In a strategic move, Future Metals NL (ASX:FME, AIM:FME) is set to acquire 100-square kilometres of highly prospective tenure within 20 kilometres of its existing Panton Project, situated in the East Kimberley region of Western Australia.
In an interview with Proactive, MD Jardee Kininmonth described the acquisition as: "highly strategic" with "more targets than you can poke a stick at."
Among these, the Eileen Bore prospect stands out with its promising geological assessments.
"Some of the highlights there were 120 metres from surface at 0.7% copper, 0.3% nickel, and nearly a gram per tonne palladium equivalent," said Kininmonth.
According to Kininmonth, the new land package is in close proximity to the Panton Project and could be easily integrated into Future Metals' broader strategy.
"It's within about 15-20 kilometres to the east-northeast of our Pantone deposit.
While it's too early stage to understand how we're going to work that into the overall project development strategy, it's certainly going to be forefront of mind," he stated.
$FME Future Metals to make strategic acquisition that will double its exploration position https://t.co/A32233FlN4 @_futuremetals #FME #ASX #ASXNews— Proactive Australia (@proactive_au) October 4, 2023
The company is also nearing completion on its long-awaited scoping study, targeted for November, which will be accompanied by an updated JORC resource.
"We're really excited to deliver on that, which I think is really going to demonstrate the great advantage that we have at Pantone relative to the rest of the PGM space," Kininmonth noted.
Highlighting the unique selling point of the Panton Project, Kininmonth emphasised its high-grade resources. "We do have a very coherent high-grade reef that sits within a broader mineralized parcel.
This new potential acquisition further supplements that existing deposit," he concluded.