Future Metals NL (ASX:FME, AIM:FME) has reported the latest metallurgical test results for the Panton project, in Western Australia, which it said indicates a “step change” in platinum group metal (PGM) recoveries.
Recoveries improved to 86% from 78% through successful tailings leaching, the company said in a stock market statement.
The findings de-risk the process flowsheet for Panton and improve the project economics, ahead of a scoping study which is currently underway.
"We have achieved another metallurgical breakthrough,” said Future Metals managing director Jardee Kininmonth. “We can now expect to recover approximately 86% of PGM metals from Panton ore feed and importantly over 93% of palladium.
“Combined with our ability to consistently achieve >280g/t PGM3E1 concentrate grades, Panton compares very favourably to analogous South African PGM operations.”
Kininmonth added: "We're also enthused by the potential to create a significant quantity of chromite concentrate from our tailings.
“This is another critical mineral, irreplaceable in the steel-making process, and with very limited supply from Western jurisdictions."
Future Metals expects to report the project’s scoping study during the fourth quarter of 2023.