework in Ontario.
Fulcrum outlined a phased development programme, including high-level gold recovery investigation, conceptual study, laboratory test work, and economic assessment study. The Sylvanite Gold Tailings Project, located in the Timiskaming District, is estimated to contain 67,051 ounces of gold, and the company is actively pursuing the acquisition of 100% of the project.
The historic non-compliant resource estimate cited by the company has not been verified and requires detailed follow-up sampling and estimation by an independent qualified resource geologist. The company is focused on developing its tailings assets and aims to provide further updates on the potential of its tailings business in Ontario.