Future Metals (ASX:FME) has started an updated Scoping Study for its 100%-owned Panton PGM (platinum group metals) Project in Western Australia.
Aiming to demonstrate improved economics under a higher pricing environment and potentially lower capital requirements, the updated study will build on the previously released 2023 study and evaluate two potential development pathways.
It will compare a standalone greenfield development at Panton against mining at Panton and transporting material approximately 60km to the existing Savannah processing facility, which is owned by Zeta Resources (ASX:ZER) and currently under care and maintenance.
Managing Director Keith Bowes says the updated study represents an important step in defining a practical and capital-efficient development pathway for Panton.
“Our recent mineral resource estimate, along with our strategic review, the Savannah engineering assessment, and the exclusivity agreement signed with Zeta, have provided the company with good optionality and a strong platform to evaluate two robust development options,” Bowes says.
The base case will assess a standalone open-pit and underground operation, a new processing plant, and supporting infrastructure, with PGM and chromite concentrates transported to the Port of Wyndham for export.
Meanwhile, the alternative case will evaluate transporting material to Savannah, assessing existing plant infrastructure suitability, required modifications, haulage, and capital and schedule advantages relative to greenfield development.
Both pathways will incorporate concepts identified during the company’s recent strategic review, including a staged development approach, single flotation train, ore sorting, and comminution options.
The study is managed by Future Metals and ResourcesWA, and is supported by various specialists including Orelogy/Barminco, IMO, VantageEng, and Dhamana Consulting.
Future Metals notes negotiations with Zeta Resources regarding potential access to the Savannah plant will continue in parallel with the updated study.
The company also intends to progress metallurgical test work, early regulator engagements for accelerated approvals, ore-sorting assessments, and environmental site surveys, among other associated workstreams.
Future Metals likewise plans to immediately embark on the next stage of development as soon as it selects a preferred development pathway.
Located 60km north of Halls Creek in the Kimberley, Panton holds a mineral resource estimate of 82.3 million tonnes at 1.60 grams per tonne platinum equivalent (PtEq) and 1.30g/t PGM3E, containing 4.24 million ounces (Moz) PtEq and 3.51Moz PGM3E.
Future Metals is an explorer focused on advancing its Panton Project in the Kimberley region of WA.
Write to Paula Fabe at Mining.com.au
Images: Future Metals
