Fulcrum Lithium to Launch Two Drilling Programs in Nevada

About Fulcrum Lithium Limited

Fulcrum Lithium Ltd (ASX: FUL), listed on the ASX in November 2024 and headquartered in Australia, is a critical minerals exploration company with a focus on lithium-rich claystone deposits in the United States. Fulcrum holds approximately 230 km² of lithium claims in Nevada—America’s most prolific lithium belt—positioning the company as one of the largest landholders in the region. Its three core projects—Alkali Flats, Fairway, and Summit—are located near Albemarle’s Silver Peak lithium mine, the only lithium-producing operation in the US. Fulcrum’s shares are currently trading at $0.10 per share.

Alkali Flats: Targeting Improved Basin Geology

The second-phase drilling at Alkali Flats follows Fulcrum’s maiden campaign in January 2025, which successfully confirmed the presence of a lithium mineralisation system hosted in claystone. However, geological analysis indicated that the southeast section of the project area was less favourable due to thinner and less continuous claystone intervals.

New basin modelling—incorporating data from the initial drilling, detailed surface mapping, and US Geological Survey gravity datasets—has now redirected Fulcrum’s focus to the northern and western portions of the basin. These areas are expected to contain thicker and more lithium-enriched sequences of the Siebert Formation, the same host rock responsible for multiple large-scale lithium deposits in Nevada.

Surface assays in these target zones have returned values as high as 817 ppm lithium, reinforcing the project’s potential for resource growth.

Fairway: Maiden Drilling Campaign After Promising Surface Results

At the Fairway project, Fulcrum will launch its first drilling program following a successful surface sampling campaign in early 2025. Of 95 surface samples collected across Fulcrum’s three Nevada projects, the Fairway area produced the highest lithium assay to date—an impressive 1,084 ppm.

Mapping of hydrothermal features, sedimentary textures, and structural controls has revealed strong geological similarities to major lithium discoveries elsewhere in the Tonopah region. Fairway’s location on trend with several third-party exploration projects adds further credibility to its potential.

The upcoming drill campaign will test areas identified through Fulcrum’s basin analysis, focusing on confirming the vertical and lateral extent of lithium-bearing claystones in the Siebert Formation.

Strategic Importance and Geological Setting

Fulcrum’s exploration efforts are targeting a well-established geological model: lithium-enriched claystones formed in closed sedimentary basins with historical volcanic activity. This model is already proven in Nevada and underpins more than 60 million tonnes of lithium carbonate equivalent (LCE) resources held by other regional players.

The Alkali Flats and Fairway projects share these characteristics, including favourable host lithologies, proximity to geothermal activity, and minimal overburden. These conditions suggest potential for low-strip, scalable lithium deposits that could support future development.

Fulcrum’s projects are also strategically located near existing infrastructure, with road access, energy services, and lithium processing capacity in the surrounding region.

Outlook and Next Steps

Permitting for both drilling programs is currently underway, and Fulcrum expects to begin drilling in May 2025. The combined 20-hole reverse circulation program will allow the company to rapidly test its highest-priority lithium targets and guide follow-up drilling later in the year.

Investors will be watching closely for the first drilling results, as Fulcrum aims to define new lithium resources in the US and expand its presence in the growing North American battery supply chain. With a clear exploration roadmap and exposure to some of the most prospective lithium geology in the country, Fulcrum is well-positioned for a milestone year ahead.