8 June 2023
Future Metals NL
Investor Webinar
Future Metals NL (Future Metals or the Company) (ASX | AIM: FME), is pleased to invite investors to a webinar hosted by Managing Director and CEO Jardee Kininmonth, who will provide a formal company update followed by Q&A.
The investor webinar will provide a progress update on scoping study, metallurgical and exploration activities at its 100% owned Panton PGM-Ni Project in northern Western Australia.
Australian-based (ASX) shareholders and investors are invited to register for the free webinar here:
WEBINAR URL https://register.gotowebinar.com/register/1140219278417734486
DATE: Tuesday, 13 June 2023
TIME: 9:30am AWST / 11:30am AEST
DURATION: ~30 minutes
United Kingdom-based (AIM) shareholders and investors are invited to register for the free webinar here:
WEBINAR URL https://attendee.gotowebinar.com/register/4842814789349534297
DATE: Tuesday, 13 June 2023
TIME: 9:30am BST / 4:30pm AWST
DURATION: ~30 minutes
After registering, you will receive a confirmation email containing a calendar invitation and information about joining the webinar.
Investors are invited to submit questions prior to the event to alex@investorstream.com.au.
Authorised for release by the Managing Director.
ENDS
For further information, please contact:
|
Future Metals NL |
+61 8 9480 0414 |
| Jardee Kininmonth | |
| Strand Hanson Limited (Nominated Adviser) | +44 (0) 207 409 3494 |
| James Harris/James Bellman | |
| Panmure Gordon (UK) Limited (UK Broker) John Prior/Hugh Rich/Soman Thakran | +44 (0)207 886 2500 |
| FlowComms (UK IR/PR) | +44 (0) 789 167 7441 |
| Sasha Sethi | |
Notes to Editors:
About the Panton PGM-Ni Project
The 100% owned Panton PGM-Ni Project is located 60kms north of the town of Halls Creek in the eastern Kimberly region of Western Australia, a tier one mining jurisdiction. The project is located on three granted mining licences and situated just 1km off the Great North Highway which accesses the Port of Wyndham (refer to Figure One).
The Project hosts an independent JORC Code (2012) MRE of 129Mt @ 1.20g/t PGM3E, 0.19% Ni, 0.04% Cu and 154ppm Co (1.66g/t PdEq2) at a cut-off grade of 0.90g/t PdEq for contained metal of 5.0Moz PGM3E, 239kt Ni, 48kt Cu and 20kt Co (6.9Moz PdEq). The MRE includes a high-grade reef of 25Mt @ 3.57g/t PGM3E1, 0.24% Ni, 0.07% Cu and 192ppm Co (3.86g/t PdEq) for contained metal of 2.9Moz PGM3E, 60kt Ni, 18kt Cu and 5kt Co (3.2Moz PdEq) (refer to the Company's announcement of 21 June 2022 for further details).
PGM-Ni mineralisation occurs within a layered, differentiated mafic-ultramafic intrusion referred to as the Panton intrusive which is a 12km long and 3km wide, south-west plunging synclinal intrusion. PGM mineralisation is hosted within a series of stratiform chromite reefs as well as a surrounding zone of mineralised dunite within the ultramafic package.
The Company confirms it is not aware of any new information or data which materially affects the information included in the announcement referenced above.
Figure One | Panton PGM Project Location
About Platinum Group Metals (PGMs)
PGMs are a group of six precious metals being Platinum (Pt), palladium (Pd), iridium (Ir), osmium (Os), rhodium (Rh), and ruthenium (Ru). Exceptionally rare, they have similar physical and chemical properties and tend to occur, in varying proportions, together in the same geological deposit. The usefulness of PGMs is determined by their unique and specific shared chemical and physical properties.
PGMs have many desirable properties and as such have a wide variety of applications. Most notably, they are used as auto-catalysts (pollution control devices for ICE vehicles), but are also used in jewellery, electronics, hydrogen production / purification and in hydrogen fuel cells. The unique properties of PGMs help convert harmful exhaust pollutant emissions to harmless compounds, improving air quality and thereby enhancing health and wellbeing.
