Interim results from FME’s ongoing 10,000-metre drilling exploration have demonstrated considerably higher PGM grades and width when compared to historical drilling and resource modelling. In particular, two standout holes have yielded above historical grades of 5.20g/t for 2.4Moz PGM, plus gold mineralisation at 1.22 g/t over 10m encountered one spot.
The company, which is exploring three granted mining licences near the Port of Wyndham, says the results define the project’s unique aspects, exceeding the current 2.4Moz JORC mineral resource estimate.
“With several holes still to be assayed, and drilling ongoing with weekly sample dispatches, we look forward to reporting further results in the coming weeks,” company director Justin Tremain said.
In addition to current drilling, the company is planning to shallow drilling along a northern anomaly.
It expects to be updating a complete list of results from the campaign before the end of the year.
FME’s Australian Stock Exchange-listed shares traded at 18c (4:03 pm, timezone GMT+ 8 hours).