Future Metals
NL
("Future
Metals" or the "Company")
Significant Copper-Nickel
Discovery at Eileen Bore with 4.5km Strike
Potential
Highlights
· Drilling at Eileen Bore has
confirmed significant Cu-Ni mineralisation,
including:
o 30m @1.06% Cu, 0.45%Ni &
1.14g/t PGM(3E) from 88.9m (EBDD002)
· Drilling results, combined
with recent ground gravity, confirm the Eileen Bore mineralisation
to be a faulted section (offset 300m north) of a newly defined
4.5km NE trending intrusion
· Holes EBDD003 and EBDD004
were drilled in the northern end of the 4.5km intrusion,
representing the first ever drilling of this target
area. The results have confirmed the intrusion to be
mineralised, with 127m of anomalous magmatic sulphides intersected
including:
o 7.4m @ 0.46% Cu, 0.51% Ni and
0.3g/t PGM(3E) (EBDD003)
· The newly defined 4.5km
intrusion represents a significant advancement in the potential of
the Eileen Bore Prospect, and Future Metals believes that there is
significant scope for expansion in the size and grade of
mineralisation within the 4.5km intrusion via future exploration
activity

Figure 1:
Plan view on
ground gravity (Terrain Corrected bouguer anomaly tilt image)
showing the extent of the main intrusion, location of all drilling
and density targets similar to hole EBDD003
intersections.
Future Metals NL ("Future Metals" or the "Company", ASX | AIM: FME)
is pleased to announce that recent drilling and
ground gravity undertaken at the Eileen Bore Prospect
("Eileen Bore") and the
adjacent previously undrilled 'Target 2', within the Alice Downs
Corridor, has returned a significant mineralised intrusive
extending over a strike of 4.5km.
A total of four diamond holes were
drilled for, in aggregate, 1,195m, co-funded by a recent EIS grant.
Two diamond holes (EBDD001 and EBDD002) were drilled at Eileen Bore
to test for extensions and confirm the
continuity of wide zones of copper & nickel mineralisation
encountered in historical drilling. A further two diamond
holes (EBDD003 and EBDD004)
were drilled at Target 2 as a first pass test of
surface mineralisation (see Figure 1). Drilling commenced at the historical Eileen Bore prospect to
confirm and test for extensions to Cu-Ni mineralisation. Hole
EBDD002 intersected a 30m zone at 1.06% Cu, 0.45% Ni and 1.14g/t
PGM(3E) which confirmed historical grades and
mineralisation (see Figure 2).
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Figure 2:
| Cross section
looking northwest at Eileen Bore. Section line location
in Figure 1 & 3 and marked as A-A'.
The ground gravity survey, which was
completed at the same time as the drilling, indicates that
mineralisation at Eileen Bore has been faulted approximately 300m
north from the main intrusion. The gravity data indicates a
4.5km long intrusion with internal density variations and
north-south faulting. There has been no prior drilling into
this main intrusive target (see Figure
1).
The prospectivity of this 4.5km
intrusion was confirmed by hole EBDD003, which intersected 7.4m at
0.46% Cu, 0.51% Ni and 0.3g/t PGM(3E) within a magmatic
sulphide fertile pyroxenite. The fertile ultramafic extends
over 127.25m with anomalous associated Ni-Cu-Pd-Pt-S
throughout. The significant intersection occurs within a
mineralised finger of magma (an apophyses) within the larger
ultramafic.
Holes EBDD003 and EBDD04 were
drilled in what was previously interpreted to be a fold hinge with
confirmed surface soil anomalism and pentlandite, chalcopyrite and
pyrrhotite confirmed in historical petrography. The recent ground
gravity survey indicates that this interpretation was incorrect,
and that the folding is all pre-emplacement of the original
mafic-ultramafic, thereby opening up the 4.5km of prospective
strike of the intrusion.
The Target 3 area, which is now
interpreted as the southeastern extent of the 4.5km intrusion, is
yet to be drilled. This area also has a coincident soil anomaly and
density anomaly larger than that drilled in hole EBDD003
(see Figure 3). Additionally, the Target 3 area has had no ground
targeting geophysics (namely EM) or a complete soil
survey.

