Lithium Mineralisation at Alkali Flats Remains Open, Raising Development Questions

A Major Lithium Discovery in Nevada

Fulcrum Lithium Ltd (ASX – FUL) has announced a significant breakthrough at its Alkali Flats project in Esmeralda County, Nevada, with Phase 2 drilling confirming widespread lithium mineralisation in the Siebert Formation claystones. The company’s latest results reveal thick zones of lithium-bearing claystones exceeding 300ppm lithium, with some intervals reaching grades as high as 938ppm over 6.1 metres.

The drilling campaign, comprising 10 reverse circulation holes averaging 166 metres in depth, was designed to test the geological model predicting thicker and higher-grade lithium mineralisation on the project’s western and northern margins. The results have validated this model, identifying mineralised zones up to 112 metres thick and extending laterally over at least 9 square kilometres.

Implications for Resource Development

These findings mark a pivotal milestone for Fulcrum Lithium, which listed on the ASX less than a year ago. The discovery of extensive lithium mineralisation with both significant thickness and grade supports the company’s transition from exploration into the appraisal phase. The project’s mineralisation remains open in all directions and at depth, indicating substantial potential for resource expansion.

Fulcrum has already commenced initial metallurgical testing and is progressing permitting for a Phase 3 drilling program. This next phase will include core drilling to provide detailed metallurgical data, infill drilling to increase resource confidence, and step-out holes to test extensions of the known mineralisation. The company aims to deliver a maiden JORC-compliant resource estimate by the first quarter of 2026.

Strategic Location and Competitive Context

Alkali Flats is strategically located near established lithium projects such as Tonopah Flats and TLC, and just 10 kilometres east of Albemarle Corporation’s Silver Peak lithium mine; the only operating lithium mine in the United States. This proximity to proven lithium-producing assets within a mining-friendly jurisdiction enhances the project’s attractiveness and potential for development.

Fulcrum’s decision to renew maintenance fees on 512 lode claims covering 43 square kilometres, focusing on the discovery area, reflects a disciplined approach to managing exploration costs while concentrating on the most prospective zones.

Looking Ahead

With robust drilling results underpinning its geological model, Fulcrum Lithium is well positioned to advance Alkali Flats toward resource definition. The company’s methodical approach; combining further drilling, metallurgical studies, and permitting; will be critical to unlocking the project’s full value and contributing to the growing domestic lithium supply chain in the United States.