Fulcrum Metals secures £6m funding after 78% gold recovery at Teck-Hughes

Fulcrum Metals said it is moving from technical validation to execution after Phase 3 testing at its Teck-Hughes project achieved 78% gold recovery, with strong recoveries of other metals. Results from a 159-hole auger program are strengthening the basis for a compliant resource estimate, while a signed agreement sets a framework for a reusable pilot facility with capacity of up to 2.4 tonnes per day. The company identifies Teck-Hughes and nearby Sylvanite, together representing an estimated 10.7 million tonnes of historical tailings, as initial projects for a broader mine-waste recovery platform. Fulcrum secured a £6 million Yorkville funding package and has a separate £2.5 million at-the-market facility; it says current budgets are expected to fund the pilot and initial Teck-Hughes work without drawing the second Yorkville loan tranche. A proposed US$20 million Chancery royalty financing remains contingent on successful pilot testing, while the company has also ordered long-lead pilot equipment and reported late-stage discussions over a potential Ontario site.