Fulcrum Lithium Uncovers Vast Lithium Deposit at Alkali Flats – What’s Next?
Fulcrum Lithium has reported a significant lithium mineralisation discovery at its Alkali Flats project in Nevada, with high-grade assays over thick claystone intervals and a large mineralised area. The company is advancing to appraisal with expanded claims and ongoing metallurgical work.
- Phase 2 drilling confirms lithium mineralisation over at least 9 km²
- High lithium grades up to 1077ppm over thick claystone intervals
- Project footprint expanded to 66 km² with new claims staked
- Geophysical survey completed to guide Phase 3 drilling campaign
- Fairway and Summit projects deemed non-prospective, claims not renewed
Significant Lithium Discovery at Alkali Flats
Fulcrum Lithium Ltd has announced a breakthrough in its Nevada lithium exploration with the Phase 2 reverse circulation drilling campaign at the Alkali Flats project revealing substantial lithium mineralisation. The drilling intersected lithium-bearing claystones in all holes penetrating the Siebert Formation, with thicknesses reaching up to 112 metres. Assay results are compelling, including intervals such as 10.7 metres at 904ppm lithium and 6.1 metres at 938ppm lithium, underscoring the project's potential.
The mineralised zone spans at least 9 square kilometres and remains open in all directions, suggesting a sizeable lithium deposit. This discovery marks a pivotal step for Fulcrum, transitioning the project into an appraisal phase with enhanced geological modelling and initial metallurgical testing underway.
Project Expansion and Strategic Focus
Following the encouraging drilling results and geophysical surveys, Fulcrum has expanded its Alkali Flats project footprint by staking an additional 281 unpatented lode claims, increasing the total area to approximately 66 square kilometres. These claims are located on federally administered public lands in Esmeralda County, Nevada, securing rights to subsurface minerals under US mining laws.
The company has completed a Controlled-Source Audio-Frequency Magnetotelluric (CSAMT) geophysical survey to map potential extensions of the lithium claystone mineralisation. This data will inform the planning of the upcoming Phase 3 drilling campaign, aiming to further delineate the resource.
Portfolio Rationalisation and Corporate Updates
In contrast to the success at Alkali Flats, Fulcrum has decided not to renew claims at its Fairway and Summit projects after drilling and sampling programs indicated limited lithium prospectivity. This strategic focus allows the company to concentrate resources on its flagship Alkali Flats project.
On the corporate front, Fulcrum has granted 4 million performance rights to Chief Operating Officer Scott Keenan, aligning executive incentives with project milestones such as defining JORC-compliant resources and completing a positive scoping study. The company reported a quarterly expenditure of $988,000, primarily on exploration activities, maintaining a healthy cash position of $5.176 million at quarter-end.
Looking Ahead
Fulcrum Lithium’s recent developments position it well within the competitive lithium exploration sector, particularly given the growing demand for lithium in battery technologies. The next phases of drilling and metallurgical testing will be critical in defining the project's economic potential and advancing towards resource certification.
Bottom Line?
Fulcrum’s Alkali Flats discovery sets the stage for a defining resource update, with market eyes on upcoming drilling and metallurgical results.
Questions in the middle?
- What are the expected timelines and targets for the Phase 3 drilling campaign?
- How will metallurgical test results impact the project's feasibility and processing methods?
- What are the implications of non-renewal of Fairway and Summit claims on Fulcrum’s overall growth strategy?
