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(Sharecast News) - Fulcrum Metals said on Monday that optimisation trials at its Teck Hughes tailings project in Kirkland Lake, Ontario, had lifted gold recovery to as much as 78%, strengthening the economic potential of the project and supporting a pathway toward commercialisation.
The AIM-traded company said phase three optimisation work undertaken with Extrakt Process Solutions and Testing Design Implement Solutions delivered a 31% increase in gold recovery compared with phase one testing, alongside the recovery of multiple co-products from a single-stage, in-situ, cyanide-free process.
Reported recoveries included up to 95% silver, 96% tellurium, 85% copper and 20% gallium.
Based on test work, revised metal prices, auger drilling results and estimated tonnage, Fulcrum said the Teck Hughes project had an indicative in-situ metal value of about $750m, with a conceptual potential recoverable value of more than $550m.
The firm stressed that the figures were conceptual in nature and did not constitute mineral resources or reserves.
It said the phase three results also demonstrated operational improvements, including an optimised leaching cycle time of six hours, dewatering times of less than one minute producing around 80% dry stack material, and recovery of roughly 80% of water and reagents for reuse.
Test work on the Extrakt Reagent Management System indicated the potential to reduce process solution volumes by around 80% while increasing precious metal concentrations by 85% to 90%, although further validation is required at larger and pilot scale.
"The Extrakt technology has delivered results which significantly upgrades the economic potential of our Teck Hughes project and supports effective site rehabilitation," said chief executive Ryan Mee.
"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."
Mee said the combination of high and rapid metal recoveries, efficient dewatering and solution management had "positive implications for both the mining industry and the environment", and confirmed the company is in discussions with Extrakt on further optimisation and monetisation of additional co-products.
"I will keep investors updated on further developments," he added.
Fulcrum said it was assessing the next phase of optimisation and commercialisation through larger-scale and pilot-scale testing, as it advanced Teck Hughes toward production and evaluates the potential to integrate nearby tailings assets into a regional processing hub.
At 1207 GMT, shares in Fulcrum Metals were up 2.74% at 8.99p.
Reporting by Josh White for Sharecast.com.