News

19/11/21

The company announce the acquisition of two strategic uranium exploration properties, Fontaine Lake and Charlot Lake, surrounding the Athabasca Basin, located in northern Province of Saskatchewan, Canada.

The properties cover a combined 11,536 hectares (115.36km2) providing Fulcrum Metals with a strong position in the prolific Athabasca basin, which is the world’s leading source of high-grade uranium and currently supplies about 20% of the world’s uranium. Additionally, Saskatchewan is ranked the 3rd best mining jurisdiction in the world in Fraser Institute’s 2020 rankings.

The ambition of moving towards Net Zero Emissions and the drive towards a greener economy has seen the re-emergence of the global Uranium commodity market. Uranium is crucial to nuclear power generation and is widely regarded as a low carbon alternative to traditional coal power plants and efficiencies when compared to other renewable energy sources.

The increasing acknowledgement that Uranium has an important role to play in the future of energy has seen a significant increase in the U308 spot price and an influx of investment and opportunity, upon which Fulcrum has acted. The Charlot Lake property is located north of Uranium City, Saskatchewan. The property contains four uranium showings with chip samples up to 0.8% U308 and drill intersections up to 1.65% U308 over 5ft. The last exploration records pre-date 1970 which offers the chance to apply modern exploration technology to develop the property.

The Fontaine Lake property is 53 km northwest of Stony Rapids and contains four showings. The property was most recently prospected by CanAlaska in 2008 which identified a number of promising prospects for follow up exploration which included samples assaying 1.28% and 0.81% U308, as well as very-high scintillometer readings up to 15,000 counts per second (CPS) – which is a measure of the radioactivity of a rock.

Ryan Mee, CEO, commented – this is a strategic opportunity taken by the company to offer exposure to a uranium market that has seen a significant uplift in investment liquidity and possibilities. We look forward to advancing these projects as the uranium market unfolds with the back drop of decarbonising energy production.

09/09/21

The company are pleased to announce the acquisition of the Tocheri Lake project in the Dayohessarah Greenstone Belt. This occupies a strategic window of greenstone that is relatively unmapped and underexplored. This secures a land position surrounded by Palladium One to the West, Harte Gold to the South and E2 Gold to the East.

The only exploration records identify the Olivier sulphide occurrence with grab samples of 9.64g/t Ag, 0.31g/t Au in 1968 and 916ppm Cu and 195ppm Zn in 1992. The Olivier sulphide occurrence is situated along the base of a 50m high northeast-trending ridge.

30/04/21

The company are extremely pleased to announce the acquisition of Syenite Lake, Beavertrap Lake and Carib Creek properties, increasing the companies land holding by 232 claim cells in Ontario.

Ryan Mee (Director and co-founder) commented – “This is fantastic news for the company bringing unparalleled experience, expertise and knowledge not normally accessible to a junior mining company. Jim is not only a specialised geochemist in Canadian shield ore deposits, notably serving as the Chief Scientist for the Geological Survey of Canada, but has also previously worked on the JFK property the company acquired recently, which greatly helps with the understanding of the area. We are excited to work with Jim in advancing the company projects with particular focus on the JFK property.”

James M Franklin PhD FRSC, P Geo

Jim Franklin, originally from North Bay, Ontario, is focussed on unravelling the reasons for the exceptional mineral endowment of the Canadian Shield. His PhD thesis examined mineral deposits in the Proterozoic of the Thunder Bay area. He initiated his post PhD research efforts at Lakehead University, where he was the first economic geology professor (1969-75). He then joined the Geological Survey of Canada, continuing base metal and gold research throughout the Shield. In 1981 he took a 10-year “excursion” to lead the GSC’s Marine Minerals Program, discovering and drilling “black smoker” systems on the modern seafloor: From this combination of sea- and land-based work, he developed a robust set of guidelines that help steer modern exploration. In 1992 he became Chief Scientist for the Geological Survey of Canada, responsible for steering the GSC’s entire science program, as well as chairing the Federal-Provincial Geological Surveys committee, which included representing the GSC in developing the Federal-Provincial Geoscience Accord.

Since “retiring” from the GSC (1998) he has advised about 80 exploration companies world-wide, with projects in every continent except Antarctica. Jim is a board member of three companies (Ur Energy, Nuinsco Ltd., and Gold79Mines), and has been involved for them in the development of base metal, chrome and uranium resources in the Ring of Fire, Sturgeon Lake, Wyoming and Mexico. He also serves as a senior advisor to several others, including Millbrook Minerals Ltd., Renforth Minerals, Noront and the MacDonald – Red Pine group He served as member of management boards for numerous public-service related organizations, and on advisory committees to the Earth Sciences Sector of NRCan. He has received GAC’s Logan and Duncan R Derry medals, CIM’s Selwyn Blaylock, A.O. Dufresne, Distinguished Lecturer and Julian Boldy Memorial awards and SEG’s Thayer Lindsley and Distinguished Lecturer awards and its Penrose Gold Medal. He is a Fellow of the Royal Society of Canada, a Fellow of Lakehead University, an Adjunct Professor at several Ontario Universities, and a Past President of both the Geological Association of Canada and the Society of Economic Geologists. In January 2019, he was inducted into the Canadian Mining Hall of Fame. He has published over 200 papers and book chapters, and innumerable abstracts.

