Fulcrum Metals reports further progress at Kirkland Lake
By Josh White
Date: Tuesday 25 Nov 2025
(Sharecast News) - Fulcrum Metals reported further progress at its Kirkland Lake tailings projects on Tuesday, and announced the appointment of engineering group WSP Canada to advise on permitting strategies, as new sampling at the Sylvanite site delivered the highest gold grades recorded to date.
The AIM-traded company, which is developing cyanide-free technologies to recover metals from mine waste, said recent surface grab samples at Sylvanite averaged 1.25 grams of gold per tonne, with a peak assay of 2.25 grams per tonne over 0.7 metres.
It said the results compared with historical averages of around 0.5 to 0.6 grams per tonne and built on Fulcrum's earlier 2024 sampling programme.
At Teck Hughes, the ongoing auger drill programme has been expanded to around 150 holes following site meetings with contractors.
Photon gold assays had been returned for 94 holes, including best interval results of 1.62 grams per tonne over 0.8 metres and a broader 1.02 grams per tonne over 4.75 metres from surface.
The deepest hole reached 12.4 metres.
Samples had now been sent to Actlabs for fire assay and ICP-MS analysis, which would also assess critical mineral and rare earth potential, including silver, gallium and tellurium.
Additional auger holes are planned to delineate the base of the tailings and provide material for deeper core drilling.
Fulcrum said phase three metallurgical test work was progressing with partner Extrakt, using its cyanide-free leach and TNSTM solid-liquid separation technologies.
Results, due by the end of December, would inform metallurgical recovery assumptions and support the development of a NI 43-101 mineral resource estimate, a technical report and a subsequent pre-feasibility level assessment.
At Sylvanite, historical data showed 149 holes drilled in 2008, with fully assayed holes averaging 0.54 grams of gold per tonne.
Including Fulcrum's 2024 work, 31 surface samples averaged 0.65 grams per tonne, rising to 1.25 grams per tonne in the latest infill samples.
Additional scout auger holes were now under way to the north, east and south to guide the next stage of systematic drilling.
WSP had been appointed to undertake a gap analysis focused on permitting pathways for both projects.
Fulcrum said the firm had extensive experience supporting mining and environmental approvals in the Kirkland Lake region.
Management also highlighted "positive alignment meetings" with government departments during recent site visits.
"We are making significant progress to advance our Kirkland Lake projects to production," said chief executive Ryan Mee.
"The expanded auger drill programme at Teck Hughes is nearly complete and new sampling at Sylvanite has just produced our highest gold assays to date of up to 2.25 grams per tonne with further sampling underway," said chief executive Ryan Mee.
"The appointment of WSP, who have extensive experience in mine approval, engineering and technical experience, is another milestone for the Company, as we continue to advance discussions with all stakeholders."
Fulcrum noted that historic estimates suggest Teck Hughes may contain about 6.5 million tonnes of material grading 0.66 grams of gold per tonne for 138,460 ounces, while Sylvanite could host about 4.1 million tonnes at 0.47 grams per tonne for roughly 67,000 ounces, though both figures remained to be verified.
At 0851 GMT, shares in Fulcrum Metals were down 3.7% at 6.5p.
Reporting by Josh White for Sharecast.com.
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