Future Metals NL (ASX: FME) has commenced ground-based geophysical surveys, with exploration drilling expected to commence in October 2022, at its 100% owned Panton PGM-Nickel Project in northern Western Australia.
The company has commenced ground geophysical surveys (gravity and EM) to improve the definition of known conductive bodies identified from airborne surveys; and to map the structure of the Panton intrusion at depth.
Data from these surveys will refine the planned drill programme targeting sulphide mineralisation, with a contractor secured to mobilise to site in early October 2022.
The exploration programme is being undertaken in parallel to the ongoing scoping study and metallurgical testwork programme underway on the existing 6.9Moz PdEq resources.
Future Metals has retained the services of Ni-Cu-PGE expert, Dr Jon Hronsky, as the company’s Senior Exploration Advisor. His previous review of the Panton geological model highlighted the significant exploration potential at Panton, outside of the existing resource area, particularly in the untested lower portion of the stratigraphy, towards the basal contact, a position that has analogies to the setting of Ivanplats’ Platreef deposit and Chalice Mining Ltd’s Gonneville deposit.
A gravity survey is well advanced and a ground electromagnetic EM survey is expected to commence shortly. In addition to following up targets from previous airborne surveying, this ground EM survey will also cover the lower series ultramafics (Lower Zone) in the northern portion of the tenement which were excluded from the prior airborne survey.
It is expected that these surveys will generate new anomalies that will warrant drill testing. The Company is being supported by Terra Resources and Southern Geoscience Consultants on its geophysical programmes.
Further details in relation to initial drill targets and exploration priorities are expected in the upcoming weeks. Site access works and drill pad preparation is expected to begin during the first week of October.
“It’s incredibly exciting to kick off our 2022 field season at Panton on the back of our exploration review. The review highlighted that the Panton Project is highly prospective with respect to making a Ni-Cu-PGE sulphide discovery in the previously untested lower portion of the stratigraphy of the ultramafic series,” Managing Director and CEO, Jardee Kininmonth, said.
“We are taking a measured approach to validating and generating drill targets by completing a ground-based geophysical programme ahead of commencing drilling in October. We are targeting a discovery outside of the existing resource area, with different geological association, more akin to the Platreef or Gonneville deposits.
“The company is progressing multiple value drivers with this exploration programme, scoping study and metallurgical test work activities.
“I am also pleased to have Dr Jon Hronsky join our team on an ongoing basis as Senior Exploration Advisor. Jon was instrumental in our exploration review and developing the Panton exploration model. He brings over 35 years of experience exploring layered intrusives such as ours, including as leader of generative exploration for WMC Resources and BHP.”
