Future Metals NL on Monday announced a ‘breakthrough’ in mining and processing at its Panton project in Western Australia.

The Perth-based platinum exploration company said its recoveries at the project average 286 grams of platinum, palladium, gold per tonne. Further, sort testing showed 97% recovery of high-grade platinum group metals bearing ore.

The company targets to complete a scoping study in the second half of 2023 ‘to enable all recent positive developments to be incorporated.’

Managing Director Jardee Kininmonth said: ‘We have now demonstrated a credible metallurgical solution which places Panton firmly on the development pathway. Panton is the highest grade PGM deposit in Australia, enabling us to progress a low capital and high margin operation with significant growth upside.

‘Optimisation and variability flotation test work has demonstrated highly repeatable results with strong recoveries at high concentrate grades. The ore sorting results are significant, as it is the key to increasing mineable tonnes while ensuring the ore reporting to the mill is high grade. This allows for increased economies of scale within the mine, utilising conventional underground mining methods, while decreasing processing plant capital costs by increasing the grade of the mill feed, with negligible losses of high-grade ore.’

Future Metals shares were flat at 4.55 pence each in London on Monday around midday.

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