- Future Metals (FME) receives assays for nine more historical drill holes at its Panton PGM project in WA
- The company has now received most of the assays which have all confirmed “significant intercepts of mineralisation” along the current 3.5-kilometre strike at Panton
- Future has begun working on an updated mineral resource estimate which it expects to announce before the end of the June quarter
- FME shares have fallen 5.88 per cent in the red to trade at 16 cents
Future Metals (FME) has received more shallow, wide platinum group metal (PGM) results from its Panton PGM project in Western Australia.
The assays account for a further nine historical drill holes which weren’t previously sampled.
Results include 60.5 metres at 1.24g/t palladium equivalent (palladium, platinum and gold [PGM 3E] and nickel) from 0 metres, 14 metres at 1.6g/t palladium equivalent from 234 metres, and 14 metres at 1.48g/t palladium equivalent from 67.05 metres.
These assays build on intercepts announced in April which include 53.3 metres at 1.74g/t palladium equivalent from 80 metres.
“All drill results returned to date have confirmed significant intercepts of mineralisation, demonstrating the strong continuity of the Panton orebody along its current 3.5-kilometre strike, and the lateral extent of mineralisation sitting outside of the chromite reefs,” Managing Director and CEO Jardee Kininmonth said.
Assays for the remaining holes are expected to be reported in the next few weeks.
In the meantime, Future Metals has begun working on the new bulk-tonnage mineral resource estimate which the company expects to announce before the end of the June quarter.
FME shares fell 5.88 per cent to 16 cents at 2:01 pm AEST.