Fulcrum Metals (AIM: FMET) has reported major progress at its Teck Hughes tailings project, with Phase 3 optimisation trials delivering a 31% improvement in gold recovery to 78% using Extrakt’s cyanide-free technology.
The process also recovered significant co-products, including up to 95% silver, 96% tellurium, 85% copper and 20% gallium. Fulcrum estimates an indicative in-situ metal value of around US$750 million, with a conceptual recoverable value exceeding US$550 million. Further work will focus on boosting gallium recovery and assessing additional mineral opportunities as the company evaluates larger-scale and pilot testing for commercialisation.
Highlights
· Gold recovery of up to 78% – a 31% increase from Phase 1 testing
· Recovery of multiple co-products including up to 95% silver, 96% tellurium, 85% copper and 20% gallium
· Indicative in-situ metal value of approximately US$750 million, with a conceptual potential recoverable value of over US$550 million, based on recovery test work, revised metal prices, auger hole results and estimated tonnage (Figure 3) (These figures are conceptual in nature and do not constitute Mineral Resource or Reserves)
· Further optimisation work is needed to improve gallium recovery and additional potentially valuable minerals recovery that remain untested
· Phase 3 Test results support a technically robust pathway to improved gold recovery, solution management, and tailings handling: –
o Optimised leaching cycle time of just 6 hours, supporting high throughput
o Rapid dewatering times of less than 1 minute, producing approximately 80% dry stack material which may reduce handling costs
o Operating cost efficiencies with approximately 80% of water and reagents recovered for reuse, reducing demands on downstream equipment
o Extrakt Reagent Management System (“ERMS”) test work indicates the potential for significant benefits, reducing process solution volume by about 80% while increasing precious metal concentrations by 85-90%
· The Company is assessing the next step of optimisation and commercialisation through larger scale and pilot scale testing subject to technical review
Ryan Mee, Chief Executive Officer of Fulcrum, commented:
“The Extrakt technology has delivered results which significantly upgrades the economic potential of our Teck Hughes project and supports effective site rehabilitation.
The results from Fulcrum and Extrakt’s work programmes validate Extrakt’s technology as an emerging disruptive Zero-Cyanide Zero-Waste, closed loop tailing recovery process. Fast and high co-product metal recoveries from a single stage leach configuration, a rapid dewatering process recovering water and reagent and the EMRS reducing solution volume all have positive implications for both the mining industry and the environment.
We are in discussions with Extrakt on further steps to optimise recoveries and monetise a wider range of co-products. I will keep investors updated on further developments.”
