Extrakt technology increases gold recovery at Sylvanite Gold tailings by up to 63%
Fulcrum Metals plc (LON: FMET), a company focused on mineral extraction and exploration in Canada, is pleased to announce an exceptional increase in gold recoveries of up to 63% in addition to a significant reduction of leach times of up to 94% from the Phase 1 test work at the Sylvanite gold project (“Sylvanite”) and the start of the Phase 2 conceptual study at the Teck-Hughes gold project (“Teck-Hughes”).
Fulcrum is currently testing Extrakt Process Solutions LLC’s (“Extrakt”) processing technology through a four phased development programme, details of which have been set out by the Company in prior announcements.
Highlights
· Teck-Hughes Gold Tailings Project
o Phase 2 conceptual study has commenced delivering operating plans and cost estimates
o 16 site auger hole sampling near completion which will expand the data set to facilitate a 43-101 technical report
· Sylvanite Gold Tailings Project
o Initial unoptimised phase 1 leach test work results with Extrakt’s non-toxic technology delivers significant improvements compared to 2008 cyanide-based test methods
o Up to 63% increase in gold recoveries from 30% to 49%
o 94% reduction in leaching times from 48 hours to as little as 3 hours
o Extrakt believes that these results indicate that higher gold recovery can be achieved through an optimization program of the operational parameters
Ryan Mee, Chief Executive Officer of Fulcrum, commented:
“Unoptimised leach test work at Sylvanite has delivered remarkable results increasing the gold recoveries by over 60% and materially cutting leach times by over 90% compared to historic leach testing.
“Leaching is the key factor to unlocking the vast resource potential held within mine waste that sits in tailings in Kirkland Lake, one of Canada’s great gold camps with over 40Moz of gold produced.
“The unoptimised leach test work at Sylvanite and Teck-Hughes earlier this year is a significant step in proving the disruptive potential of Extrakt’s technology. The technology, which is being used by Fulcrum, places us at the forefront in discovering lost resources from mine waste including from difficult refractory ore.
Significant work at Teck-Hughes is advancing with the phase 2 conceptual study starting alongside resource definition work that could support a 43-101 technical report.”
Teck-Hughes Gold tailings project
The Company is nearing completion of its auger hole sampling campaign across an additional 16 sites (shown in Figure 1 below) and reviewing further auger sites for sampling. The results will be used by Fulcrum to further expand the data set and will contribute data that is required for the completion of a 43-101 technical report including resource definition and feed into a wider resource auger hole program in due course. Samples from the campaign, which has identified silver and tellurium results at four newly sampled auger sites, will be sent to Actlabs in Timmins to screen for gold, silver and tellurium assay.
Background
Update on licensing discussions with Extrakt
The Company announced mining option agreements to acquire the Teck-Hughes tailings project on 30 November 2023 and the Sylvanite tailings project on 10 April 2024, both located in Kirkland Lake, Ontario. On 24 January 2024, Fulcrum entered into a phased development programmes with Extrakt for the Teck-Hughes tailings project, and on 12 June 2024 for the Sylvanite Tailings Project.
Fulcrum are developing these assets with Extrakt and their sustainable technology which uses separation technology to extract metals from tailings without the use of cyanide. Licensing terms of the technology are usually agreed following the completion of the phased development program which utilises the data compiled for an effective mechanism.
Since the announcement on 30 November 2023, Fulcrum has been advancing discussions with Extrakt about the possible exclusive licensing of its proprietary technology. Non-binding terms have been agreed with Extrakt and their associates for exclusivity of Extrakt’s gold leaching technology for legacy mine waste sites for the mining regions of Timmins and Kirkland Lake in Ontario. These are two of Canada’s biggest gold camps with over 110Moz of gold produced and over 70 documented legacy mine waste sites. All parties are now focussed on documentation to close out the terms in a definitive Master Licencing Agreement (MLA).
About Extrakt
Extrakt Process Solutions is a technology company that is focused on separation technologies for recovering precious mineral recovery, hydrocarbon separation as well as dewatering of mine waste and other related processes without the use of cyanide. The company has a global patent portfolio and continues to develop new processes and technologies. See www.extraktps.com
About Bechtel
Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world’s infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place. Bechtel serves the Infrastructure; Nuclear, Security & Environmental; Energy; Mining & Metals; and Manufacturing & Technology markets. Our services span from initial planning and investment, through start-up and operations. See www.bechtel.com
Extrakt Process Solutions, LLC (Extrakt) and Bechtel Energy Technologies & Solutions, Inc. (BETS) have formed a strategic global technology alliance, to commercialize Extrakt’s novel, leaching technology and solid-liquid separation technology, known as TNS™. TNS addresses the difficult challenges of mine tailings, dewatering, and product recovery in a sustainable, effective manner. Click here to read about the strategic alliance press release.
