Fulcrum Lithium

One of America's largest lithium resources.In the heart of the US lithium supply chain.

At Alkali Flats in Nevada, 10 km from Albemarle's Silver Peak, the only operating lithium mine in the United States, we have defined 10.7 million tonnes of lithium carbonate equivalent. Now we are working out the lowest cost path to development.

10.7Mt
Contained lithium carbonate equivalent, maiden JORC 2012 resource, 4 August 2026: 7th
Largest reported lithium resource in the United States: 40%
Already in the higher confidence Measured and Indicated categories: 10km
From Albemarle's Silver Peak, the only operating US lithium mine

01Done

Define the resource

Three rounds of drilling and a geophysical survey rapidly took Alkali Flats from surface samples to a maiden Mineral Resource.

10.7MtContained lithium carbonate equivalent, 4 August 2026
02Under way

Determine the best processing flow

Detailed metallurgical work to understand the unique characteristics and performance of our Alkali Flats claystones.

525mOf diamond drill core now in metallurgical test work
03Next

Design the development

We aim to be a leader in low cost development so to unlock Nevada's vast lithium resource potential.
04Growth

Grow the resource base

High impact exploration at Dry Canyon, with higher grade and basin scale potential, alongside resource upgrade and expansion plans for the Alkali Flats higher grade core.

The resource, at a glance

Simple, flat, continuous lithium-bearing clay, bigger than a city.

Most lithium mines chase narrow veins of hard rock. Alkali Flats is a single, gently lying blanket of soft clay close to the surface.

Schematic only, not to scale. Refer to the MRE announcement for accurate maps, deposit shape and scale.

Footprint

48 km²

The lithium sits in one continuous body across 48 square kilometres, a larger area than the City of Melbourne. It is still open in several directions.

Depth

15 m to 147 m

At its shallow south eastern end the clay starts about 15 m below surface, and it is up to 147 m thick. Because it lies almost flat and is soft, it can be dug from a shallow open pit rather than drilled and blasted.

Confidence

40% M&I

40% of the contained lithium is already in the two higher confidence categories, Measured and Indicated, in our maiden MRE.

Measured: 715 Mt at 604 ppm Li
Indicated: 677 Mt at 564 ppm Li
Inferred: 2.18 Bt at 549 ppm Li

3.57Bt
Of claystone: 563ppm
Average lithium grade: 10.7Mt
Contained LCE

Regional location map of Nevada, USA, showing the Alkali Flats lithium project in Esmeralda County and the Dry Canyon lithium project in Lander County

111km²

Of lode claims across our two Nevada lithium projects

2
Projects: 1,329
Lode claims: 100%
Fulcrum owned

Where we work

Two projects in Nevada, the leading lithium state in the USA.

Nevada is the leading lithium mining and exploration state in the United States, and Alkali Flats sits 10 km from the country's only operating lithium mine. Both of our projects target the claystone that hosts Nevada's lithium deposits, and we own 100 per cent of each of them.

01Esmeralda CountyAlkali FlatsOur flagship. 793 lode claims over 66 km², with a maiden resource defined on 49 drill holes.10.7Mtcontained LCE 02Lander CountyDry Canyon536 lode claims over 45 km². An exploration target only, with first drilling planned.1,219ppmbest surface sample

See both projects

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