study for its tailings projects with Test Design Implement Solutions LLC (TDI) for upscaling work at its Teck Hughes and Sylvanite tailings projects in Kirkland Lake, Ontario. TDI will be supported by Extrakt Process Solutions LLC (Extrakt) and Bechtel Energy Technologies & Solutions (Bechtel). The company commissioned TDI to undertake the study to identify the best way to advance from successful laboratory scale tests to a pilot-scale operation. The decision was taken after assessment of the Phase 3 optimisation metallurgical results announced by Fulcrum in early February 2026, which demonstrated materially improved gold recoveries, polymetallic potential and operational efficiencies using the Extrakt process. “The financial metrics for the Teck Hughes site include an estimated six and a half million tons and a gold grade of 0.66 grams per ton. The tailings process is now achieving a recovery rate of over 70% and so the improved metrics have significantly increased the NPV and IRR, with potential for multi- fold improvements, including the potential for NPVs in excess of $100 million and IRRs more than 50%.” Mee says that the process, endorsed by Bechtel Engineering, can handle 2 000 tons daily, significantly reducing project timelines. Fulcrum expects to be in production within 12-18 months. The company, valued at £10 million, aims to scale up quickly with partners like Extrakt Process Solutions. “Fulcrum’s goal is to monetise legacy assets and liabilities, support local communities, and accelerate the adoption of our technology. The plan is to commercialise the process through a pilot testing centre, generate value for both investors and communities by rehabilitating tailings sites. Growth will be driven aggressively, leveraging strategic partnerships and
Fulcrum Metals undertaking auger drilling at Teck Huges.
Environmental and scalability benefits According to Mee, the new process is a gamechanger for the industry as, apart from a potential to unlock critical minerals from tailings, it emphasises clean sites. The environmental benefits include reduced water usage and less impact on local communities. “Fulcrum’s technology creates a closed-loop system for tailings management, transitioning to dry stack storage while simultaneously recovering metals, water, and reagents. By keeping reagents and water within the process loop, we not only achieve significant cost savings but also
resources from leading firms such as Bechtel.” Fulcrum’s strategy goes beyond gold, targeting a broad spectrum of minerals and metals, including silver, copper, base metals, manganese, cobalt, and other precious metals—all in strong demand. Mee is particularly excited about expanding into critical minerals, such as lithium, cobalt, nickel, copper, and rare earth elements. These materials are essential for the transition to low-carbon energy, powering advanced technologies, and supporting national security. They are critical for manufacturing electric vehicles, wind turbines, and solar panels, with demand projected to increase sixfold by 2050.
drastically reduce our environmental footprint and the need for new raw material inputs. “The new technology can handle 2 000 tons a day, significantly reducing project timelines and allowing for the co-extraction of metals.” Mee explains that with the
Fulcrum’s goal is to monetise legacy assets and liabilities, support local communities, and accelerate the adoption of our technology.
use of the innovative technology, communities will be able to live alongside tailings recovery processes. “In Canada’s historic mining regions, mine waste was often deposited
across the landscape, with communities frequently located near tailings sites. Our technology enables the safe reprocessing of these tailings, extracting gold while neutralising
“What excites me most is the opportunity to access key critical minerals used in advanced technologies and defence, including gallium, titanium, cobalt, tungsten, tantalum, and graphite,” Mee says. “China currently dominates the processing of many of these specialist minerals, but we are taking a different approach. We’re not just acquiring deposits— we are developing ways to extract and process these minerals alongside gold. Gold processing provides a unique gateway to these other strategic minerals, which governments actively seek to support munitions and technology initiatives.”
harmful chemicals. This not only rehabilitates the site but also restores the land, making it safe and usable for local communities.”
Fulcrum Metals Fulcrum Metals is a company pioneering the use of innovative cyanide-free technologies to recover precious and critical metals from historic mine waste.
May 2026 | www.modernminingmagazine.co.za MODERN MINING 17
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