Fulcrum Lithium Gains Approval to Drill Up to 11 Holes at Dry Canyon Nevada
Key Takeaways
- The BLM has approved up to 11 holes for Fulcrum Lithium's maiden Dry Canyon drill program, removing the key permitting hurdle.
- Drilling will test shallow claystone targets interpreted at over 500m thick, beneath surface samples that peaked at 1,219ppm lithium.
- Of 62 surface samples, 31 exceeded 300ppm and 6 exceeded 1,000ppm, giving the targets a credible geochemical footing.
- Drilling is targeted for Q4 2026, but a rig is not yet secured and timing depends on availability.
- The announcement does not disclose drilling costs, funding or assay timing, so the thickness interpretation stays unproven until results arrive.
Dry Canyon maiden drill program approved with up to 11 holes permitted
The USA Bureau of Land Management (BLM) has approved the maiden drill program at the wholly owned Dry Canyon project in Lander County, Nevada, Fulcrum Lithium said in its announcement dated 13 October 2026. For a lithium explorer, a permit is the gate between desk-based work and the drill bit.
Here are the key facts from the announcement:
- Up to 11 holes permitted
- The program is designed to test shallow claystone targets over 500m thick, extending beneath surface samples of up to 1,219ppm lithium (ppm means parts per million)
- Drill rig sourcing and preparations are underway, with a target of Q4 2026, subject to appropriate drill rig availability
Approval moves Dry Canyon from exploration planning towards physical testing. Until holes are drilled, the thick claystone remains a geophysical interpretation rather than a confirmed result.
Managing Director Scott Keenan said the project has been matured over the past year:
Scott Keenan, Managing Director
“Dry Canyon is a very exciting prospect that Fulcrum has matured towards this high-impact maiden drill program over the last 12 months…”
He added that the company has “…applied the learnings and techniques from our successful Alkali Flats exploration and appraisal programs…” and sees “…many encouraging similarities in the data and basin geology.”
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From surface samples to drill targets
The drill targets did not appear overnight. They come from a sequence of surface sampling and geophysical work.
Surface sampling confirms high-grade potential
Following a state-wide review of lithium claystone opportunities, Dry Canyon emerged as the highest potential target. Fulcrum’s initial surface sampling program was completed in November 2025.
| Metric | Result |
|---|---|
| Samples collected | 62 |
| Samples above 300ppm Li | 31 |
| Samples above 1,000ppm Li | 6 |
| Peak result | 1,219ppm Li |
Roughly half of the samples returned above 300ppm, which the company says confirms the potential of the area.
Geophysics defines thick, shallow targets
In April 2026, a 13km Controlled-Source Audio-Frequency Magnetotelluric (CSAMT) survey was completed, acquiring high-quality 2D data. The claystone unit containing the high-grade surface samples is interpreted to potentially extend beyond 500m at the thickest parts and more than 200m across the whole project area.
Overburden, the material sitting above the target rock, is generally thin (<25m) across the majority of the project area. Thin cover is what makes a target shallow and, in principle, easier to reach.
These are geophysical interpretations, not drilling results. The maiden holes are designed to test them.
What CSAMT is and why it matters
CSAMT is a commonly used geophysical technique for identifying highly electrically conductive rocks, such as claystones. It works by transmitting harmless electrical signals into the ground and recording the response at receiver stations.
For you as an investor, the relevance is in how drilling gets targeted:
- The survey provided key structural trends and potential lithology identification
- Interpretation of the data forms the basis of the planned drilling targets
- The maiden drill program will test and calibrate the geophysical responses
Calibration matters because a successful match between the geophysics and the drill core would give the company a stronger basis for reading the rest of the basin’s data.
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Basin position and what comes next
Commanding basin position
The Dry Canyon project comprises 536 unpatented lode claims covering approximately 45km². It sits about 75km south of Battle Mountain, a major mining services hub.
Fulcrum states that its large claims holding in the Dry Canyon Basin secures a commanding basin position for capturing large-scale potential in the event of maiden drilling success. That is a conditional benefit: it depends on what the drill bit finds.
Next steps
The announcement points to a clear sequence:
- Secure a drill rig, with sourcing currently in process
- Commence drilling, targeted for Q4 2026 and subject to appropriate drill rig availability
- Test and calibrate the geophysical responses, providing the first drilling of these targets in the basin
Keenan described Dry Canyon as a key part of Fulcrum’s mission of discovering and developing large resources in the strategic Nevada lithium claystone play. He said the project supports the future of secure, domestic US critical minerals and complements the company’s resource growth strategy at Alkali Flats.
The announcement does not disclose drilling costs, funding arrangements or timing for assay results, so those remain open questions as the program moves forward.
Ready to Learn More About Fulcrum Lithium’s Dry Canyon Project?
BLM approval for up to 11 holes moves Dry Canyon towards its maiden test of shallow claystone targets over 500m thick. Surface samples have returned up to 1,219ppm lithium across a 45km² claims package in Nevada.
Explore the Fulcrum Lithium company profile on Discovery Alert for further insight into the project and the company’s Nevada lithium strategy. Drilling is targeted for Q4 2026, so now is the time to understand what could come next.