Future Metals NL (ASX:FME, AIM:FME) managing director Jardee Kininmonth tells Proactive an option agreement to acquire 100% of Osprey Minerals Pty Ltd is set to give FME around 100 square kilometres of highly prospective exploration tenements in the East Kimberley region of Western Australia. The strategic acquisition, which includes the drill-ready Eileen Bore copper-nickel-platinum group metals (PGM) prospect, gives FME ground within a 20-kilometre radius of its 100%-owned Panton Project. Previous drilling at Eileen Bore has returned wide zones of shallow copper, nickel and PGM mineralisation. FME sees large scale potential with historical drilling proving mineralisation across a roughly 400-metre extent and geophysics demonstrating potential for 2.2 kilometres of NE-SW strike and untested anomalism 1 kilometre to the east.
“The acquisition of Eileen Bore will provide Future Metals further significant exploration upside,” Kininmonth said.
“Eileen Bore has expansive strike potential and drilling to date shows it is open at depth and potentially down plunge. Proving up another deposit of scale will be highly complementary to our existing resource at the Panton Project. The overall Osprey package substantially grows the company’s land position in a highly prospective and underexplored region.”
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