TIDMPALM
RNS Number : 7271R
Panther Metals PLC
09 November 2021
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FOR IMMEDIATE RELEASE
PANTHER METALS PLC
("Panther" or the "Company")
(Incorporated in the Isle of Man with company number
009753V)
9(th) November 2021
Dotted Lake - Soil Sampling Survey Results
Panther Metals PLC (LSE:PALM) the company focused on mineral
exploration in Canada and Australia, is pleased to announce the
findings of the geochemical soil sampling programme undertaken on
the Dotted Lake property in Ontario, Canada.
Darren Hazelwood, Chief Executive Officer, commented:
"Following a comprehensive analysis of the Dotted Lake soil
assay data which followed on from the geochemical sampling
programme undertaken this summer, we have succeeded in delineating
a 1.3km long shear-related gold anomaly which trends westward from
the 18.9g/t Au sample Panther obtained from a historical trench and
westward from the site of Panther's Dotted Lake drill hole.
In addition, a further four distinct gold anomalies associated
with interpreted intrusive contacts, or other structural features,
have been identified as well as a total 18 multi-element anomalies
which may provide exploration vectors towards orogenic style gold
deposits.
Whilst we wait for the core from Panther's Dotted Lake diamond
drill hole to be assayed, we are planning a work programme to
follow-up on these exciting findings, and we look forward to
sharing more information in due course".
Soil Survey Anomalies
A detailed analysis of the soil sample assay data has yielded a
number of stand-out gold anomalies and high priority targets for
follow-up work. In addition to the gold anomalies, a further seven
element groupings, which provide vectors towards orogenic style
gold mineralisation (the "Vector-Elements"), have been flagged for
further investigation including anomalies associated with As, Cu,
Hg, Pb, Zn, W, Te, Ag and Sb.
A map which will help with the visualisation of the soil survey
results is available to view at:
https://www.panthermetals.co.uk/images/2021/PALM_Dotted_Soil_Map.jpg
The five high priority gold anomalies consist of:
-- Anomaly A : 1.3km long gold in soil anomaly coincident with
the course of a shear zone as outlined by Panther's airborne
geophysics survey results and as intersected in historical trench
Tr-10-4. This high priority gold anomaly trends due WSW of Tr-10-4
which intersected gold up to 18.9g/t Au, and also intersects Target
3 (four Vector-Element targets which have been identified for
further investigation). The eastern end of this anomaly is being
tested at depth by Panther's diamond drilling, assay results will
be reported once they are available.
-- Anomaly B : 600m long linear gold anomaly, approximately 170m
to the north and broadly parallel with the western extent of
Anomaly A. This forms the southern edge or a magnetic-high ridge
feature.
-- Anomaly C : 350m by 200m gold anomaly coincident with a
granitic intrusive contact and a magnetic body as identified by the
geophysics survey. Centred 280m to the south of Anomaly A.
-- Anomaly D : 250m long N-S trending gold anomaly coincident
with multi-element anomalies and a magnetic feature interpreted to
represent either a dyke or fault.
-- Anomaly E : 560m long linear gold in soil anomaly striking
WNW, located 220m to the north of Anomaly A. This feature may
represent a fault off-set of Anomaly B which is to the west.
A total 18 Vector-Element targets have been identified for
further investigation, the highest ranked form three additional
stand-alone targets for investigation:
-- Target 1 : The highest ranked multi-element target coincides
with anomalous gold and a magnetic high feature. Coincident
anomalies for seven Vector-Elements including Au, As, Cu, Hg Pb, Zn
and Sb. Located in the south-west quadrant of the survey area.
-- Target 2 : Consists of six distinct Vector-Element anomalies
which intersect either gold Anomaly A or Anomaly B and which
coincide with perceived structural intersections as identified from
geophysics data.
-- Target 3 : A collection of four (either 4 or 5)
Vector-Element anomalies which fall upon or adjacent to gold
Anomaly A.
Follow-up work is currently being planned, this may include
ground prospecting, possible trenching, ground geophysics and
further drilling.
Soil Survey Programme Details
The soil geochemistry sampling programme consisted of a total
480 samples collected over a 1.60km by 0.85km target on a nominal
25m by 100m sample spacing, with survey lines orientated
perpendicular to the perceived structural strike of the area. At
each sample stage a description of the sample media and perceived
soil horizon was recorded.
Sample analysis for a suite of 53 elements was undertaken by ALS
Laboratories (Vancouver) using the ME-MS41L Multi-Element Super
Trace method which is considered ideal for exploration in soils or
sediments.
In this method a 0.5g sample is digested in aqua regia and
analysed via ICP-MS and ICP-AES. The prepared sample is digested
with 75% aqua regia (3:1 ratio of HCl:HNO3) in a graphite heating
block.
The survey area coincides with the Dotted Lake Exploration
Permit area (award announced 4 May 2021). The sample collection
work was undertaken by Fladgate Exploration Consulting Corporation
who are an experienced exploration services company based in the
local city of Thunder Bay.
The soil geochemistry survey was designed to build out and
in-fill the westerly strike extensions of high-grade gold
mineralisation intersected by historical trenching undertaken by a
previous licence holder in 2010 (Tr-10-4) and as confirmed during
Panther's reconnaissance sampling (gold up to 18.9g/t Au) announced
5 November 2020.
The soil survey provides important geochemical coverage of
target structures outlined by Panther's airborne geophysical survey
(announced 22 February 2021).
The geology of the target area consists of volcanosedimentary
units in contact with a granodiorite hosted mineralised shear in
the vicinity of a mafic/ultramafic intrusive body.
Competent Person Statement
Technical information in this announcement has been reviewed by
Nicholas O'Reilly BSc (Hons) MSc DIC MAusIMM MIMMM FGS, a
non-executive director of the Company. Mr O'Reilly is principal
geologist and a director of Mining Analyst Consulting Ltd. He has
over 16 years' experience in mining, exploration and development
across all major commodities. As a qualified geologist, he can act
as Competent Person for JORC Code and AIM rules.
The person who arranged for the release of this information is
Darren Hazelwood, the Company's Chief Executive Officer.
Panther Metals PLC:
Darren Hazelwood, Chief Executive Officer: +44(0) 1462 429 743
+44(0) 7971 957 685
Mitchell Smith, Chief Operating Officer: +1(604) 209 6678
Broker:
SI Capital Limited
Nick Emerson +44(0) 1438 416 500
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