Future Metals NL (ASX:FME, AIM:FME) has delivered near-surface sulphide mineralisation in its ongoing diamond drilling program, providing further evidence for a large nickel-copper-PGE system at its Panton Project in the East Kimberley Region of Western Australia.
Notably, the company intersected heavily disseminated matrix-textured sulphides in the southern holes within broader intervals of more than 40 metres of disseminated sulphides.
These intersections demonstrate a prospective new mineralised zone, four kilometres southwest of the known high-grade chromite reef-hosted mineralisation.
To date, six diamond drill holes have been completed, with every hole intersecting sulphide mineralisation.
Moving forward, Future has kicked off drilling into the keel position in the north and will shortly begin running DHEM on each of the completed drill holes to identify further targets and complete ground-based EM surveys over the gravity anomaly areas.
“Validated with positive results”
Future managing director Jardee Kininmonth said: “It is incredibly encouraging to have our sulphide exploration program continue to be validated with positive results.
“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 northeast.
“Our advanced gravity inversion modelling, EM surveys and recent drilling have uncovered what is a highly prospective zone which is interpreted to be an extension of the keel position identified under the chromite reefs.
“Further, in hole PS410 we have drilled over 350 metres of magmatically emplaced disseminated sulphides near the chromite reefs, in the outer area of the keel position.
“This is again, extremely encouraging as it aligns with multiple analogues for this style of mineralisation, with disseminated sulphides forming a ‘cloud’ or ‘halo’ around a keel position which is more heavily mineralised.
“This provides us with confidence that the keel position will ultimately be shown to host a large sulphide body.”
Drill highlights
Drill holes PS411 and PS412 were targeting EM conductors in the south of the Panton Project area.
The EM targets are broadly coincident with the large gravity anomaly in the south, identified through a recent gravity survey.
Hole PS410 was drilled in the ‘Lower Zone’ of the Panton Intrusion, in the northeast near the chromite reefs, testing a large magnetic anomaly distal to the interpreted ‘keel’ position in this area.
Significant sulphide system
Although the mineralisation appears to be remobilised, it is significant in that sulphides are present in gabbroic to anorthositic lithologies which overlay the dunite and chromite reefs of the complex.
These drill holes are over four kilometres to the southwest of hole PS410 which intersected over 350 metres of disseminated intercumulus magmatic sulphides in dunite.
This demonstrates the potential for the Panton Intrusion to host a significant sulphide system in addition to its chromite-hosted PGM reefs.