Fulcrum Metals

producing approximately 80% dry stack material which may reduce handling costs and assist site remediation

Rapid dewatering times of less than 1 minute

with approximately 80% of water and reagents recovered for reuse, reducing demands on downstream equipment and vital resources

Operating cost efficiencies

“ERMS” test work indicates the potential for significant benefits, reducing process solution volume by about 80% while increasing precious metal concentrations by 85-90% 

Extrakt Reagent Management System 

Teck Hughes Jan 2025 Winter works at Teck Hughes

Teck Hughes pulling drill rods for samples Summer 2025

Explore Teck-Hughes, Fulcrum Metals' flagship gold recovery project, reprocessing legacy mine tailings at a former producing mine in Kirkland Lake, Ontario.

Teck-Hughes Gold Tailings Project | Fulcrum Metals plc FMET

Inter

Fulcrum Metals PLC

Multi-metal recovery and remediation in Kirkland Lake, Ontario, Canada

Fulcrum are approaching pilot scale demonstration in an innovative way. By implementing a smaller standalone pilot plant, this allows for multi-project upscaling for larger commercial deployment for Teck Hughes and all Fulcrum projects and project pipeline development.

The presence of a growing suite of critical and technology metals including 

 which could increase the economic value of the project.

Initial optimisation test work with Extrakt’s cyanide free technology resulted in rapid single leach stage co-metal recoveries in just 6 hours:

Strong recoveries were also achieved for cobalt 61%, copper 86%, manganese 67% amongst others, demonstrating the adaptability across commodities.

At the time of the recovery test work the presence of rubidium, strontium and zirconium was not known and therefore not tested. Further testing will be required to assess the recoveries and economic potential. 

Assays from a 159-auger drill hole programme in 2025 confirmed consistent grade distributions from surface, both laterally and vertically, with average grades returning 

0.63g/t gold, 0.70g/t silver, 12.86g/t tellurium, and 17.12g/t gallium.

Fulcrum completed an early-stage non-optimised conceptual study at Teck-Hughes for gold only. The study conceptualised a simple single-stage leach and dewatering process in a closed-loop system. 

This was based on an estimated 6.5 million tonnes in-situ (to be confirmed by Fulcrum), 2,000 tonnes of tailings processed per day over a 9-year mine life, a 59.4% gold recovery rate, a 6-hour leach time, and a gold price of US$2,899/oz suggesting a pre-tax Net Present Value at a 7.5% discount ("NPV7.5") of approximately US$33m with a 3 year payback period (see announcement released by Fulcrum on 12 March 2025).

A sensitivity analysis suggests that a 25% increase in the recovery rates or in the gold price each increases the pre-tax NPV7.5 by 129% to US$75.5m, reducing the payback period to less than 2 years with an Internal Rate of Return of 37.75%.

Optimisation testing has since increased gold recoveries by 31% to 78%, alongside the co-extraction of other multiple metals.

The results of the test work also support a technically robust pathway to improved recoveries, solution management, and tailings handling: 

Metal	Average Grade g/t	Recovery Rates
Gold	0.63	78%
Silver	0.70	95%
Tellurium	12.86	96%
Gallium	17.12	20%
Rubidium	106.40	Not tested
Strontium	841.73	Not tested
Zirconium	134.28	Not tested

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