RCS - Future Metals NL - Investor Webinar

Future Metals NLAnnouncement

08/06/2023 07:00

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RNS Number : 0100C  Future Metals NL   08 June 2023

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
(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
(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 (mailto: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                          info@future-metals.com.au (mailto:info@future-metals.com.au)
 Strand Hanson Limited (Nominated Adviser)  +44 (0) 207 409 3494
 James Harris/James Bellman
 Panmure Gordon (UK) Limited (UK Broker)    +44 (0)207 886 2500

 John Prior/Hugh Rich/Soman Thakran
 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
PGM(3E), 0.19% Ni, 0.04% Cu and 154ppm Co (1.66g/t PdEq(2)) at a cut-off grade
of 0.90g/t PdEq for contained metal of 5.0Moz PGM(3E), 239kt Ni, 48kt Cu and
20kt Co (6.9Moz PdEq). The MRE includes a high-grade reef of 25Mt @ 3.57g/t
PGM(3E)(1), 0.24% Ni, 0.07% Cu and 192ppm Co (3.86g/t PdEq) for contained
metal of 2.9Moz PGM(3E), 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      Pt      Au      PGM(3E) (g/t)  Ni    Cu    Co      PdEq(1)  Pd          Pt      Au      PGM(3E) (Koz)  Ni     Cu     Co     PdEq(1)

                             (g/t)   (g/t)   (g/t)                  (%)   (%)   (ppm)   (g/t)    (Koz)       (Koz)   (Koz)                  (kt)   (kt)   (kt)   (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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