Fulcrum Metals [LON:FMET], an AIM listed multi-commodity explorer with a portfolio of gold, base metal, and uranium projects in Canada has announced that its wholly owned subsidiary, Fulcrum Metals (Canada) Ltd has entered into an option agreement to acquire a 100% interest in the Sylvanite Gold Tailings project, located in Kirkland Lake, Ontario, Canada.
Sylvanite, an ex-producing mine, is strategically located 3km from Fulcrum’s Teck-Hughes Gold Tailings project, the Company’s first tailings investment and significantly expands its footprint in the Kirkland Lake Gold Camp, one of the most productive gold camps in Canada.
In this video, Ryan Mee, CEO of Fulcrum Metals discusses his plans for the Sylvanite Gold Tailings project in Kirkland Lake, Ontario with Tom Warner, Media Analyst at focusIR.
He talks about why Fulcrum has disposed of its uranium assets, the importance of the sale of its uranium assets last week, where the business expects to find efficiencies from having two adjacent sites and what investors can expect from the upcoming Teck-Hughes gold sampling results.
What is the Sylvanite Project?
The Sylvanite Project is just a few kilometres from Fulcrum’s existing Teck Hughes Tailing Project, where a programme of sampling work is currently underway. Mee says the proximity of the two sites means that Fulcrum will “look at how [it] may be able to co-mingle production or even do back-to-back production.”
The two projects are the first two elements of what Mee hopes will become a regional tailings hub for the historically productive Kirkland Lake area. He acknowledges that the success of the venture will depend on the power of its technology and expresses confidence in Fulcrum’s technology partners Extrakt, with whom it is already working closely at Teck Hughes.
Mee also looks ahead to the future, suggesting investors should soon expect to see the results of a period of hard work for the company. He points to record-high gold prices, the low jurisdictional risk that comes with Fulcrum’s focus on Canada, and the low discovery risk that comes with tailings as reasons for investors to be confident in the company as it moves into an important new phase.
Mee says that “we’re trying to provide investors with low discovery risk, low jurisdictional risk but high rewards – and we’re very confident that we’ll be able to deliver that.”
