FUL: Strategic Expansion and Positive Metallurgy at Alkali Flats
Original announcement by asx on
- Company
- Fulcrum Lithium Ltd
- Ticker
- FUL
- Exchange
- ASX
- Region
- Nevada, USA
- Primary commodity
- Lithium
- Secondary commodities
- None reported
- Document categories
- Resource update, Metallurgy
- Extracted
- 2026-10-01 00:15:06 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Fulcrum Lithium Ltd announced positive metallurgical results for its Alkali Flats project, demonstrating 64% to 79% lithium recovery from an acid-free calcination roast and water leach process, with up to 68% recovery within 24 hours. This method significantly reduced impurities and reagent usage compared to previous sulfuric acid extractions, offering flexibility for processing options. Concurrently, the company expanded its Alkali Flats claims by staking 41 new lode claims to capture potential extensions of the higher-grade lithium trend and support future drilling aimed at resource growth.
Reasoning: The announcement details positive metallurgical test results for lithium extraction, including high recoveries from an acid-free process with low impurities and low reagent usage, alongside a strategic expansion of claims to target higher-grade resource extensions.
Positive factors
- High lithium recovery (79%) from acid-free process
- Significant reduction in impurities compared to sulfuric acid leach
- Relatively low reagent usage with potential for further optimization
- Strategic expansion of claims to target higher-grade resource extensions
- Recovery improvement from previous roast and water leach results
Negative factors
- Recoveries are lower than sulfuric acid leach tests (93-96%)
- Metallurgical tests are at scoping/bench scale only
- Testing limited to composite samples, not explicitly covering full domain variability
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 11
Classification and evidence
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: The metallurgical test achieved 79% lithium recovery, which is a strong result for a leach process.
Evidence · text
“79% lithium recovery from calcination roast and 8-day water column leach tests.”
Recovery Improvingpositive
Recovery improved versus a like-for-like prior test program on the same domain and route.
Why it applies: The current roast and water leach results show an improvement from 66% to 79% recovery compared to previous tests.
Evidence · text
“Improvement of roast and water leaching previous results from 66% to 79% recovery.”
Bench Scale Onlynegative
Only preliminary bench tests completed — no locked-cycle or pilot work.
Why it applies: The metallurgical work is described as a 'scoping test' and 'mini-column tests', indicating bench-scale work.
Evidence · text
“second successful heap leach scoping test”
Single Domain Onlynegative
Testing limited to one composite or domain — representativeness not established.
Why it applies: Testing was conducted on 3 composite samples from RC drill holes, but there is no explicit mention of testing across multiple distinct ore domains (e.g., oxide, transition, fresh).
Evidence · text
“3 composite samples were selected for further testing”
Heap Leach Routeneutral
Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
Why it applies: The metallurgical test is described as a 'heap leach scoping test'.
Evidence · text
“second early heap leach feasibility test”
Acid-Free Processpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The extraction process used water and calcination roast, explicitly stating 'no use of acid during the extraction process'.
Evidence · text
“no use of acid during the extraction process”
Low Impuritiespositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The leachate showed 'significantly lower levels of impurities' compared to sulfuric acid extractions, with over 99% reductions in several elements.
Evidence · text
“Significantly lower levels of impurities in the leachate compared with sulfuric acid extractions.”
Low Reagent Usagepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The report notes 'relatively low reagent usage with the lowest roast blend ratio achieving the highest recoveries'.
Evidence · text
“Relatively low reagent usage with the lowest roast blend ratio achieving the highest recoveries”
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
Why it applies: The document refers to the 'maiden resource of 10.7Mt LCE' announced on August 4, 2026.
Evidence · text
“Following our maiden resource of 10.7Mt LCE”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The MRE is stated to be compliant with the 'JORC Code, 2012 Edition'.
Evidence · text
“JORC Code, 2012 Edition – Table 1”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The MRE was prepared by Mrs Claudia Elena Olvera Prado (MAusIMM) and Mr Bill Fleshman (FAusIMM).
Evidence · text
“prepared Mrs Claudia Elena Olvera Prado (MAusIMM) and Mr Bill Fleshman (FAusIMM)”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The maiden MRE includes a significant Inferred component of 2,177 Mt.
Evidence · table
“2,177”
Context: Inferred
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The maiden MRE is reported at a '400ppm Li cut-off grade' and a higher-grade portion at '700ppm Li cut-off'.
Evidence · text
“Alkali Flats Maiden Mineral Resource Estimate at 400ppm Li cut-off grade”
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: 2 distinct composites were tested
Extracted facts
Stored fact records: 11. Some facts used in scoring do not have a stored record.
