- Future Metals (FME) confirms high-grade nickel, copper and platinum group elements (PGE) at the Panton project in northeast Western Australia
- Through a detailed review, the company found new exploration targets outside the 6.9 million ounce mineral resource estimate (MRE) area which is solely within the Main Zone
- The review indicates the Lower Zone may be highly prospective for broad sulphide-rich mineralisation, highlighting further exploration potential within Panton
- Future is planning follow-up ground based electromagnetic and gravity survey work to better understand the targets
- FME shares were up 1.92 per cent to trade at 13.3 cents each at 1:28 pm AEST
Future Metals (FME) has confirmed high-grade nickel, copper and platinum group elements (PGE) at the Panton project in northeast Western Australia.
The company found new exploration targets outside the 6.9 million ounce palladium equivalent mineral resource estimate (MRE) following a detailed review of the project’s geological data.
According to the review, the Lower Zone is considered to be highly prospective for large accumulations of sulphide-rich mineralisation.
Results from the Lower Zone include 19 metres at 0.51 grams per tonne (g/t) PGM 3E and 0.49 per cent nickel, 0.28 per cent copper and 0.022 per cent cobalt from 88 metres.
While the Main Zone, which is the only zone the Panton MRE relates to, is known for its continuity, the Lower Zone is considered to be ‘contact-style’ mineralisation. Contact-style deposits often show more short-range variation in mineralisation thickness and grade.
“The prospectivity review has highlighted the exciting exploration potential at Panton, with possible high-grade zones of base metal and gold sulphides outside of the Main Zone associated with one or multiple feeder (or conduit) zones to the intrusion,” Managing Director and CEO Jardee Kininmonth said.
“To date exploration at Panton beyond the PGM’s in the chromite reefs has been limited and this review shows that there is more at play at Panton than our already significant PGM deposit.”
Future is now planning a follow-up ground based electromagnetic and gravity survey to provide better knowledge of the targets.
On the market, FME shares were up 1.92 per cent to trade at 13.3 cents each at 1:28 pm AEST.