S&P GSCI PRECIOUS METALS INDEX (Alliance News) - Future Metals NL on Wednesday celebrated the start of its drill programme at the Panton North project in Western Australia.
Future Metals is a West Perth-based exploration company, focused on the Panton PGM project in Australia. The Panton project is located 60 kilometres north of Halls Creek, a town in east Kimberley.
PGMs are a group of six precious metals, being platinum, palladium, iridium, osmium, rhodium, and ruthenium.
A 2,000 metre reverse circulation drill programme has now started at Panton North, testing the BC1 and Panton West prospects. The targets are underpinned by coincident Ni-Cu-PGM anomalies across electromagnetics, magnetics, gravity, stream sediments, soil samples and rock chip samples.
Drilling at Panton West is co-funded with AUD147,000 of Exploration Incentive Scheme funding support from the Western Australia state government. The licence itself is subject a farm-in agreement with Octavia Minerals Ltd.
Future Metals shares were trading 0.4% lower at 2.34 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News reporter
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