Future Metals NL (ASX:FME) expects to be admitted for trading on the AIM market of the London Stock Exchange on October 21, 2021, at 8:00 am London time while operational processes progress as planned at the Panton Platinum Group Metals (PGM) Project in the Kimberley region of Western Australia.
In conjunction with admission to the AIM, the company has appointed a highly credentialed UK-based director to augment the company’s existing board. It is proposed that Elizabeth Henson will be appointed to the board with effect from LME admission.
Henson, an experienced company director, was formerly a senior international private tax partner of PricewaterhouseCoopers (PwC) in London, having founded and led PwC’s International Wealth business.
Future Metals has also engaged WH Ireland as its UK Broker from admission. WH Ireland will assist with broking services, research, market-making and investor relations in the UK.
FME published an AIM Admission document on October 15, 2021, which will be made available on the company’s website at www.future-metals.com.au from admission.
Investors appear to have welcomed the dual listing, with an 8.15% increase in share price intraday to as high as $0.20 per share.
Panton operational update
Approximately 3,000 metres of drilling program has been completed so far at the Panton PGM Project across 13 diamond core holes with work proceeding as planned.
Ten initial holes have been submitted for assay, with eight submitted to Australian Laboratory Services (ALS) for assay and subsequent flotation test-work and optimisation. The remaining samples are being submitted to BV Australia for assay.
While drilling has targeted all of the domained zones within the Panton mineral resource estimate (MRE) to provide samples for metallurgical test-work and to test down dip for extensions, FME is also drilling a series of shallow sections across the B and C zones (see below).
A review of historical drilling data has highlighted broad zones of platinum and palladium mineralisation outside the current perimeter of the 2.4-million-ounce JORC mineral resource estimate.
The company sees potential for bulk shallow tonnage and is testing for this with a series of shallow (less than 150 metre) drill traverses across the B and C zones.
Current resource interpretation was constrained to upper and middle chromitite reefs of high grade and excluded platinum and palladium mineralisation outside these reef formations within the host dunite rock.
Often no sampling of historical drilling was undertaken outside the chromitite reef and/or drilling did not extend beyond the upper and middle chromite reefs.
Assays will be reported to the market when available.
FME's 100%-owned Panton PGM Project is 60 kilometres north of the town of Halls Creek in the eastern Kimberley region of Western Australia, a tier-one mining jurisdiction.
The project is on three granted mining licences and is just 1 kilometre off the Great North Highway which accesses the Port of Wyndham.
Panton has a JORC MRE of 14.32 million tonnes at 4.89 g/t PGM, 0.31 g/t gold and 0.27% nickel.