Future Metals spots multiple copper-nickel-PGM drill targets along the Alice Downs Corridor - Stockhead (2024)

• Future Metals identifies copper-nickel-PGM drill targets along the Alice Downs Corridor
• Highly prospective area within its Eileen Bore project contains known nickel-copper sulphide mineralisation
• Drilling planned to test down-plunge extension of the Eileen Bore prospect
• FME will also test adjacent near-surface economic mineralisation at Drill Targets 2 and 3

Special Report: Future Metals has identified multiple magmatic sulphide drill targets prospective for copper-nickel-PGMs along the highly prospective Alice Downs Corridor within its Eileen Bore project in WA’s East Kimberley region.

The ~18km strike of the Alice Downs Corridor is characterised by a series of differentiated pyroxenite and gabbroic intrusions emplaced along the Alice Downs Fault – a major north-northeast trending splay off the deep-seated, mantle tapping Halls Creek Fault.

Broad zones of disseminated and net-textured copper and nickel sulphides occur within the host intrusions of which the previously mined Copernicus deposit is one such example.

Confirmed nickel-copper sulphide mineralisation such as the Eileen Bore, Palamino and Salk prospects can also be found on Future Metals (ASX:FME) tenure despite cover limiting the effectiveness of historical surface sampling.

The Eileen Bore prospect is of particular interest as it is an advanced exploration target where drilling has confirmed wide, consistent zones of nickel-copper-PGM mineralisation from surface, along a known strike of a ~300m.

Mineralisation remains open down plunge and at depth, with mineralisation only tested to 96m with a top intersection of 120m @ 0.73% copper, 0.29% nickel and 0.86g/t PGM 3E from surface to end-of-hole, which includes a 16m interval @ 1% copper, 0.36% nickel and 0.99g/t PGM 3E from 100m.

Multiple drill targets

Eileen Bore is one of several targets – all of which show ultramafic host rocks with in-situ mineralisation and are structurally analogous to the nearby Copernicus nickel-copper mine – which FME has identified for drilling.

To the north of Eileen Bore, Drill Target 2 is based on coincident magmatic chalcopyrite-pyrrhotite mineralisation identified in peridotite rock chips by petrology and is associated with nickel, copper, PGM and gold soil anomalism.

Drill Target 3 to the south is associated with the same coincident soil anomalism identified at Eileen Bore and Drill Target 2.

Both have not been drill tested.

Other prospects to be tested include Salk, which is along strike to the north of Eileen Bore, and the Palamino prospect that is within the farm-in area where FME is earning up to 70% in from Octava Minerals (ASX:OCT).

Historical drilling at Salk identified nickel-copper mineralisation in an ultramafic interpreted to be in a fault offset position from the Copernicus mine.

This includes a top hit of 17m @ 0.31% nickel, 0.18% copper from 36m, including 2m @ 0.68% nickel and 0.31% copper.

Current structural interpretation suggests mineralisation plunges to the northwest and drilling at Salk has only been to the south.

At Palamino, historical drilling confirmed a thick pyroxenite body dipping to the northwest that was not previously mapped. Disseminated sulphides were intersected with best results being 5m @ 0.39% nickel and 0.32% copper in WCR016.

Future exploration plans

With targets identified, FME is now planning a drilling campaign to test the down-plunge extension of Eileen Bore and confirm adjacent near-surface economic mineralisation at Drill Targets 2 and 3.

This initial stage of drilling is planned to begin in early Q2 2024.

Should initial drilling determine the potential for economic mineralisation, the company will then carry out follow-up exploration in this area.

FME is also planning field mapping and sampling along the Alice Springs Corridor with a particular focus on Palamino and Salk to confirm the current geological model and refine these drill targets.

This article was developed in collaboration with Future Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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