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(Sharecast News) - Future Metals confirmed a significant copper-nickel discovery at the Eileen Bore Prospect on Monday, with drilling results and ground gravity data identifying a newly-defined 4.5 kilometre mineralised intrusion.
The AIM-traded firm said a key intercept from hole EBDD002 returned 30 metres at 1.06% copper, 0.45% nickel, and 1.14 grams of platinum group metals (PGM) per tonne from 88.9 metres, confirming historical grades and continuity of mineralisation.
Drilling also tested the northern extent of the intrusion at the previously untested 'Target 2' area, with hole EBDD003 intersecting 7.4 metres at 0.46% copper, 0.51% nickel, and 0.3 PGM grams per tonne within a magmatic sulphide-bearing pyroxenite.
The broader 127 metre intersection contained anomalous nickel, copper, palladium, and platinum, supporting the potential scale of the discovery.
Future said the ground gravity survey suggested that mineralisation at Eileen Bore had been faulted 300 metres north from the main intrusion and extended along a 4.5 kilometre strike.
The company said it saw significant potential for expansion in both size and grade through further exploration, with upcoming work to include ground electromagnetic surveys to refine drill targets within the broader mineralised corridor.
At 0825 GMT, shares in Future Metals NL were up 11.6% at 0.84p.
Reporting by Josh White for Sharecast.com.
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