Fulcrum Metals (AIM: FMET) – a technology-led company focused on recovering precious metals from mine tailings in Canada – has reported that it has signed a master licence agreement with Extrakt Process Solutions. This agreement exclusively licenses Extrakt’s technology on legacy gold mine waste (tailings) to develop Fulcrum’s tailings projects in Kirkland Lake and across the mining regions of Timmins and Kirkland Lake, Ontario. The exclusivity agreement runs for an initial period of 4 years and can be extended for up to a total of 12 years by mutual agreement.
Fulcrum will apply Extrakt technology to develop its Teck Hughes and Sylvanite projects in Kirkland Lake towards production. Fulcrum’s Teck Hughes and Sylvanite projects have an estimated in situ value of over US$700m in gold, gallium, tellurium, and silver (based on today’s commodity prices).
Extrakt’s non-cyanide technology testing program at Fulcrum’s Teck Hughes project has delivered non-optimized significantly increased gold recovery rates of up to 59.4% and substantially reduced leaching times by 60%, with further optimisation upside potential. The tailings are above surface and suitable and ready for reprocessing. Fulcrum has reported that there is a clear pathway to production at its flagship Teck Hughes project, which can be scaled through tie-in of Sylvanite and other local sites and across the wider Timmins and Kirkland Lake regions within the exclusivity zone that contains over 70 mine waste sites.
Ryan Mee, CEO of Fulcrum, commented: “I am delighted we have signed the MLA and to be collaborating with Extrakt in applying their cutting-edge non-cyanide technology that has delivered breakthrough results on our projects. “We look forward to working with Extrakt to develop and unlock the substantial above surface mineral wealth at our Teck Hughes and Sylvanite projects and strengthen our exposure to other sites under this milestone exclusivity arrangement.”
William Florman, president of Extrakt, stated: “We are pleased to have entered into this unique MLA agreement with Fulcrum following the recently completed foundational step in reporting a favourable conceptual study at their Teck Hughes project and, before that, significant testing results at Sylvanite. We have seen promising results to date in applying our technology to these projects and look forward to working with Fulcrum to develop their projects and further establish our technology’s ability in Canada’s highly productive mining districts in Timmins and Kirkland Lake.”
More information is posted on www.FulcrumMetals.com and www.Extraktps.com.
