Business
Exploration Update
Exploration Update.
About this update from Fulcrum Metals Plc
[{"type":"text","content":"\n\n11 May 2023\n \nFulcrum Metals plc\n(\"Fulcrum\" or the \"Company\" or the \"Group\")\n \nExploration Update\nFulcrum Metals plc (LON: FMET), a company focused on mineral exploration and development in Canada, is pleased to provide a detailed update on its exploration activities in both Ontario and Saskatchewan. \nWork undertaken to date by the Company is in line with the Company's strategy to accelerate exploration across its projects to improve the understanding of these highly prospective assets with the view to increasing shareholder value. \nSignificant progress has been made in the last three months since the Company's admission to trading on the AIM market of the London Stock Exchange on 14 February 2023 and the next programme steps are at an advanced planning stage as outlined below:\nSchreiber-Hemlo Project, Ontario\n \n· Initial focus is on the Big Bear property, aimed at advancing the project to drilling stage in Q3 2023.\n· Commencing later this month, a second phase of geological mapping and sampling is planned to further refine the multiple targets identified, building on the very positive results of the first prospecting phase and the recent structural study which identified 42 priority exploration targets across the wider Schreiber-Hemlo project.\n· Gold mineralisation occurs in quartz-carbonate veins hosted in mafic volcanic rocks (up to 45g/t Au in grab samples) and within sulphide bearing banded iron formation (\"BIF\") (up to 3.62g/t Au) which has the potential for thicker and more laterally extensive mineralisation.\n· The Company contracted an airborne magnetic and electromagnetic (\"EM\") survey covering 683 line kms, which has now been completed, and when combined to existing airborne data provides complete coverage of the entire Big Bear property. The final results and analysis are expected early Q3 2023. An earlier airborne survey shows a number of anomalies that suggest quite widespread BIF occurrence.\n· Following on from the phase 2 mapping/sampling programme and the further airborne surveying, targets will be ranked for initial diamond drill evaluation and testing.\n \nTocheri Lake, Ontario\n \n· High-quality airborne magnetic and Transient Electro...