Fulcrum Metals has reported encouraging results from its Phase 2 conceptual study at the Teck Hughes Gold Tailings Project in Ontario. Conducted by Extrakt Process Solutions and TDI, the study assessed the economic feasibility of recovering gold from refractory tailings using Extrakt’s non-cyanide leaching technology.
The study estimates a pre-tax Net Present Value (NPV) of US$33 million at a 7.5% discount rate, with an Internal Rate of Return (IRR) of 21.4% over a nine-year operational life. Refining the leaching process could increase gold recovery from 59.4% to over 70%, potentially raising the NPV to US$75.5 million and the IRR to 37.7%, while reducing the payback period to under two years.
The study also highlighted opportunities for further optimization, including shorter leach times, improved reagent recycling, and recovery of additional minerals. Fulcrum now plans to refine these parameters and assess the broader resource potential.
CEO Ryan Mee stated that these results strengthen Fulcrum’s position in tailings reprocessing and open the door for further collaboration with Extrakt and its alliance partner, Bechtel. The company is now advancing discussions for an exclusive technology agreement covering historic gold mine waste in Timmins and Kirkland Lake.