Business
Update on Saskatchewan uranium projects
Update on Saskatchewan uranium projects.
About this update from Fulcrum Metals Plc
[{"type":"text","content":"\n\nFulcrum Metals plc / EPIC: FMET / Market: AIM / Sector: Mining\n \n \n27 November 2023\n \n \nFulcrum Metals plc\n(\"Fulcrum\" or the \"Company\" or the \"Group\")\n \nUpdate on Saskatchewan uranium projects\n \n \nFulcrum Metals plc (LON: FMET), a company focused on mineral exploration and development in Canada, is pleased to announce an update on its Saskatchewan exploration assets. Through a combination of staking 29,362 hectares and acquiring an option over a further 11,481 hectares, the Company has increased its Saskatchewan uranium footprint by a potential 221% from 18,468 hectares (184.5km2) to 59,310 hectares (593.1km2), which now consists of the Charlot-Neely Lake, Fontaine Lake, Snowbird and South Pendleton projects.\n \nHighlights\n \n· Charlot-Neely Uranium project - an additional 2,703 hectares staked covering the highly prospective Black Bay Fault contiguous to the Charlot-Neely uranium project and 1,188 hectares optioned covering an area to the west of Charlot-Neely which now totals 16,372 hectares (+31%).\n· Snowbird project - 24,187 hectares staked and option over 8,649 hectares, totalling 32,835 hectares. The property includes several uranium airborne anomalies and rare earth lake sediment anomalies along major faulting on trend with historic uranium mines and major uranium projects.\n· South Pendleton - 2,472 hectares staked and option over 1,644 hectares, totalling 4,116 hectares. The area is sparsely mapped but within the property are several airborne uranium anomalies in the highly prospective Needle Falls Shear Zone and major faulting on trend with historic uranium mines such as Rabbit Lake and further projects having recently obtained significant partnerships.\n· The option agreement totals 11,481 hectares and has a close date of 30 June 2024. The Company has paid CA$5,000 in cash immediately, with CA$60,000 payable in either cash or equity should the option agreement be exercised.\n· The cost of the staking totalled CDN$17,889 with these properties having no work requirements until October 2025, whilst the optioned properties have work requirements of CDN$57,073 through to the end of 2024.\n· Following the addition of the new staked and areas under o...