The Panton Mineral Resource is not closed off. Four areas have been identified where additional work could add to it. Exploration outcomes are uncertain, and the Company reports results as they are received and validated.
Down-plunge extensions
The Reef and High-Grade Dunite are open at depth and shallow as they plunge to the southwest. Drill hole PS414, the largest step-out, demonstrates increasing grade and a potential thickening of the deposit as the plunge flattens. There is potential to grow the high-grade Reef and High-Grade Dunite Mineral Resource through further drilling targeting down-plunge extensions.
Additional reefs
There is potential for localised zones of mineralisation near the Reef modelled in the Mineral Resource. Drill hole PS291 intersected sulphide-rich mineralisation with significantly less chromite than the majority of the Reef intersections informing the estimate. This style of mineralisation is analogous to the Bushveld system in South Africa, where the sulphide-rich Merensky Reef sits higher in the stratigraphy than the chromite-rich UG2 Reef.
Unassayed drill core
The majority of drill holes included in the Mineral Resource were historically sampled at or immediately adjacent to the upper and lower reef contacts, guided by the visibly obvious chromite-rich layers. Limited sampling was undertaken above and below the reefs by previous operators, despite geological logging recording multiple chromite stringer reefs that remain unassayed and may represent markers for additional PGM mineralisation.
The volume of remaining drill core is finite, which requires a disciplined, staged approach. The Company is assessing the optimal combination of scanning technologies, relogging, targeted sampling and additional analytical work — including rhodium assaying where appropriate — before undertaking further sampling. The approach is designed to maximise the technical information obtained from the remaining core while preserving material for future studies where required.
The Bulk Dunite Extension Zone
Significant mineralised dunite has been intersected outside the current Mineral Resource. The Bulk Dunite Extension Zone has been drilled on widely spaced lines over approximately 250 metres in width and 2.5 kilometres of northeast-southwest strike, with all drill holes returning anomalous PGM 3E, nickel and copper mineralisation. The area represents an exploration opportunity. Further drilling and metallurgical test work are required to evaluate its potential.