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Future Metals take aim at Panton sulphides

17 November 2022 11:29
ASX: FME

Future Metals continue to demonstrate a large new nickel-copper-PGE sulphide system lying at Panton, with new near-surface sulphide intercepts indicating a prospective new mineralised zone at the West Australian project.

Believed to be a continuation of mineralisation just 4km northeast, the new target zone was identified when two drill holes targeting electromagnetic conductors intersected heavily disseminated to matrix-textured sulphides.

Drilling continues to shore up the previously uncovered lower zone, with the rig hitting a similar EM target distal to the interpreted highly mineralised ‘keel’ position, pulling up over 350 metres of disseminated magmatic sulphides.

Future Metals have now completed a total of 1,340 metres of drilling over Panton, with all holes so far intersecting sulphide mineralisation and giving credence to belief in a large Ni-Cu-PGE system encircling the known mineralisation which comprises its 6.9-million-ounce palladium equivalent estimate.

“It is incredibly encouraging to have our sulphide exploration programme continue to be validated with positive results,” managing director and chief executive Jardee Kininmonth said.

“PS411 and PS412 open up a completely new target zone in the south, an area which was previously overlooked due to minimal outcropping chromite reef relative to the resource area in the north-east.”

Drilling is expected to wrap up late next month, with the rig now targeting the keel position to the north, with downhole EM surveys now underway in completed holes to identify further targets.

FME’s Australian Stock Exchange-listed share price was trading at 12c today (10:19 am UTC+ 8 hours).

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