Acquisition du projet de résidus aurifères Sylvanite
10th Avril 2024
Fulcrum Metals plc
(« Fulcrum » ou la « Société » ou le « Groupe »)
Option Agreement to Acquire 100% of Sylvanite Gold Tailings Project
- Fulcrum to expand tailings portfolio and increase footprint in Kirkland Lake Gold Camp -
Fulcrum Metals plc (LON : FMET), une société axée sur l'exploration et le développement miniers au Canada, is pleased to announce that its wholly owned subsidiary Fulcrum Metals (Canada) Ltd ("FMCL") has entered into an option agreement (the "Mining Option Agreement") to acquire a 100% interest in the Sylvanite Gold Tailings project ("Sylvanite"), 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 (see announcement released on 30 November 2023) and significantly expands its footprint in the Kirkland Lake Gold Camp, one of the most productive gold camps in Canada.
Avantages
· Option to acquire 100% of the Sylvanite Gold Tailings Project
o Fourth largest gold producing mine in the Kirkland Lake gold camp having milled 4.58 million tonnes of ore and produced 1.67 million ounces between 1927 and 1961
· Historic tailings resource estimate of up to 67,051 ounces of gold which cannot be currently classified in accordance with NI 43-101.
· Based on recovery test work undertaken in 2008 it was suggested that a combination of gravity, grinding and flotation techniques might be able to boost the recovery of gold from tailings to 70%.
· Larger scale pilot plant tests were performed in 2010 and 2012 using up to 850kg of sample material which recovered approximately 65-72% of gold to a rougher concentrate**.
· Based on these results, the October 2012 continuous pilot plant campaign (undertaken by Advanced Reclaim Inc) was considered successful with the primary objectives of:
o demonstrating a viable and scalable non-chemical mineral processing approach to recovering a saleable gold concentrate; and
o leaving reprocessed tailings with properties suitable for use as a subsoil when restoring vegetation cover on the former tailings area.
· Sylvanite is less than 3km from the Teck Hughes Gold tailings project which represents an opportunity for Fulcrum to optimise resources and leverage synergies across both projects
· Sylvanite and Teck-Hughes provide Fulcrum with the potential to become cash generative using Extrakt's proven tailings technology
Ryan Mee, directeur général de Fulcrum Metals plc, a commenté :
"We are thrilled to sign our second gold tailings agreement and add Sylvanite to our project portfolio. Sylvanite is less than 3km from our first gold tailings investment, Teck-Hughes. This not only enhances our presence in the Kirkland Lake gold camp, one of the most productive gold camps in Canada, but provides us with an opportunity to create a tailings hub and, therefore, economies of scale.
"Historic results confirm that Sylvanite has the potential to become a viable project, particularly in light of the current gold spot price hovering around USD$2,200 per ounce, whilst our estimated acquisition cost is less than USD$3.80 per ounce. Investing in these tailings projects presents an exciting opportunity for Fulcrum as it brings low discovery risk assets in established mining camps into our portfolio which are less capital-intensive to advance to production and cash flow. This approach not only conserves cash resources but offers significant upside potential to Fulcrum shareholders.
"Sampling at Sylvanite and test work with Extrakt Process Solutions will follow once the current test work programme at Teck-Hughes is completed. I look forward to updating the market on our progress as we seek to evolve into a significant exploration and development company".
Extrakt Process Solution
Fulcrum is in discussions with Extrakt Process Solution ("EPS") to licence efficient and sustainable, separation technology to enhance recoveries of precious metals and de-water the tailings after the process. Fulcrum will provide a further update once all parties have finalised the scopes and executed the necessary agreements. Notably, EPS recently announced a strategic global alliance with Bechtel Energy Technologies and Solutions , Inc. ("Bechtel") to commercialise Extrakt's ground breaking TNSTM technology (see https://www.bechtel.com/newsroom/press-releases/extrakt-and-bechtel-partner-to-commercialize-groundbreaking-solid-liquid-separation-technology/).
