Future Metals hits visible sulphides at northern WA Panton PGM project; assays pending

Thu 03 Nov 22, 2:28pm (AEST)
Eucalypt trees stand in the foreground of rugged terrain typical of northern West Australia under a blue sky
Source: iStock

Key Points

  • Future Metals has hit more sulphide in cores after doing the same in July, later confirmed to contain PGM elements
  • Company is now awaiting assay results from latest batch; management expects denser mineralisation in next drill run
  • Downhole EM survey to progress through November

Future Metals (ASX:FME) is reporting today the company’s intersection of sulphide mineralisation in shallow core samples pulled from its latest drilling run at the company’s Panton project. 

The company today describes the latest magmatic sulphide discovery as “a significant technical breakthrough confirming potential for larger sulphide accumulations at depth.” 

Magmatic rock refers to that associated with formation from magma in deep geological history, which can be coincident with precious metal mineralisation, and especially if sulphides are present. 

More sulphide success at Panton

Back in July, the company unveiled another sulphide hit at Panton which later assays confirmed contained nickel, copper, and platinum group metals under one gram per tonne of ore. 

Future’s Panton project is one of many exploratory drilling campaigns to have won WA government funding support this year. 

The Panton platinum group metals (PGM) play is located 60km north of Halls Creek and is nearby the Great Northern Highway, implying future successful development of the mine would be well placed to haul materials in and out of the project site. 

Denser mineralisation anticipated: Management 

“The drilling of these sulphides are at the edge of the system where analogues would suggest mineralisation is at its weakest, and it is considered likely mineralisation will increase,” Future Metals CEO Jardee Kininmonth said. 

“Early drilling has been very encouraging, with the identification of magmatically emplaced disseminated sulphides for the first time at Panton.”

“This mineralisation provides significant evidence there is a Ni-Cu-PGE sulphide system encasing and underlying the existing reef-style mineralisation that makes up the current 6.9Moz PdEq JORC MRE.”

The company will move ahead with downhole electromagnetic imaging in November to better define, where possible, underground geology. 

Future Metals' six month charts
Future Metals' six month charts


Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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