{"id":445,"date":"2023-10-26T05:11:43","date_gmt":"2023-10-26T05:11:43","guid":{"rendered":"https:\/\/economicherald.net\/?p=445"},"modified":"2023-10-26T05:11:43","modified_gmt":"2023-10-26T05:11:43","slug":"resource-upgrade-solidifies-futures-92-9mt-panton-as-one-of-the-highest-grade-pgm-projects-in-the-world","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=445","title":{"rendered":"Resource upgrade solidifies Future\u2019s 92.9Mt Panton as one of the highest grade PGM projects in the world"},"content":{"rendered":"<p>FME\u2019s upgrade resource at Panton confirms its status as the highest-grade PGM projects globally<br \/>\nThe resource also includes the chromite grade for the first time, greatly enhancing the overall value of the project with chromite being a highly sought after product<br \/>\nFME is finalising the scoping study, targeted for release in November <\/p>\n<p>\u00a0<\/p>\n<p><strong>FME\u2019s upgraded 92.9Mt resource at 2 g\/t palladium equivalent for 6Moz palladium includes an Indicated category which comprises 44% of the total resource, up from 6% previously. <\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/future-metals-fme\/\">Future Metals\u2019 (ASX:FME)<\/a> Panton project north of Halls Creek in Western Australia\u2019s Kimberley region is Australia\u2019s highest grade PGM project and one of the highest grade undeveloped PGM projects globally.<\/p>\n<p>The advanced project offers a strategic source of PGM supply outside of prominent producers Russia and South Africa, which are not sought-after investment jurisdictions particularly compared to Western Australia.<\/p>\n<p>\u00a0<\/p>\n<p>Panton PGM project location. Pic via Future Metals<\/p>\n<p>\u00a0<\/p>\n<p>Platinum group metals (PGMs) are a group of six precious metals including platinum, palladium, iridium, osmium, rhodium, and ruthenium, with similar physical and chemical properties in varying proportions in the same geological deposit.<\/p>\n<p>They are used in auto-catalysts (pollution control devices for vehicles in electronics), jewellery, hydrogen production and purification and in hydrogen fuel cells.<\/p>\n<p>FME is also nearing completion on its long-awaited scoping study at the project, targeted for November, detailing a long life and low capital high-grade PGM-nickel operation.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>\u2018One of the only chromite projects in Aus\u2019 <\/strong><\/h2>\n<p>The resource at Panton has been substantially upgraded with improvements in grade, JORC classification and the inclusion of a chromite estimate for the first time, positioning it as one of the only chromite projects in Australia and one of the few in a top tier jurisdiction.<\/p>\n<p>FME\u2019s total Panton resource is now 92.9Mt at 1.5g\/t PGM, 0.20% Ni, 3.1% Cr for contained metal of 4.5Moz PGM, 185kt Ni, 2.8Mt Cr, reported across three separate units including the Reef, the High-Grade Dunite and the Bulk Dunite.<\/p>\n<p>The Reef component has an MRE of 10.8Mt at 5.6g\/t PGM, 0.27% Ni, 14.6% Cr for contained metal of 2.0Moz PGM, 29kt Ni, 1.6Mt Cr.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>\u2018Impressive grade\u2019 <\/strong><\/h2>\n<p>\u201cThis new MRE clearly highlights the impressive grade of the Reef at Panton,\u201d FME managing director Jardee Kininmonth says.<\/p>\n<p>\u201cIn addition, the High Grade Dunite at the contact of the reef has also been separately modelled for the purposes of more effective underground mine design.<\/p>\n<p>\u201cBoth the Reef and dunite remain open at depth where drilling demonstrates a thickening in mineralisation and increasing grades, providing significant growth potential,\u201d he says.<\/p>\n<p>\u201clt also includes the chromite grade for the first time following successful test work demonstrating the ability to produce a saleable chromite concentrate subsequent to PGM flotation.\u201d<\/p>\n<p>This high-grade chromite mineralisation enhances the overall value at Panton, Kininmonth says, with chromite being a highly sought after product for use in the steel industry and its global supply highly concentrated in Africa.<\/p>\n<p>\u201cWe look forward to finalising the scoping study and demonstrating our expectation that Panton can support a low capital, long life and profitable operation.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Breakdown of palladium equivalent and basket price per PGM ounce. Pic via Future Metals<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Future Metals, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/resource-upgrade-solidifies-futures-92-9mt-panton-as-one-of-the-highest-grade-pgm-projects-in-the-world\/\">Resource upgrade solidifies Future\u2019s 92.9Mt Panton as one of the highest grade PGM projects in the world<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>FME\u2019s upgrade resource at Panton confirms its status as the highest-grade PGM projects globally The resource also includes the chromite grade for the first time, <a href=\"https:\/\/economicherald.net\/?p=445\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":1,"featured_media":249,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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