Fulcrum Lithium (ASX:FUL) has reported a maiden mineral resource estimate (MRE) of 10.7 million tonnes (Mt) lithium carbonate equivalent (LCE) at its Alkali Flats Project in Nevada, US.
The company delivered the resource within 12 months of discovery, with the estimate totalling 3.57 billion tonnes (Bt) at 563 parts per million (ppm) lithium (Li), containing 2.01Mt Li.
The resource includes 715Mt at 604ppm Li measured and 677Mt at 564ppm Li indicated. Combined measured and indicated resources total 1.39Bt at 585ppm Li for 4.33Mt LCE. Inferred resources comprise 2.18Bt at 549ppm Li, containing 6.37Mt LCE.
COO Scott Keenan says the result establishes Alkali Flats as a potential ‘significant’ domestic lithium source for the US.
“The Alkali Flats maiden [MRE] is an outstanding result for Fulcrum. To deliver such a large-scale resource, that the company set out to deliver from IPO, is a credit to the team that identified the potential of the project and efficiently delivered the exploration and appraisal programs over the last 18 months,” Keenan says.
The resource is hosted within two laterally continuous lithium-bearing clay horizons in the Siebert Formation, spanning 48km2, with mineralisation up to 147m thick. Mineralisation begins from 15m below surface at the shallow south-eastern extent.
Fulcrum completed 44 reverse circulation drillholes totalling 6,714m across phase two and phase three programs. Metallurgical testwork achieved lithium extractions ranging 66–91% after four-hour sulphuric acid leaching at 60°C.
Fulcrum owns 100% of the 802 lode claims covering approximately 66km2 in Esmeralda County, 15km south of Tonopah.
The company plans to focus on identifying low-cost processing options through multi-pathway metallurgical testwork programs. Resource upgrade opportunities exist targeting shallow, ‘higher-grade’ domains in the south-eastern deposit area.
Fulcrum Lithium is a Sydney‑based exploration company focused on lithium assets in Nevada.
Write to JC Villarba at Mining.com.au
Images: Fulcrum Lithium