Résumé des modalités d'acquisition
Mining Option Agreement
Under the terms of the Mining Option Agreement, Thomas O'Connor (the "Optionor") has granted Fulcrum (the "Optionee") an option to acquire a 100% interest in the Sylvanite Tailings Project. In consideration for the grant of the option Fulcrum shall make payments to the Optionor as follows:
Période | Cash CA$ | Fulcrum Shares in CA$ Value | Total CA$ |
On signing | $25,000 | $25,000 | |
Year 1 anniversary date | $52,500 | $20,000 | $72,500 |
Year 2 anniversary date | $52,500 | $20,000 | $72,500 |
Year 3 anniversary date | $55,000 | $20,000 | $75,000 |
Year 4 anniversary date | $55,000 | $40,000 | $95,000 |
Total | $240,000 | $100,000 | $340,000 |
· 'On signing' cash to be paid within 10 business days of signing the Mining Option Agreement;
· Shares in CA$ value to be paid at the 10-day Volume Weighted average price on, or before, the anniversary dates of signing the Mining Option Agreement;
· Fulcrum retains the right to pay part, or all, of the share payments in cash; and
· Fulcrum will grant the Optionor a 1.5% Net Smelter Return Royalty (the "NSR Royalty").
Once the payments above have been made, which at Fulcrum's discretion can be made in full prior to the stated dates, Fulcrum may exercise the option to acquire a 100% interest in the Sylvanite Tailings Project.
Fulcrum also has the right to terminate the Mining Option Agreement by giving 30 days' notice at any time and in the event of the Option being terminated Fulcrum would not be required to make any further payments to the Optionor.
Rachat de redevances
In addition, FMCL has an option to purchase 0.75% of the NSR Royalty (thereby reducing the NSR Royalty rate payable to the Optionors from 1.5% to 0.75%) for CAD500,000, at any time, or from time to time, after the NSR Royalty has been granted.
Sylvanite Gold Mine Tailings Project
The Sylvanite Gold Mine Tailings Property (the "Property") is located within the Timiskaming District, approximately 3 kilometres north of Kirkland Lake, Ontario (Figure 1).
The Property comprises of eight contiguous mineral claims consistant 19 mining claims (179.4 hectares) covering tailings associated with the historic Sylvanite gold mine in the Kirkland Lake camp. Located just 2.8km north east of the Teck-Hughes gold mine where Fulcrum already has an option to acquire a 100% interest in the former mine gold tailings project (see announcement released by Fulcrum dated 30 November 2023), Sylvanite's tailings have a historic resource estimate of up to 67,051 ounces of gold which cannot be currently classified in accordance with NI 43-101.
The Property hosts the tailings from the output of the Sylvanite Mine which, between 1927 and 1961, is reported to have produced approximately 1.67 million ounces of gold from over 5 million tons (4.58 million tonnes) of ore, at an average recovered grade of 0.332 oz/ton gold (10.38g/t Au), making it the fourth largest gold producer in the Kirkland Lake gold camp from 36 historic mines.
A 1986 report filed on the Property estimated a tailings resource* of 4.52 million tons (4.14 million tonnes) grading 0.015 oz/ton gold (0.47g/t Au).
In 2008 a 30m x 25m sampling grid was established with drilling to base of tailings to obtain samples for assay and recovery test work - 1.22m sample length in 149 holes totalling 926.6m - with a maximum tailings thickness of 12.2m reported. An average grade of 0.541g/t Au was reported in the 20 holes fully sampled and assayed.
Based on recovery test work undertaken in 2008 it was suggested that a combination of gravity, grinding and flotation techniques might be able to boost the recovery of gold from tailings to 70%.
Larger scale pilot plant tests were performed in 2010 and 2012 using up to 850kg of sample material which recovered approximately 65-72% of gold to a rougher concentrate**.
Based on these results, the October 2012 continuous pilot plant campaign was considered successful in the primary objectives of:
o demonstrating a viable and scalable non-chemical mineral processing approach to recovering a saleable gold concentrate; and
o leaving reprocessed tailings with properties suitable for use as a subsoil when restoring vegetation cover on the former tailings area.
*These mineral resource estimates cannot be relied on as they are pre-National Instrument 43-101 and a Qualified Person has not done sufficient work to classify the historic estimates as current mineral resources. The potential quantity and grade is conceptual in nature, and it is uncertain if further exploration will result in the delineation of a mineral resource.
**It should be noted that confirmation of the reported tailings metallurgy and gold recovery will require further on-site sampling as part of future environmental baseline and mine planning activities. Further understanding of the tailings bed composition and surrounding topography is essential to design a minimally-invasive tailings management facility that promotes on-site tailings processing, remediation and disposal.
