Future Metals (ASX:FME) has identified multiple magmatic sulphide drilling targets at the Alice Downs Corridor, within the wholly owned Panton Project in Western Australia.
These targets uncovered include the Eileen Bore, Palamino, and Salk drill targets — all of which show ultramafic host rocks with in situ mineralisation and structurally analogous to the nearby Copernicus nickel-copper mine.
Future, which has a market capitalisation of $14.15 million, has planned a drilling campaign for early Q2 2024, aimed to test the down plunge extension of the Eileen Bore target, as well as confirm adjacent near-surface economic mineralisation at targets 2 and 3.
Follow-up stages will occur if initial drilling determines the potential for a material amount of economic mineralisation.
The company also plans to conduct field mapping and sampling along the Alice Springs Corridor focusing on confirming the current geological model and refine Palamino and Salk.
The Eileen Bore prospect is considered an advanced exploration target. Mineralisation remains open down plunge and at depth, with mineralisation only tested to 96m.
Future Metals is an Australian-based mineral explorer focused on advancing its Panton Project in the eastern Kimberley region of Western Australia.
As of 31 December 2023, the company had $607,000 cash and cash equivalents at hand, according to its latest quarterly report. Post-quarter-end, Future Metals raised $3 million via a capital raising.
Write to Aaliyah Rogan at Mining.com.au
Images: Future Metals