Future Metals NL (ASX:FME, AIM:FME) has outlined significant developments at its Panton Platinum Group Metals-Nickel (PGM-Ni) Project, located in the eastern Kimberley region of Western Australia, in its latest quarterly activities report.
The company noted that a large 1 kilometre-long embayment feature with multiple coincident nickel-copper-PGM sulphide geophysical and stream sediment anomalies has been discovered, and step-out drilling at Panton returned high-grade PGM mineralisation 350 metres beyond the existing 6.9 million ounce (Moz) palladium equivalent (PdEq) JORC Mineral Resource Estimate.
In addition, it said, flotation repeatability has been established with consistent metallurgical PGM average recoveries of 78%, and bulk ore sorter test work demonstrated 97% recovery of high-grade PGM-bearing ore.
The company said it is now well advanced in a scoping study incorporating the processing achievements and assessing the value add of downstream processing to produce high payability, low emission upgraded metal products. The company is targeting the finalisation and release of the study's findings in the second half of 2023.
Future Metals said it has also secured the right to farm-in to the adjoining and highly prospective Panton North exploration ground, which more than doubles the exploration position at Panton, and adds Copernicus North as a second project. Drill planning is underway for Q2 2023 to test the shallow BC1 target and other targets at Panton West.
In the statement, Jardee Kininmonth, managing director of Future Metals, commented: "Great progress has been made on both the Scoping Study which is assessing the development options for Future Metals' high-grade PGM resource, as well as our exciting nickel-sulphide exploration model.
"The metallurgical achievements and processing breakthrough will enhance the economic outcomes for the Scoping Study, and we are enthused by the potential upside from incorporating downstream processing into the study program, which could set Future Metals apart as a future high-grade, low-emissions PGM producer."