His passion is his continuing work towards the discovery of more new mines throughout the world, with a focus on geochemical and alteration aspects of base metal, silver and gold-rich volcanogenic massive sulfide deposits. He also enjoys mentoring students and giving short courses to aid in the professional development of his geoscience colleagues. He gives several of these each year and has had them translated into Spanish in three countries.

22/04/21

The company are excited to announce the acquisition of the Jackfish Lake & Kellyn (JFK) properties comprising 206 mining claims in the Schreiber-Hemlo greenstone belt.

Ryan Mee (Director & Co-founder) commented “negotiations for JFK have taken some time so we are thrilled to sign the agreement for this important asset. The properties are situated on the relatively under-explored eastern margins of the Terrace Bay Batholith contact zone compared to the western margins which host several nearby mines and deposits including Northshore (1.2moz Au).

Historic records for the Kellyn area confirm the presence of copper, gold, silver and also an unusual range of anomalous elements such as rare earths, tellurium, molybdenum, barium and mercury which is suggestive of a porphyry or Hemlo-style occurrence. There is also a similarly unusual suite of anomalous elements in a soil anomaly to the northern part which marks this out as a target for follow-up exploration, including drilling. Historic samples in the Kellyn area make this an exciting target area with values up to 26.8g/t Au, 454g/t Ag, 1.79% Cu, 22% Pb, 13.7% Zn and 1% TREO.

From limited exploration on the Jackfish Lake property there are three zones of quartz veining with reported high-grade gold occurring along a roughly NW-trend over a distance of more than 1km namely North Zone (48.9g/t Au), Hematite Zone (4.3g/t Au & 138.9g/t Ag) and Cliff Zone (46.47g/t Au). VLF surveys suggests additional trends for follow up even from a relatively small area of the Jackfish Lake claims.

What is clear is that there are several types mineralisation within the claims. Previous exploration has taken a mechanical approach which did not take this into account the deposit types and provides an excellent opportunity for the company using modern mining methods and techniques. We cannot wait to get to work.”

22/03/21

The company are extremely pleased to announce the acquisition of Syenite Lake, Beavertrap Lake and Carib Creek properties, increasing the companies land holding by 232 claim cells in Ontario.

Ryan Mee (Director & Co-founder) commented “these acquisitions firmly establish the footprint of the company in Ontario. The geophysics of the properties are very interesting as they all seem to have similar settings to the immediate neighbouring properties.

Syenite appears to be an extension to Cu-Ni-PGM zone of Transition Metals Maude Lake property and is also just 1,200 meters from Panther Metals high grade Little Bear gold mine. Not only this but the property also has three high priority exploration targets mapped by the OGS that are yet to be explored and a fault line which runs through up from Panther Metals Little Bear property, through Syenite Lake. This makes Syenite Lake very compelling.

The Beavertrap Lake and Carib Creek properties are situated in the Winston Lake Greenstone Belt (WLGB) and are surrounded by a host of activity. Beaver Trap is right next to the Superior Lake Zinc projects recently acquired by Metallum Resources with Sprott affiliated stakeholders. The intent is to expand the resources and put the mine back into production. Metallum Resources have recently announced the start of a 2000m drill campaign around the Pick Lake mine which is just 600 meters from the Beaver Lake property. This is a hugely exciting development in the area bringing big players and funding. Additionally, the northern section of the property appears to have both have similar EM anomalies to those within the Golden Share Resources property and possibly on the northern trend of mineralisation from the Metallum Resources project. Carib Creek is immediately north of CBLT’s Coco high grade gold project and they are considering near term exploration, Carib Creek is also east of Golden share resources who have identified a 400m strike length of sulfides and pyrite which correlates well with an extensive airborne anomaly through the Carib Creek property.

Geophysically both properties are extremely exciting with possible run through and breakaway formations from the WLGB.”

11/03/21

Acquisition of Dog Lake – We are delighted to announce our first acquisition being 154 contiguous claim cells known as ‘Dog Lake’ within the Michipicoten (“Wawa”) greenstone belt, Ontario.

Ryan Mee (Director & Co-founder) commented “this is an exciting development for the company acquiring its first asset. Dog Lake is within the Wawa greenstone belt which is a significant producer with one of Canada’s highest grade and lowest cost gold mines, the Island Gold mine at 3.2m oz Au. The belt also hosts the large Magino gold project at 2.2m oz Au and they are within 30km proximity of Dog Lake.

At the moment there is a lot of mining activity on the belt with Argonaut Resources making the decision to move the Magino project to construction in February this year and drill programs increasing the resource estimate at Alamos, but generally the belt is underexplored with modern mining methods. The Dog Lake property is also relatively underexplored, however there are some historic gold showings up to 5.2g/t and we believe the geophysical makeup suggests at least one of them could be significant.

The property is not limited to gold, with the southern part of Dog Lake having an interesting road-side outcrop copper sample of almost 3500ppm and some similar geological settings to that of the Frymire property directly to the East which has identified samples of Nickel in the 3000ppm range.

We believe that interest in this area is set to increase and note that there are recently staked claims that abut Dog Lake by an operator new to Ontario which we feel is an exciting development.

This acquisition marks the beginning of the company building a strong asset base focused on value generation within precious and base metals.”