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Fulcrum Metals: Tailings Project Option
Fulcrum Metals: Tailings Project Option.
About this update from Panther Metals Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n\n\n\n\nFOR IMMEDIATE RELEASE\n\n\n\n\n\n\n\nPANTHER METALS PLC\n(\"Panther\" or the \"Company\")\n(Incorporated in the Isle of Man with company number 009753V)\n30 November 2023\nFulcrum Metals: Tailings Project Option\n\n \nPanther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, is pleased to note the Fulcrum Metals PLC (\"Fulcrum\", LON: FMET) announcement that they have entered into an option agreement (the 'Option Agreement') to acquire a 100% interest in the Teck Hughes Gold Tailings project ('Teck-Hughes'), located in Kirkland Lake, Ontario, Canada. \nIn addition, the Fulcrum have announced that they are in advanced discussions with Extrakt Process Solutions ('Extrakt'), regarding the licensing of its proprietary separation technology to extract metals from mine processing tailings without the use of cyanide.\nPanther currently holds a total of 9,971,839 ordinary shares in Fulcrum representing a 19.99% interest in the entire issued share capital of Fulcrum, plus 714,286 warrants exercisable at 17.5p with a two-year life from 14 February 2023 and a further 476,190 warrants exercisable at 26.25p with a three-year life. Panther also retains a 2% net smelter return (\"NSR\") royalty over the Big Bear Project.\nFulcrum Announcement Highlights\n· Fulcrum agreed Option Agreement to acquire 100% of Teck-Hughes Gold Tailings Project. The historical Teck-Hughes mine milled 9,565,302 tonnes of ore and produced 3,700,007 ounces of gold between 1917 and 1968.\n· Historic drilling campaigns have been taken across the tailings, the first in 1980 (9 holes) and the most recent between 2018/19 and 2022:\no As part of the most recent campaigns a total of 95 auger samples were assayed with the highest sample returning 1.23g/t Au and with 72 of the 95 samples assaying between 0.5 to 0.8 g/t Au, and an average sample grade 0.66g/t Au.\no Based on all the drilling data a historical (non-compliant) unverified estimate of 6.5Mt of tailings containing 138,460 ounces conta...