Future Metals doubles exploration position near Panton
October 05, 2023 at 03:11 pm EDT
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Future Metals NL (ASX:FME, AIM:FME) managing director Jardee Kininmonth tells Proactive an option agreement to acquire 100% of Osprey Minerals Pty Ltd is set to give FME around 100 square kilometres of highly prospective exploration tenements in the East Kimberley region of Western Australia. The strategic acquisition, which includes the drill-ready Eileen Bore copper-nickel-platinum group metals (PGM) prospect, gives FME ground within a 20-kilometre radius of its 100%-owned Panton Project. Previous drilling at Eileen Bore has returned wide zones of shallow copper, nickel and PGM mineralisation. FME sees large scale potential with historical drilling proving mineralisation across a roughly 400-metre extent and geophysics demonstrating potential for 2.2 kilometres of NE-SW strike and untested anomalism 1 kilometre to the east.
“The acquisition of Eileen Bore will provide Future Metals further significant exploration upside,” Kininmonth said.
“Eileen Bore has expansive strike potential and drilling to date shows it is open at depth and potentially down plunge. Proving up another deposit of scale will be highly complementary to our existing resource at the Panton Project. The overall Osprey package substantially grows the company’s land position in a highly prospective and underexplored region.”
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Proactive Investors
Jonathan Jackson
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jonathan@proactiveinvestors.com
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Future Metals NL is an Australia-based exploration company focused on advancing its Panton platinum group metals (PGM)-Nickel-Chromium (or Chromite) (Panton PGM-Ni-Cr) Project in the eastern Kimberley region of Western Australia. The Company's 100% owned Panton PGM-Ni-Cr project is located approximately 60 kilometers north of the town of Halls Creek in the east Kimberley region of Western Australia, a tier one mining jurisdiction. The Project is located on three granted mining licenses and situated one kilometer off the Great North Highway which accesses the Port of Wyndham. The Mineral Resource Estimate (MRE) has been reported across three separate unit: the Reef, the High-Grade Dunite and the Bulk Dunite. The Panton PGM-Ni-Cr Project's tenements include M80/103, M80/104 and M80/105 with approximately 8.6 square kilometers (km2), 5.7 km2 and 8.3 km2 respectively. Its Osprey Projects cover an area of around 100 (km2), which is located in the East Kimberley region of Western Australia.