- Future Metals (FME) reports further encouraging metallurgical test results from its Panton project in northern WA, with grades peaking at 5.4 grams per tonne platinum group metals
- Eight holes were drilled to provide metallurgical samples for flotation optimisation and variability test work, which is under way on both high-grade and lower-grade bulk samples
- Assays are pending for a further 52 exploration drill holes, with initial results expected in the current quarter
- Once received, all new assay data will be incorporated into an updated mineral resource estimate for the Panton project
- FME shares are down 7.89 per cent
Future Metals (FME) has received the remaining results from metallurgical drilling at its Panton project in northern Western Australia with grades peaking at 5.4 grams per tonne (g/t) platinum group metals (PGM).
Eight holes were drilled to provide metallurgical samples for flotation optimisation and variability test work, which is under way on both high-grade and lower-grade bulk samples.
Results from the first five holes were announced at the end of October, with a best metallurgical drill hit of 20.8 metres grading 5.34 g/t PGM from 89.3 metres including 10.1 metres at 9 g/t PGM from 92.5 metres.
The pick of the intersection from the final three holes were 8.4 metres at 4.89 g/t PGM from 32.6 metres and 12.6 metres at 2.58 g/t PGM from 54.4 metres including 4.6 metres at 5.42 g/t PGM.
The metallurgical drill holes form part of Future’s 6,000 metre diamond drilling program.
Assays were pending for a further 52 exploration drill holes and initial results were expected in the current quarter.
The company said the Panton drilling program was also designed to test for continuity and depth extensions to the existing mineral resource estimate (MRE), the potential for defining a larger and shallower mineralised zone at lower cut-off grades and for parallel zones of highly anomalous PGM at surface.
Once received, all new assay data will be incorporated into a new MRE for the Panton project.
The current JORC-compliant MRE for Panton stands at 14.32 million tonnes at 4.89 g/t PGM and 0.31 g/t gold for 2.4 million ounces of contained PGM and gold.
FME shares closed the day’s trading session 7.89 per cent lower at 17.5 cents.