Fulcrum Lithium Accelerates Nevada Projects Amid Lithium Price Surge
Fulcrum Lithium has expanded its Alkali Flats lithium project and advanced metallurgical testing, while securing permits for a major Phase 3 drilling campaign, all against a backdrop of soaring lithium carbonate prices.
- Alkali Flats project expanded by 281 claims to 66km²
- 25km geophysical survey extends lithium claystone target to 42km²
- Metallurgical tests show up to 91% lithium recovery
- Phase 3 drilling permit approved for over 30 holes
- Dry Canyon project staked after high-grade surface sampling
Project Expansion and Exploration Progress
Fulcrum Lithium has made significant strides in its Nevada lithium ventures during the December 2025 quarter, notably expanding its Alkali Flats project by staking an additional 281 claims. This expansion brings the total project area to approximately 66 square kilometres, positioning Fulcrum closer to established lithium operations such as the Silver Peak mine and projects by American Battery Technology and American Lithium Corporation.
Complementing this land acquisition, the company completed a 25-kilometre Controlled-Source Audio-Frequency Magnetotelluric (CSAMT) geophysical survey. This survey has effectively expanded the known lithium claystone target area from 9 to 42 square kilometres, revealing promising structural and lithological features that suggest the deposit remains open in multiple directions.
Metallurgical Advances and Drilling Plans
Metallurgical testing on samples from the Phase 2 drilling campaign has yielded encouraging results, with lithium recoveries reaching up to 91% after a four-hour sulfuric acid leach at 60 degrees Celsius. These findings indicate the potential for efficient lithium extraction using relatively low-cost methods, a critical factor for project economics.
Following these positive outcomes, Fulcrum has secured permits from the US Bureau of Land Management for a Phase 3 drilling campaign comprising over 30 reverse circulation and core holes. This program aims to increase drilling density fivefold, reducing hole spacing to 600 metres in the project's core and providing the data necessary for a maiden Mineral Resource Estimate.
Dry Canyon Project and Market Context
In parallel, Fulcrum staked the Dry Canyon project in Lander County after surface sampling returned high-grade lithium assays, including values up to 1,219 parts per million. This new project adds to the company's growing footprint in Nevada's lithium belt and will be explored alongside Alkali Flats.
The timing of these developments is bolstered by a significant surge in lithium carbonate prices, which have increased approximately 165% over the past seven months to around US$21,400 per tonne. This price momentum enhances the commercial prospects of Fulcrum's projects and underscores the strategic importance of lithium in the evolving energy landscape.
Corporate and Financial Overview
During the quarter, Fulcrum issued 4 million performance rights to its Chief Operating Officer, aligning executive incentives with project milestones such as resource definition and scoping studies. The company reported total expenditure of $920,000, primarily directed towards exploration activities and corporate costs, with no mining production expenses incurred.
Cash reserves remain solid at $4.256 million at quarter-end, providing a runway of over four quarters at current expenditure levels. This financial position supports ongoing exploration and development efforts as Fulcrum advances its Nevada lithium assets.
Bottom Line?
Fulcrum Lithium’s aggressive exploration and positive metallurgical results set the stage for a pivotal Phase 3 drilling campaign amid a buoyant lithium market.
Questions in the middle?
- How will Phase 3 drilling results impact Fulcrum’s resource estimates and project valuation?
- What are the timelines and capital requirements for advancing Alkali Flats towards production?
- How might sustained lithium price volatility affect project economics and funding strategies?
