Adquisición del Proyecto de Relaves de Oro Sylvanite
10th Abril de 2024
Fulcrum Metals plc
("Fulcrum" o la "Compañía" o el "Grupo")
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), una empresa enfocada en la exploración y desarrollo de minerales en Canadá, 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.
Destacados
· 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, director ejecutivo de Fulcrum Metals plc, comentó:
"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$3.80 per ounce. Investing in these tailings projects presents an exciting opportunity for Fulcrum as it brings low discovery risk assets in established mining camps into our portfolio which are less capital-intensive to advance to production and cash flow. This approach not only conserves cash resources but offers significant upside potential to Fulcrum shareholders.
"Sampling at Sylvanite and test work with Extrakt Process Solutions will follow once the current test work programme at Teck-Hughes is completed. I look forward to updating the market on our progress as we seek to evolve into a significant exploration and development company".
Extrakt Process Solution
Fulcrum is in discussions with Extrakt Process Solution ("EPS") to licence efficient and sustainable, separation technology to enhance recoveries of precious metals and de-water the tailings after the process. Fulcrum will provide a further update once all parties have finalised the scopes and executed the necessary agreements. Notably, EPS recently announced a strategic global alliance with Bechtel Energy Technologies and Solutions , Inc. ("Bechtel") to commercialise Extrakt's ground breaking TNSTM technology (see https://www.bechtel.com/newsroom/press-releases/extrakt-and-bechtel-partner-to-commercialize-groundbreaking-solid-liquid-separation-technology/).
Summary of Acquisition Terms
Mining Option Agreement
Under the terms of the Mining Option Agreement, Thomas O'Connor (the "Optionor") has granted Fulcrum (the "Optionee") an option to acquire a 100% interest in the Sylvanite Tailings Project. In consideration for the grant of the option Fulcrum shall make payments to the Optionor as follows:
periodo | Cash CA$ | 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.
Buy Back of Royalty
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 que consiste en 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
Declaración de persona calificada
La información técnica de este anuncio ha sido revisada por Edward (Ed) Slowey, BSc, PGeo, asesor técnico de Fulcrum Metals Plc. El Sr. Slowey es un geólogo graduado con más de 40 años de experiencia relevante en exploración y minería de minerales y miembro fundador del Instituto de Geólogos de Irlanda. El Sr. Slowey tiene suficiente experiencia relevante para el estilo de mineralización y el tipo de depósito en consideración y para la actividad que se ha llevado a cabo para calificar como una "Persona Calificada" de acuerdo con la Nota de Orientación de Reglas AIM para Empresas Mineras y de Petróleo y Gas. El Sr. Slowey consiente en la inclusión en el anuncio de los asuntos en base a su información en la forma y contexto en que aparece.
-Fin-
Para más información, visite https://fulcrummetals.com/ o contacte:
Fulcrum Metales PLC | |
Ryan Mee (director ejecutivo) | Vía St Brides Partners Limited |
Allenby Capital Limited (asesor designado) | |
Nick Athanas/George Payne | TTeléfono: +44 (0) 203 328 5656 |
Claro Capital Markets Limited (Broker) | |
Bob Roberts | TTeléfono: +44 (0) 203 869 6081 |
St Brides Partners Ltd (relaciones públicas financieras) | |
Ana Ribeiro / Pablo Dulieu | Tel: + 44 (0) 20 7236 1177 |
Notas a los editores
METALES FULCRUM - ANTECEDENTES
Fulcrum Metals PLC (LON: FMET) es una compañía de exploración cotizada en AIM que financia y administra proyectos de exploración enfocados en Canadá, ampliamente reconocida como una jurisdicción minera de primer nivel.
Fulcrum actualmente posee una participación beneficiosa del 100 % en proyectos de oro y metales básicos altamente prospectivos en Ontario y proyectos de uranio en Saskatchewan.
La estrategia de Fulcrum es centrarse en el descubrimiento y la comercialización de sus Proyectos a través de programas de exploración específicos. El enfoque principal es hacer un descubrimiento económico en Schreiber-Hemlo Properties y establecer la prospectividad de su cartera más amplia de Ontario y Saskatchewan con miras a asegurar una empresa conjunta potencial y/o un interés de adquisición.
Las propiedades Schreiber - Hemlo tienen un historial de prospección y extracción localizada desde finales del siglo XIX. Sin embargo, los programas coherentes de exploración a nivel de propiedad han sido limitados o inexistentes, particularmente en los últimos tiempos. Fulcrum tiene la oportunidad de llevar a cabo dicho programa y este enfoque brinda la mejor oportunidad para explorar completamente la importante prospectividad de las propiedades. Un estudio estructural reciente identificó 19 objetivos de exploración prioritarios, de los cuales 42 objetivos dentro de la propiedad Big Bear y 24 en la propiedad Jackfish, con 18 en total (14 en Big Bear y 9 en Jackfish) clasificados como de alta prioridad para el seguimiento. Las propiedades tienen el potencial de albergar una gran perspectiva de oro de formación de hierro en bandas (BIF) de estilo estratoligado, estructuralmente controlada, similar al depósito Musselwhite (McNicoll et al., 2016), además de una veta de oro de estilo orogénico de piedra verde arcaica. prospecto, que se extiende más allá de los límites de las ocurrencias minerales históricas conocidas.
La propiedad Tully, de 458 hectáreas de superficie, está ubicada a 30 kilómetros al noreste de Timmins, Ontario e incluye el depósito Tully (Timmins North), que ha sido el foco de varias campañas de perforación desde su descubrimiento en 1969. El depósito Tully está ubicado a 2 kilómetros al suroeste del Proyecto de Oro Bradshaw de Gowest Gold Ltd., actualmente en desarrollo. Se accede a la propiedad por un camino de ripio para todo clima que se extiende 15 kilómetros al este de la carretera 655.
Si bien son altamente prospectivos, los activos mineros de Fulcrum se encuentran en la fase de exploración, por lo que Fulcrum puede agregar significativamente al valor inherente a través del éxito de la exploración. Fulcrum revisará continuamente las oportunidades con potencial y con miras a aumentar el valor para los accionistas. La intención de la Junta es lograr un crecimiento a mediano y largo plazo y establecer al Grupo como una importante empresa de exploración.
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