- Future Metals (FME) reports “positive” results from recent rock chip sampling at its wholly-owned Panton project in Western Australia
- The company found anomalous nickel sulphide mineralisation and several occurrences of mineralised ultramafic rock across the BC1 prospect area
- pXRF readings of a BC1 sample show an average grade of 0.43 per cent nickel, 0.06 per cent copper, 0.05 per cent cobalt and 0.22 per cent sulphur
- Future Metals plans to kick off reverse circulation drilling at BC1 in mid-May
- Meanwhile, FME has secured EIS funding of A$147,000 from the WA government to drill-test key targets at its Panton West prospect in June
- FME shares are trading 3.45 per cent higher at six cents at 11:00 am AEST
Future Metals (FME) has reported “positive” results from recent rock chip sampling at its wholly-owned Panton project in Western Australia.
The company has completed ground exploration work at the BC1 prospect in the area, confirming the presence of anomalous nickel sulphide mineralisation and several occurrences of mineralised ultramafic rock.
FME said portable X-ray fluorescence (pXR) readings of a BC1 sample show an average grade of 0.43 per cent nickel, 0.06 per cent copper, 0.05 per cent cobalt and 0.22 per cent sulphur.
The company plans to kick off a reverse circulation (RC) drilling program in the area in mid-May.
FME Managing Director Jardee Kininmonth said the company’s detailed geological mapping and sampling in the Panton and Panton North areas confirmed the mineralisation within the Panton complex.
“FME continues to build upon its nickel sulphide exploration model and work towards the discovery of a large, high-grade accumulation of nickel-copper sulphides,” Mr Kininmonth said.
“While BC1 and Panton West are the near-term targets for initial drilling in May and June 2023, we have made further exciting observations throughout the Panton project area, including the identification of a nickel and copper-rich gossan which graded 1.95 per cent nickel, 0.26 per cent copper, and 0.09 per cent cobalt by pXRF analysis.”
Future Metals has been approved for Environmental Impact Statement (EIS) funding from the WA government worth A$147,000 for a planned multi-hole RC drilling program at the Panton West prospect.
The company said it planned to provide further details on its targeting work through the second quarter of 2023.
FME shares were trading 3.45 per cent higher at six cents at 11:00 am AEST.