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- Future Metals (FME) identifies a large sulphide zone at its Panton project in Western Australia
- Recent drilling aimed to determine if Panton could host a nickel-copper-platinum group element (PGE) sulphide orebody outside of the existing resource area
- FME says the results confirm the project hosts multiple styles of mineralisation outside of the high-grade PGE reef system hosting the existing resource
- Future Metals will now begin downhole electromagnetic work and follow-up drilling following the wet season
- FME shares close 1.27 per cent higher at eight cents per share on Thursday afternoon
Future Metals (FME) has identified a large sulphide zone at the Panton project in Western Australia.
The company received drill results from seven recently-completed holes that aimed to determine whether Panton could host a nickel-copper-platinum group element (PGE) sulphide orebody outside of the existing 6.9-million-ounce resource area and if there was a large accumulation of these sulphides.
The results showed a “distinct and broad” nickel-copper sulphide-enriched zone within the Panton intrusive.
Highlighted assays include 42 metres at 1.43 grams per tonne (g/t) PGE 3E (palladium, platinum and gold), 0.16 per cent nickel, 125 parts per million cobalt and 0.03 per cent copper from 235 metres.
Within this intersection was a higher-grade result of 1.7 metres at 8.4 g/t PGE 3E, 0.36 per cent nickel, 85 ppm cobalt and 0.03 per cent copper.
Future Metals said the results confirmed that Panton hosted multiple styles of mineralisation, including magmatic sulphides that host nickel-copper-PGE sulphide mineralisation.
“The results are extremely encouraging as they show the potential for a further high-grade discovery to be made, potentially with similar style geology to the nearby Savannah nickel-copper deposit, which was emplaced later than the Panton intrusion, or a contact-style deposit such as the Flatreef,” FME Managing Director Jardee Kininmonth said.
The drilling program was completed last month and the company intended to get a downhole electromagnetic (DHEM) survey underway, but the recent floods have delayed these plans. Future Metals has confirmed the DHEM work is set to begin shortly.
FME shares closed 1.27 per cent higher at eight cents per share on Thursday afternoon.
