Fulcrum Lithium Ltd (ASX: FUL) has announced the receipt of a crucial permit from the USA Bureau of Land Management (BLM) for its maiden drill program at the wholly owned Dry Canyon project in Lander County, Nevada, USA. Fulcrum Lithium Ltd is a lithium exploration company focused on discovering and developing large resources in Nevada, a leading state for lithium mining. The company’s strategy includes advancing projects like Dry Canyon, which spans approximately 45 square kilometres through 536 unpatented lode claims, to support secure, domestic US critical minerals, complementing its resource growth at Alkali Flats. This approval marks a significant step towards evaluating the project’s substantial lithium potential.
The approved permit allows for up to 11 drill holes, specifically designed to test shallow claystone targets. These targets are interpreted to be over 500 metres thick, extending beneath high-grade lithium claystones sampled at the surface, which previously recorded assays of up to 1,219 parts per million (ppm) lithium. An initial surface sampling program in November 2025 collected 62 samples, with 31 returning assays above 300 ppm Li and six above 1,000 ppm Li. Geophysical data previously gathered by Fulcrum provided the basis for identifying these potential targets and mapping the basin’s structure. Preparations for the drill program, including sourcing a suitable rig, are currently underway, with a target commencement in the fourth quarter of 2026.
Managing Director Scott Keenan expressed enthusiasm for the Dry Canyon prospect, noting its maturation over the past 12 months. Mr. Keenan highlighted the potential for a large-scale and high-grade lithium claystone deposit, drawing comparisons to the successful exploration techniques applied at the company’s Alkali Flats project. He reiterated that Fulcrum’s extensive claims holding in the Dry Canyon Basin provides a commanding position to capture large-scale potential should the maiden drilling prove successful, aligning with the company’s broader mission in the strategic Nevada lithium claystone play.