Figure 1 - property location
Déclaration de personne qualifiée
Les informations techniques contenues dans cette annonce ont été examinées par Edward (Ed) Slowey, BSc, PGeo, conseiller technique de Fulcrum Metals Plc. M. Slowey est un géologue diplômé avec plus de 40 ans d'expérience pertinente dans l'exploration et l'exploitation minières et membre fondateur de l'Institut des géologues d'Irlande. M. Slowey possède une expérience suffisante en ce qui concerne le style de minéralisation et le type de gisement considéré ainsi que l'activité qui a été entreprise pour se qualifier en tant que « personne qualifiée » conformément à la note d'orientation des règles AIM pour les sociétés minières, pétrolières et gazières. M. Slowey consent à l'inclusion dans l'annonce des affaires sur la base de leurs informations dans la forme et le contexte dans lesquels elles apparaissent.
-Prend fin-
Pour plus d'informations s'il vous plaît visitez https://fulcrummetals.com/ ou communiquez avec:
Fulcrum Metals PLC | |
Ryan Mee (directeur général) | Via St Brides Partners Limited |
Allenby Capital Limited (Conseiller désigné) | |
Nick Athanas / George Payne | Ttel: +44 (0) 203 328 5656 |
Clear Capital Markets Limitée (Broker) | |
Bob Robert | Ttel: +44 (0) 203 869 6081 |
St Brides Partners Ltd (RP financier) | |
Ana Ribeiro / Paul Dulieu | Tel: + 44 (0) 20 7236 1177 |
Notes aux rédacteurs
MÉTAUX D'APPUI - CONTEXTE
Fulcrum Metals PLC (LON : FMET) est une société d'exploration cotée à l'AIM qui finance et gère des projets d'exploration axés sur le Canada, largement reconnu comme l'une des principales juridictions minières.
Fulcrum détient actuellement une participation bénéficiaire de 100 % dans des projets d'or et de métaux de base très prometteurs en Ontario et dans des projets d'uranium en Saskatchewan.
La stratégie de Fulcrum est de se concentrer sur la découverte et la commercialisation de ses projets à travers des programmes d'exploration ciblés. L'objectif principal est de faire une découverte économique sur les propriétés phares de Schreiber-Hemlo et d'établir la prospectivité de son portefeuille plus large en Ontario et en Saskatchewan en vue d'obtenir un intérêt potentiel en coentreprise et/ou en acquisition.
Les propriétés Schreiber - Hemlo ont un historique de prospection et d'extraction localisée depuis la fin du 19e siècle. Cependant, les programmes d'exploration cohérents au niveau des propriétés ont été limités ou inexistants, en particulier ces derniers temps. Fulcrum a l'opportunité de réaliser un tel programme et cette approche offre la meilleure opportunité d'explorer pleinement la prospectivité significative des propriétés. Une récente étude structurale a identifié 42 cibles d'exploration prioritaires, dont 24 sur la propriété Big Bear et 18 sur la propriété Jackfish, avec 14 au total (9 sur Big Bear et 5 sur Jackfish) classées comme hautement prioritaires pour un suivi. Les propriétés ont le potentiel d'héberger un vaste prospect aurifère de formation de fer rubané (BIF), structurellement contrôlé, semblable au gisement Musselwhite (McNicoll et al., 2016), en plus d'un filon d'or filonien de roches vertes archéennes de style orogénique. prospect, s'étendant au-delà des limites des occurrences minérales historiques connues.
La propriété Tully, d'une superficie de 458 hectares, est située à 30 kilomètres au nord-est de Timmins, en Ontario et comprend le gisement Tully (Timmins Nord), qui a fait l'objet de plusieurs campagnes de forage depuis sa découverte en 1969. Le gisement Tully est situé à 2 kilomètres au sud-ouest du projet aurifère Bradshaw de Gowest Gold Ltd., actuellement en développement. On accède à la propriété par une route de gravier praticable en toutes saisons qui s'étend sur 15 kilomètres à l'est à partir de l'autoroute 655.
Bien que très prometteurs, les actifs miniers de Fulcrum sont en phase d'exploration, Fulcrum devrait donc être en mesure d'ajouter de manière significative à la valeur inhérente grâce au succès de l'exploration. Fulcrum examinera continuellement les opportunités présentant un potentiel et en vue d'augmenter la valeur actionnariale. L'intention du Conseil d'administration est de générer une croissance à moyen et long terme et de faire du Groupe une société d'exploration importante.
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