Future Metals NL (ASX:FME, AIM:FME) has unveiled its quarterly activities report for the three months to September.
The report highlights the company’s key post-period news from October that the Panton project in Australia has emerged as one of the highest-grade undeveloped platinum gold metals (PGM) projects globally.
In the report, the company highlighted a significant upgrade to its independent JORC Code Mineral Resource Estimate (MRE) for the Panton platinum gold metals project.
The MRE now stands at 92.9 million tonnes with a grade of 1.5 grams per tonne of PGMs, including nickel and chromium oxide.
This upgrade solidified Panton as one of the highest-grade PGM projects in Australia and one of the top undeveloped PGM projects globally, Future Metals said.
Notably, the MRE also includes an estimate for the chromite content, establishing it as a unique chromite project in Australia.
In addition to this milestone, Future Metals entered into an option agreement with Osprey Minerals Pty Ltd to acquire approximately 100 square kilometres of highly prospective exploration land adjacent to the Panton Project.
Historical drilling at the Eileen Bore prospect also returned impressive results meanwhile, further enhancing the project's prospects.
Furthermore, strategic board changes are on the horizon with the proposed appointment of Patrick Walta as executive chairman come November. Walta brings valuable expertise in metallurgy and mineral economics to the company.