Fulcrum Metals PLC (AIM:FMET) has announced the results of a regional structural study based on satellite data over the Big Bear and Jackfish properties that are part of the group's Schreiber-Hemlo project in Ontario which has identified 42 priority exploration targets within the two properties.
On 17 November 2022, the company - which is focused on mineral exploration and development in Canada - engaged Murphy Geological Services, an industry leader in satellite structural interpretation, to define the structural framework of the Big Bear and Jackfish properties and generate targets for gold exploration within the properties.
The study produced by Murphy Geological Services has been finalised by the company following the results of the Big Bear prospecting programme announced on 2 March 2023.
Of the 42 priority exploration targets identified, 24 targets are within the Big Bear property and 18 in the Jackfish property, with 14 in total (nine on Big Bear and five on Jackfish) being ranked as high priority for follow-up.
The targets are based on a number of criteria, including the presence of major shears, shear intersections, inflections and splays along shears, prominent aeromagnetic lineaments, proximity to sheared lithological contacts, presence of known mineral occurrences and anomalous values from soil and rock samples.
At Big Bear, integration with the previous airborne magnetic survey shows a very good correlation between the lineaments on the aeromagnetic data for the Big Bear property and high priority 1 target BB10 and the interpreted structure in the pyramid Schreiber area with several high-grade gold in rock samples of up to 45 grams per ton (g/t).
This will be further appraised for the Big Bear property when results of the additional planned airborne surveying are received, the company said.
At Jackfish, high priority 1 target JFL17 corroborates previous exploration undertaken at the Jackfish property which identified widespread mineralisation with high-grade gold in rock samples of up to 39.8 g/t from 2021 fieldwork.
Follow-up fieldwork is currently being planned to check several of the high-priority targets, commencing as soon as ground conditions in Ontario allow.
In a statement, Ryan Mee, chief executive officer of Fulcrum Metals, commented: "Murphy Geological Services are industry leaders in satellite structural interpretation, and I am pleased that this work has not only identified 42 priority exploration targets at the Schreiber-Hemlo project but also corroborated the interpreted structure in the Pyramid Schreiber area of the Big Bear property which returned several high-grade gold in rock samples in excess of 10 g/t up to 45 g/t.
"Furthermore, the correlation of these targets validates the work undertaken by Fulcrum at the Jackfish property, which also returned several high-grade gold in rock samples of up to 39.8 g/t. This increases our confidence in the potential of those priority targets identified by the structural survey and endorses our belief that the Schreiber-Hemlo properties are highly prospective. We look forward to informing the market of follow-up exploration fieldwork for 2023 in due course."
Fulcrum currently holds a beneficial 100% interest highly prospective gold and base metals projects in Ontario and uranium projects in Saskatchewan.
Fulcrum's strategy is to focus on discovery and commercialisation of its projects through targeted exploration programmes. The primary focus is to make an economic discovery on the flagship Schreiber-Hemlo Properties and establishing the prospectivity of its wider Ontario and Saskatchewan portfolio with a view to securing potential joint venture and/or acquisition interest.