Resource Estimates (9)
measuredAlkali Flats · lithiumTonnes: 715000000Grade: 604Grade Unit: ppmContained Metal: 2.3Contained Unit: mtHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Alkali Flats
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- FUL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Claudia Elena Olvera Prado, Bill Fleshman
- Resource group id
- resource:7e47bf80a15c6f39c663
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 715000000
- Grade
- 604
- Grade Unit
- ppm
- Contained Metal
- 2.3
- Contained Unit
- mt
- Cutoff Grade
- 400
- Cutoff Unit
- ppm Li
Prior Estimate
- Resource Date
- 2026-08-04
Metal Equivalent
- Metal Eq. Grade
- 3212
- Metal Eq. Unit
- ppm LCE
- Assumptions Disclosed
- Yes
Location
- Easting
- 469342
- Northing
- 4187705
- CRS
- UTM NAD 83, Zone 11
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-04T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This Measured resource for LCE, part of the maiden MRE, provides a high-confidence base for the project, though it is a restatement of prior information.
Positive factors
- High confidence Measured category
- JORC compliant
- QP/CP signed
- Metal equivalent assumptions disclosed
Negative factors
- Historical estimate, not a new update
Evidence · table
“604”
Context: 715
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedAlkali Flats · lithiumTonnes: 677000000Grade: 564Grade Unit: ppmContained Metal: 2.03Contained Unit: mtHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Alkali Flats
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- FUL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Claudia Elena Olvera Prado, Bill Fleshman
- Resource group id
- resource:31fd9f1f19d4eb835fe0
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 677000000
- Grade
- 564
- Grade Unit
- ppm
- Contained Metal
- 2.03
- Contained Unit
- mt
- Cutoff Grade
- 400
- Cutoff Unit
- ppm Li
Prior Estimate
- Resource Date
- 2026-08-04
Metal Equivalent
- Metal Eq. Grade
- 3003
- Metal Eq. Unit
- ppm LCE
- Assumptions Disclosed
- Yes
Location
- Easting
- 469342
- Northing
- 4187705
- CRS
- UTM NAD 83, Zone 11
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-04T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This Indicated resource for LCE, part of the maiden MRE, provides a good level of confidence for the project, though it is a restatement of prior information.
Positive factors
- Indicated category provides reasonable confidence
- JORC compliant
- QP/CP signed
- Metal equivalent assumptions disclosed
Negative factors
- Historical estimate, not a new update
Evidence · table
“564”
Context: 677
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedAlkali Flats · lithiumTonnes: 1392000000Grade: 585Grade Unit: ppmContained Metal: 4.33Contained Unit: mtHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Alkali Flats
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- FUL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Claudia Elena Olvera Prado, Bill Fleshman
- Resource group id
- resource:5b4c96e1392aeac69ba5
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1392000000
- Grade
- 585
- Grade Unit
- ppm
- Contained Metal
- 4.33
- Contained Unit
- mt
- Cutoff Grade
- 400
- Cutoff Unit
- ppm Li
Prior Estimate
- Resource Date
- 2026-08-04
Metal Equivalent
- Metal Eq. Grade
- 3114
- Metal Eq. Unit
- ppm LCE
- Assumptions Disclosed
- Yes
Location
- Easting
- 469342
- Northing
- 4187705
- CRS
- UTM NAD 83, Zone 11
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-04T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This combined Measured + Indicated resource for LCE, part of the maiden MRE, provides a good level of confidence for the project, though it is a restatement of prior information.
Positive factors
- Combined Measured + Indicated category provides good confidence
- JORC compliant
- QP/CP signed
- Metal equivalent assumptions disclosed
Negative factors
- Historical estimate, not a new update
Evidence · table
“585”
Context: 1,392
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredAlkali Flats · lithiumTonnes: 2177000000Grade: 549Grade Unit: ppmContained Metal: 6.37Contained Unit: mtHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Alkali Flats
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- FUL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Claudia Elena Olvera Prado, Bill Fleshman
- Resource group id
- resource:e3df8ee656979e335864
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 2177000000
- Grade
- 549
- Grade Unit
- ppm
- Contained Metal
- 6.37
- Contained Unit
- mt
- Cutoff Grade
- 400
- Cutoff Unit
- ppm Li
Prior Estimate
- Resource Date
- 2026-08-04
Metal Equivalent
- Metal Eq. Grade
- 2925
- Metal Eq. Unit
- ppm LCE
- Assumptions Disclosed
- Yes
Location
- Easting
- 469342
- Northing
- 4187705
- CRS
- UTM NAD 83, Zone 11
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-04T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This Inferred resource for LCE, part of the maiden MRE, is speculative and has a lower level of geological confidence, though it is a restatement of prior information.
