Business
Drilling Update on Tully Gold Project & Big Bear
Drilling Update on Tully Gold Project & Big Bear.
About this update from Fulcrum Metals Plc
[{"type":"text","content":"\n\n \n18 September 2023\n \n \nFulcrum Metals plc\n(\"Fulcrum\" or the \"Company\" or the \"Group\")\n \nDrilling Programme Update on Tully Gold Project and Big Bear\n \nFulcrum Metals plc (LON: FMET), a company focused on mineral exploration and development in Canada, is pleased to provide an update on the Company's proposed drilling programmes for the Tully Gold Project (\"Tully\") and the Big Bear Project (\"Big Bear\"), which are both part of the Group's Ontario projects.\nHighlights\nSchreiber-Hemlo project - Big Bear\nResults from the recent mapping and prospecting campaign across the Schreiber-Pyramid area have exceeded the Company's initial expectations. A 3km gold mineralised corridor has been identified with rock samples of up to 45g/t Au, soil samples of up to 0.92g/t Au along with favourable geology, shear zones and structures. This has generated 4 drill ready prospects and a further 5 prospects for further follow-up, whilst remaining open for additional discoveries along strike and to the north.\nThis all lends itself to a larger drill programme than that was originally envisaged and which the Company had planned to commence by October 2023. As such, subject to funding, the Company is now planning an exploration programme to progress the drill prospects to drill ready followed by a drilling campaign across multiple drill targets during 2024 to discover the potential of this newly identified gold corridor. This will benefit the Company through a wider high impact multi target drilling campaign and the approach will result in operational savings due to mobilisation costs. The Company have now commenced preparation of this larger programme which includes the recent submission of additional drill permits.\n \nTully Gold project\n \nThe Tully Gold project, which the company recently acquired (announced by the Company on 7 August 2023), is optimised in terms of mobilisation and drilling costs through the winter due to less marshy ground conditions. Tully is located within the world-class Timmins-Porcupine Gold Camp, with an established gold resource, local infrastructure, and expansion opportunities through drilling/infill drilling and re-interpretation of historical data to confirm grade and continuity of mineralisation. The drill preparation is underway which not only includes plannin...