Elemental Royalties

Elemental acquired a 0.5% NSR royalty on the Panton Sill project in Feb 2017. Annual revenues cannot be estimated as the project is at a feasibility stage.

The Panton Sill project was purchased by Panoramic Resources Ltd (ASX: PAN) from Platinum Australia Limited in 2012, after which Future Metals NL (ASX: FME) acquired the project in June 2021. Panton is located is located about 60km north of Halls Creek, adjacent to the Great Northern Highway in the East Kimberley region of Western Australia. The project has a Resource of 14.3Mt at 2.19g/t Pt, 2.39g/t Pd, 0.31g/t Au (~2Moz contained Pt+Pd) and consists of high grade platinum and palladium mineralisation within a number of stratiform reefs.

The Panton intrusive is a layered mafic to ultramafic body that has been folded into a south westerly plunging structure some 10km long and 3km wide with high grade PGM mineralisation hosted within a number of stratiform chromite reefs within the sequence.

It is estimated that production will begin in 2020-25, with 600ktpa of ore produced for 12yrs, resulting in annual metal production of 83kOz for three metals.

Exploration Potential

Sustained palladium price increases have increased the value of the Panton ore, leading the previous operator, Panoramic Resources Ltd, to fund investigations of processing options, as well as considering sorting technologies to better obtain value from the chromite.

For further information please visit the Future Metals website.

Unless otherwise noted, the disclosure contained on this website of a scientific or technical nature for the Panton project is based on Panoramic Resources Ltd.’s ASX announcements dated September 30, 2015, titled “Mineral Resources and Ore Reserves at June 30, 2015”, The ASX announcement is prepared in accordance with the JORC Code and is available on Panoramic’s website at https://panoramicresources.com/asx-announcements/.
Mineral Reserves are included in Mineral Resources.
Information contained on this website with respect to each of the royalties has been prepared in accordance with the exemption set forth in section 9.2 of NI 43-101. Richard Evans, FAusIMM, is Senior Vice President, Technical for the Company and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure.
Certain Resource and Reserve estimates covering properties related to certain mining assets in this website have been prepared in reliance upon the JORC Code. Estimates based on JORC Code are recognized under NI 43-101 in certain circumstances. In each case, the Mineral Resources and Mineral Reserves included in this website are based on estimates previously disclosed by the relevant property owner or operator, without reference to the underlying data used to calculate the estimates. Accordingly, the Company is not able to reconcile the Resource and Reserve estimates prepared in reliance on JORC Code with that of CIM definitions. The Company previously sought confirmation from its Qualified Person who is experienced in the preparation of Resource and Reserve estimates using CIM and JORC Code, of the extent to which an estimate prepared under JORC Code would differ from that prepared under CIM definitions. The Company was advised that, while the CIM definitions are not identical to those of JORC Code, the Resource and Reserve definitions and categories are substantively the same as the CIM definitions mandated in NI 43-101 and will typically result in reporting of substantially similar Reserve and Resource estimates.