Positive factors
- JORC compliant
- QP/CP signed
- Metal equivalent assumptions disclosed
Negative factors
- Inferred category is speculative
- Historical estimate, not a new update
Evidence · table
“549”
Context: 2,177
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredAlkali Flats · lithiumTonnes: 3570000000Grade: 563Grade Unit: ppmContained Metal: 10.7Contained Unit: mtHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Alkali Flats
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- FUL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Claudia Elena Olvera Prado, Bill Fleshman
- Resource group id
- resource:eec602c10c5826b796a8
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 3570000000
- Grade
- 563
- Grade Unit
- ppm
- Contained Metal
- 10.7
- Contained Unit
- mt
- Cutoff Grade
- 400
- Cutoff Unit
- ppm Li
Prior Estimate
- Resource Date
- 2026-08-04
Metal Equivalent
- Metal Eq. Grade
- 2997
- Metal Eq. Unit
- ppm LCE
- Assumptions Disclosed
- Yes
Location
- Easting
- 469342
- Northing
- 4187705
- CRS
- UTM NAD 83, Zone 11
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-04T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total resource for LCE, part of the maiden MRE, represents a large contained metal, but includes a substantial inferred component, and is a restatement of prior information.
Positive factors
- Large total contained LCE
- JORC compliant
- QP/CP signed
- Metal equivalent assumptions disclosed
Negative factors
- Significant inferred component
- Historical estimate, not a new update
Evidence · table
“563”
Context: 3,570
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
measuredAlkali Flats · lithiumTonnes: 171000000Grade: 4143Grade Unit: ppmContained Metal: 0.71Contained Unit: mtHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Alkali Flats
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- FUL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Claudia Elena Olvera Prado, Bill Fleshman
- Resource group id
- resource:a62f1f0fa560b8ff7638
Resource Data
- Category
- measured
- Tonnes
- 171000000
- Grade
- 4143
- Grade Unit
- ppm
- Contained Metal
- 0.71
- Contained Unit
- mt
- Cutoff Grade
- 700
- Cutoff Unit
- ppm Li
Prior Estimate
- Resource Date
- 2026-08-04
Metal Equivalent
- Metal Eq. Grade
- 4143
- Metal Eq. Unit
- ppm LCE
- Assumptions Disclosed
- Yes
Location
- Easting
- 469342
- Northing
- 4187705
- CRS
- UTM NAD 83, Zone 11
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-04T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This Measured resource for LCE at a 700ppm cutoff highlights a higher-grade portion of the resource, providing a high-confidence base, though it is a restatement of prior information.
Positive factors
- Higher grade LCE at 700ppm cutoff
- High confidence Measured category
- JORC compliant
- QP/CP signed
- Metal equivalent assumptions disclosed
Negative factors
- Historical estimate, not a new update
Evidence · table
“4,143”
Context: 0.171
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedAlkali Flats · lithiumTonnes: 116000000Grade: 4158Grade Unit: ppmContained Metal: 0.48Contained Unit: mtHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Alkali Flats
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- FUL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Claudia Elena Olvera Prado, Bill Fleshman
- Resource group id
- resource:f57a4f183f9b73160e9c
Resource Data
- Category
- indicated
- Tonnes
- 116000000
- Grade
- 4158
- Grade Unit
- ppm
- Contained Metal
- 0.48
- Contained Unit
- mt
- Cutoff Grade
- 700
- Cutoff Unit
- ppm Li
Prior Estimate
- Resource Date
- 2026-08-04
Metal Equivalent
- Metal Eq. Grade
- 4158
- Metal Eq. Unit
- ppm LCE
- Assumptions Disclosed
- Yes
Location
- Easting
- 469342
- Northing
- 4187705
- CRS
- UTM NAD 83, Zone 11
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-04T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This Indicated resource for LCE at a 700ppm cutoff highlights a higher-grade portion of the resource, providing a good level of confidence, though it is a restatement of prior information.
Positive factors
- Higher grade LCE at 700ppm cutoff
- Indicated category provides reasonable confidence
- JORC compliant
- QP/CP signed
- Metal equivalent assumptions disclosed
Negative factors
- Historical estimate, not a new update
Evidence · table
“4,158”
Context: 0.116
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredAlkali Flats · lithiumTonnes: 177000000Grade: 4086Grade Unit: ppmContained Metal: 0.72Contained Unit: mtHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Alkali Flats
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- FUL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Claudia Elena Olvera Prado, Bill Fleshman
- Resource group id
- resource:fd81f7fe0833acf531b0
Resource Data
- Category
- inferred
- Tonnes
- 177000000
- Grade
- 4086
- Grade Unit
- ppm
- Contained Metal
- 0.72
- Contained Unit
- mt
- Cutoff Grade
- 700
- Cutoff Unit
- ppm Li
Prior Estimate
- Resource Date
- 2026-08-04
Metal Equivalent
- Metal Eq. Grade
- 4086
- Metal Eq. Unit
- ppm LCE
- Assumptions Disclosed
- Yes
Location
- Easting
- 469342
- Northing
- 4187705
- CRS
- UTM NAD 83, Zone 11
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-04T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This Inferred resource for LCE at a 700ppm cutoff highlights a higher-grade portion of the resource, but is speculative and has a lower level of geological confidence, though it is a restatement of prior information.
