Exploration Update11 May 2023 09:09
From todays RNS. Starting to move :)
Schreiber-Hemlo Project, Ontario
· Initial focus is on the Big Bear property, aimed at advancing the project to drilling stage in Q3 2023.
· Commencing later this month, a second phase of geological mapping and sampling is planned to further refine the multiple targets identified, building on the very positive results of the first prospecting phase and the recent structural study which identified 42 priority exploration targets across the wider Schreiber-Hemlo project.
· Gold mineralisation occurs in quartz-carbonate veins hosted in mafic volcanic rocks (up to 45g/t Au in grab samples) and within sulphide bearing banded iron formation ("BIF") (up to 3.62g/t Au) which has the potential for thicker and more laterally extensive mineralisation.
· The Company contracted an airborne magnetic and electromagnetic ("EM") survey covering 683 line kms, which has now been completed, and when combined to existing airborne data provides complete coverage of the entire Big Bear property. The final results and analysis are expected early Q3 2023. An earlier airborne survey shows a number of anomalies that suggest quite widespread BIF occurrence.
· Following on from the phase 2 mapping/sampling programme and the further airborne surveying, targets will be ranked for initial diamond drill evaluation and testing.
Tocheri Lake, Ontario
· High-quality airborne magnetic and Transient Electromagnetic Method ("TDEM") surveys covering 232 line kms has now been completed with full results expected in early Q3 2023. This approach has been successful in generating exploration targets and resulted in high-grade nickel sulphide discoveries in the adjoining Tyco project held by Palladium One Mining Inc.
Winston Lake, Ontario
· This project has recently been expanded through the acquisition of 42 additional mining claims covering a sedimentary-volcanic contact zone reportedly exhibiting similar alteration to the historic Winston Lake base/precious metal deposit which was reported to be the highest-grade Zinc mine in North America.
· Historic sampling results from Fulcrum's new claims are reported to include grab samples of up to 1.35% and 0.97% copper and anomalous copper in soils of up to 1,100ppm over an area of 2 square kilometres.
Charlot - Neely Lake and Fontaine Lake Projects, Saskatchewan
· The Company has engaged a remote sensing specialist, Dr Neil Pendock, to undertake a detailed hyperspectral data analysis over the Fulcrum properties, focussed particularly on uranium and rare earth element targets, utilising Sentinel-2 satellite data.
· The analysis highlighted several consistent trends which may represent spectral fingerprints for uranium and rare earth elements. These data will be supplemented with the historic technical reports and government and provincial databases in refining exploration targets for 2023.
Sign In
Follow the stocks