Appendix One
Panton Mineral Resource Estimate (JORC Code 2012)
| Resource | Category | Mass | Grade | Contained Metal | |||||||||||||||
|
| | (Mt) | Pd (g/t) | Pt (g/t) | Au (g/t) | PGM3E (g/t) | Ni (%) | Cu (%) | Co (ppm) | PdEq1 (g/t) | Pd (Koz) | Pt (Koz) | Au (Koz) | PGM3E (Koz) | Ni (kt) | Cu (kt) | Co (kt) | PdEq1 (Koz) | |
| Reef | Indicated | 7.9 | 1.99 | 1.87 | 0.31 | 4.16 | 0.24 | 0.07 | 190 | 4.39 | 508 | 476 | 78 | 1,062 | 19.1 | 5.2 | 1.5 | 1,120 | |
|
| Inferred | 17.6 | 1.59 | 1.49 | 0.22 | 3.30 | 0.23 | 0.07 | 193 | 3.63 | 895 | 842 | 123 | 1,859 | 41.1 | 13.1 | 3.4 | 2,046 | |
|
| Subtotal | 25.4 | 1.71 | 1.61 | 0.24 | 3.57 | 0.24 | 0.07 | 192 | 3.86 | 1,403 | 1,318 | 201 | 2,922 | 60.3 | 18.2 | 4.9 | 3,166 | |
|
| | | | | | | | | | | | | | | | | | | |
| Dunite | Inferred | 103.4 | 0.31 | 0.25 | 0.07 | 0.62 | 0.17 | 0.03 | 145 | 1.12 | 1,020 | 825 | 225 | 2,069 | 179.6 | 30.2 | 15.0 | 3,712 | |
|
| Subtotal | 103.4 | 0.31 | 0.25 | 0.07 | 0.62 | 0.17 | 0.03 | 145 | 1.12 | 1,020 | 825 | 225 | 2,069 | 179.6 | 30.2 | 15.0 | 3,712 | |
|
| | | | | | | | | | | | | | | | | | | |
| All | Indicated | 7.9 | 1.99 | 1.87 | 0.31 | 4.16 | 0.24 | 0.07 | 190 | 4.39 | 508 | 476 | 78 | 1,062 | 19.1 | 5.2 | 1.5 | 1,120 | |
|
| Inferred | 121 | 0.49 | 0.43 | 0.09 | 1.01 | 0.18 | 0.04 | 152 | 1.48 | 1,915 | 1,667 | 347 | 3,929 | 219.7 | 43.2 | 18.4 | 5,758 | |
|
| Total | 129 | 0.58 | 0.52 | 0.10 | 1.20 | 0.19 | 0.04 | 154 | 1.66 | 2,423 | 2,143 | 425 | 4,991 | 238.8 | 48.4 | 19.9 | 6,879 | |
1 Refer below and ASX Announcement 21 June 2022
2 No cut-off grade has been applied to reef mineralisation and a cut-off of 0.9g/t PdEq has been applied to the dunite mineralisation
1 Palladium metal equivalents
Based on metallurgical test work completed on Panton samples, all quoted elements included in the metal equivalent calculation (palladium, platinum, gold, nickel, copper and cobalt) have a reasonable potential of being ultimately recovered and sold.
Metal recoveries used in the palladium equivalent (PdEq) calculations are in the midpoint of the range of recoveries for each element based on metallurgical test work undertaken to date at Panton. It should be noted that palladium and platinum grades reported in this announcement are lower than the palladium and platinum grades of samples that were subject to metallurgical test work (grades of other elements are similar).
Metal recoveries used in the palladium equivalent (PdEq) calculations are shown below:
§ Reef: Palladium 80%, Platinum 80%, Gold 70%, Nickel 45%, Copper 67.5% and Cobalt 60%
§ Dunite: Palladium 70%, Platinum 70%, Gold 70%, Nickel 45%, Copper 67.5% and Cobalt 60%
Assumed metal prices used are also shown below:
§ Palladium US$1,700/oz, Platinum US$1,300/oz, Gold US$1,700/oz, Nickel US$18,500/t, Copper US$9,000/t and Cobalt US$60,000/t
Metal equivalents were calculated according to the follow formulae:
§ Reef: PdEq (Palladium Equivalent g/t) = Pd(g/t) + 0.76471 x Pt(g/t) + 0.875 x Au(g/t) +1.90394 x Ni(%) + 1.38936 x Cu(%) + 8.23 x Co(%)
§ Dunite: PdEq (Palladium Equivalent g/t) = Pd(g/t) + 0.76471 x Pt(g/t) + 0.933 x Au(g/t) +2.03087 x Ni(%) + 1.481990 x Cu(%) + 8.80 x Co(%)
The Company confirms it is not aware of any new information or data which materially affects the information included in the announcement referenced above.
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