Figure 3:
Plan image on
TMI-RTP magnetics 1VD showing soil anomaly with section
lines.
Further work to advance the area will
include ground EM to focus follow up drilling within the main 4.5km
Eileen Bore Intrusion.
Table One | Mineralisation percentages, pXRF have confirmed
chalcopyrite and pentlandite mineralogy
Hole
ID
|
Depth
(m)
|
Interval
(m)
|
Cu cut off
%
|
Max waste
int
(m)
|
Cu
%
|
Ni
%
|
3E
g/t
|
S
%
|
Co
%
|
EBDD001
|
128.95
|
3.25
|
0.3
|
0
|
0.46
|
0.16
|
0.51
|
0.88
|
0.03
|
|
|
|
|
|
|
|
|
|
|
EBDD002
|
79.9
|
40.1
|
0.3
|
0
|
0.92
|
0.39
|
1.01
|
2.23
|
0.017
|
incl
|
88.9
|
30
|
1.0
|
4
|
1.06
|
0.45
|
1.14
|
2.60
|
0.019
|
|
138.4
|
1
|
0.3
|
0
|
0.59
|
0.26
|
0.74
|
1.34
|
0.013
|
|
|
|
|
|
|
|
|
|
|
EBDD003
|
124.9
|
7.4
|
0.3
|
0
|
0.46
|
0.51
|
0.30
|
1.56
|
0.015
|
incl
|
127.6
|
4.7
|
0.5 Ni
|
0
|
0.52
|
0.64
|
0.34
|
1.89
|
0.017
|
|
|
|
|
|
|
|
|
|
|
Table Two | Holes drilled in MGA94 Zone 52
HoleID
|
Easting
|
Northing
|
RL
|
EOH (m)
|
Dip
|
Azi
|
Drill Type
|
Prospect
|
EBDD001
|
389556
|
8039930
|
384
|
296.2
|
-60
|
120
|
Diamond
|
Eileen
Bore
|
EBDD002
|
389580
|
8039890
|
384
|
275.4
|
-60
|
120
|
Diamond
|
Eileen
Bore
|
EBDD003
|
390537
|
8040350
|
382
|
316
|
-60
|
120
|
Diamond
|
Target
2
|
EBDD004
|
390464
|
8040384
|
382.6
|
307.6
|
-60
|
115
|
Diamond
|
Target
2
|
Previous announcements that are relevant to
this announcement are:
· ASX
announcement of 13 February 2024 | Multiple Drill Targets
Identified Over an 18km Strike at the Recently Acquired Alice Downs
Corridor.
· ASX
announcement of 9 October 2024 | Drilling Underway at Eileen
Bore.
· ASX
announcement of 29 October 2024 | Copper Nickel Sulphide Intercepts
in Exploration Drilling
The Company confirms that it is not aware of
any information or data that materially affects the information
included in the abovementioned original announcements and the form
and context in which the Competent Persons' findings were presented
have not materially modified from the original market
announcements.
This announcement has been authorised and approved
for release by the Board.
For further
information, please contact:
Future Metals NL
|
Strand Hanson Limited (Nominated Adviser)
|
Patrick Walta
|
James Bellman/Rob Patrick
|
+ 61 8 9480 0414
|
+44 (0) 207 409 3494
|
info@future-metals.com.au
|
|
The information contained within
this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
No. 596/2014 as it forms part of United Kingdom domestic law
pursuant to the European Union (Withdrawal) Act 2018, as amended by
virtue of the Market Abuse (Amendment) (EU Exit) Regulations
2019.
Competent Person's Statement
The information in this announcement
that relates to Exploration Results is based on, and fairly
represents, information compiled by Ms Barbara Duggan, who is a
Member of the Australasian Institute of Mining and Metallurgy and
the Australian Institute of Geoscientists. Ms Duggan is the
Company's Principal Geologist and has sufficient experience which
is relevant to the style of mineralisation and type of deposit
under consideration and to the activity she is undertaking to
qualify as a competent person as defined in the 2012 Edition of the
"Australasian Code for reporting of Exploration Results,
Exploration Targets, Mineral Resources and Ore Reserves" (JORC
Code). Ms Duggan consents to the inclusion in this announcement of
the matters based upon her information in the form and context in
which it appears.