Positive factors
- Higher grade LCE at 700ppm cutoff
- JORC compliant
- QP/CP signed
- Metal equivalent assumptions disclosed
Negative factors
- Inferred category is speculative
- Historical estimate, not a new update
Evidence · table
“4,086”
Context: 0.177
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredAlkali Flats · lithiumTonnes: 464000000Grade: 4125Grade Unit: ppmContained Metal: 1.92Contained Unit: mtHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Alkali Flats
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- FUL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Claudia Elena Olvera Prado, Bill Fleshman
- Resource group id
- resource:a02d4a9705c862291a9d
Resource Data
- Category
- inferred
- Tonnes
- 464000000
- Grade
- 4125
- Grade Unit
- ppm
- Contained Metal
- 1.92
- Contained Unit
- mt
- Cutoff Grade
- 700
- Cutoff Unit
- ppm Li
Prior Estimate
- Resource Date
- 2026-08-04
Metal Equivalent
- Metal Eq. Grade
- 4125
- Metal Eq. Unit
- ppm LCE
- Assumptions Disclosed
- Yes
Location
- Easting
- 469342
- Northing
- 4187705
- CRS
- UTM NAD 83, Zone 11
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-08-04T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total resource for LCE at a 700ppm cutoff highlights a higher-grade portion of the resource, but includes a substantial inferred component, and is a restatement of prior information.
Positive factors
- Higher grade LCE at 700ppm cutoff
- JORC compliant
- QP/CP signed
- Metal equivalent assumptions disclosed
Negative factors
- Significant inferred component
- Historical estimate, not a new update
Evidence · table
“4,125”
Context: 0.464
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Metallurgical Results (2)
column leachAlkali Flats · lithiumRecovery: 79 %Head Grade: 674Head Grade Unit: ppmView all detailsHide details
Identity
- Project
- Alkali Flats
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- FUL
Test Work
- Program Status
- scoping
- Test Type
- column leach
- Processing Route
- calcination roast and water column leach
- Sample
- 3 composite samples from RC drill holes AF2-2, AF2-5, AF2-10
- Leach Time
- 192 hours
Recovery
- Recovery
- 79 %
- Recovery Basis
- actual_test
- Head Grade
- 674
- Head Grade Unit
- ppm
Reagents
- Acid
- 0 kg/t
- Reagent Notes
- 5:1:1 blend ratio of sample, gypsum, limestone using water; relatively low reagent usage; no use of acid during the extraction process
Lab
- Laboratory
- Kappes, Cassiday and Associates (KCA)
Location
- Easting
- 469342
- Northing
- 4187705
- CRS
- UTM NAD 83, Zone 11
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The 79% lithium recovery from the calcination roast and water leach mini-column tests is a strong result, demonstrating an acid-free process with low impurities and improved recovery over previous similar tests.
Positive factors
- High lithium recovery for leach process
- Acid-free process with low impurities
- Low reagent usage
- Recovery improvement from prior testwork
Negative factors
- Bench scale only
- Lower recovery than sulfuric acid leach
Evidence · text
“64% to 79% lithium recovery from calcination roast and 8-day water column leach tests. ... Improvement of roast and water leaching previous results from 66% to 79% recovery.”
Tags used in scoring
Heap Leach Routeneutral
Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
Why it applies: processing_route matches the heap_leach signal
agitated beakerAlkali Flats · lithiumRecovery: 66 %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Alkali Flats
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada, USA
- Ticker
- FUL
Test Work
- Program Status
- scoping
- Test Type
- agitated beaker
- Processing Route
- roast and water leach
- Sample
- previous roast and water leach test
Recovery
- Recovery
- 66 %
- Recovery Basis
- actual_test
Reagents
- Acid
- 0 kg/t
- Reagent Notes
- previous roast and water leach test in an agitated beaker
Lab
- Laboratory
- Kappes, Cassiday and Associates (KCA)
Location
- Easting
- 469342
- Northing
- 4187705
- CRS
- UTM NAD 83, Zone 11
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-05-19T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical 66% lithium recovery from a previous roast and water leach test is superseded by the current 79% recovery, indicating progress in metallurgical optimization.
Negative factors
- Historical result, superseded by current testwork
- Lower recovery than current testwork
Evidence · text
“improvement from the roast and water leach previously performed in an agitated beaker, up from 66% to 79% recovery.”
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.