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LONDON - Fulcrum Metals PLC (AIM:FMET) announced Tuesday that preliminary results from its cyanide-free metal recovery technology at the Teck Hughes mine tailings project in Kirkland Lake, Ontario have achieved gold and silver recoveries exceeding 70%.
The company reported an 18% relative increase in gold leach recoveries from the previously reported 59.4% to above 70%, along with silver leach recoveries also exceeding 70%. The testing program has been extended to assess final recoveries and potential extraction of other metals including gallium and tellurium.
These preliminary results are part of Fulcrum’s phase 3 development work with Extrakt Process Solutions LLC, which began in September 2025. The final results from this metallurgical testing phase are expected in Q1 2026.
The ongoing work aims to optimize leach recoveries, reagent recycling, mass flow, dewatering, and upscaling parameters. Results from this testing, along with an ongoing auger drilling program, will support a 43-101 compliant Mineral Resource Estimate leading to a Preliminary Feasibility Study.
Ryan Mee, Chief Executive Officer of Fulcrum, stated that the combination of these preliminary recoveries and current gold prices over $4,000 per ounce "has the potential to justify significant increases" in the company’s previous NPV estimate of $33 million for Teck Hughes.
A previous conceptual study for Teck Hughes, based on processing 2,000 tonnes of tailings daily over nine years with a 59.4% gold recovery rate and gold price of $2,899 per ounce, suggested a pre-tax NPV of approximately $33 million, according to a company statement from March 2025.
Fulcrum holds an exclusive Master License Agreement for Extrakt’s cyanide-free technology for gold mine waste sites in the Timmins and Kirkland Lake mining districts, which have historically produced over 110 million ounces of gold.
The information is based on a press release statement from Fulcrum Metals.
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