TIDMPALM
RNS Number : 3982W
Panther Metals PLC
18 August 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN,
THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES, ANY TERRITORY OR
POSESSION THEREOF OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION.
18 August 2022
PANTHER METALS PLC
("Panther" or the "Company")
(Incorporated in the Isle of Man with company number
009753V)
Admission and Closing of Placing
Panther Metals plc (LSE:PALM) the company focused on mineral
exploration in Canada, announces that an additional 20,872,726
orindary shares of no par value (the "Placing Shares") have today
been admitted to a Standard Listing and to trading on the Main
Market of the London Stock Exchange.
The Placiung Shares have been issue in connection with the
conditional placing of 20,872,726 Placing Shares at a price of 5.5
pence per Placing Share in a placing, raising gross proceeds of
GBP1,148,000 .
Total Voting Rights
The total number of Ordinary Shares in issue on Admission will
be 92,214,065 and this number may be used by Shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the Disclosure Guidance and
Transparency Rules.
- Ends -
For further information please contact:
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
Notes to Editors
Panther Metals PLC is an exploration company listed on the main
market of the London Stock Exchange. Panther is focussed on the
discovery of commercially viable mineral deposits. The Company's
operational focus is on established mining jurisdictions with the
capacity for project scalability. Drill targets are assessed
rapidly utilising a combination of advanced technologies and
extensive geological data to decipher potential commercial
viability and act accordingly. Panther's current geological
portfolio comprises of three highly prospective properties in
Ontario, Canada while the developing investment wing focuses on the
targeting of nickel and gold in Australia.
Obonga Project
Panther acquired the Obonga Project on the Obonga greenstone
belt in July 2021 and have already identified four prospective
primary targets: Wishbone, Awkward, Survey and Ottertooth. A
successful Phase 1 drilling campaign at the Wishbone Prospect in
Autumn 2021 revealed the presence of significant VMS-style
mineralised systems on the property - the first such discovery
across the entire greenstone belt. Drilling intercepts include
27.3m of massive sulphide in hole one, and 51m of
sulphide-dominated mineralisation in hole two. Both drill holes
contained multiple lenses. Anomalous high-grade copper in lake
sediment close to the target area has also been identified,
increasing confidence in the prospectivity of the location.
The Awkward Prospect is a highly anomalous magnetic target,
interpreted to be a layered mafic intrusion and magmatic conduit
based on mapped geology and airborne geophysics. Historic sampling
in the area returned anomalous platinum and palladium (Pt, Pd)
values, while historic drilling on the periphery of the target
intersected non-assayed massive sulphide and copper (assumed to be
chalcopyrite) mineralisation, non-assayed disseminated pyrite and
chalcopyrite in coarse gabbro, and non-assayed 'marble cake' gabbro
(matching the description of the Lac des Iles Mine varitexture
gabbro ore zone).
Two additional named targets, Survey and Ottertooth, both
displays further coincident magnetic and electromagnetic anomalies
and are adjacent to the contact between intrusive and extrusive
mafic rocks. Historic drilling at the Survey Prospect intersected
several meters of massive sulphides in multiple intersections (main
parts of the anomaly remain untested) while the Ottertooth Prospect
remains untested in its entirety.
Dotted Lake Project
Panther acquired the Dotted Lake Project in July 2020, it is
situated approximately 16km north of Barrick Gold's renowned Hemlo
Gold Mine. An extensive soil programme conducted in 2021 identified
numerous gold and base metal targets, all within the same
geological footprint. Following the installation of a new trail
providing direct access to the target location, an initial drilling
programme in Autumn 2021 confirmed the presence of gold
mineralisation within this system with anomalous gold continuing
along strike and present within the surrounding area.
Big Bear Project
The acquisition of various prospects in 2018 and 2019
consolidated previously fragmented areas into the wider Big Bear
Project, priming Panther for extensive and comprehensive
exploration in the area. A total of 253 airborne geophysics survey
anomalies have been identified, with 39 designated for priority
investigation. Gold in soil anomalies have been identified in five
areas, ranging up to 0.71g/t Au and extending up to 250m wide and
open along strike. Gold bearing quartz veins have been outlined
within seven separate areas (two with rock and vein samples grading
1 to 5 g/t Au, four with quartz vein sample assays above 5g/t Au,
and two quartz samples collected at 50m separation on an E-W
trending vein open in both directions returning 105.5g/t Au and
112g/t Au respectively).
The Little Bear Lake and Schreiber prospects are of particular
interest to the company: historic work programmes in 2010 and 2011
targeted an intense magnetic response from both. Assays yielded
from the 1.6km long gold trend included 6m at 1.5g/t Au, up to
53.7g/t Au and 19.25 g/t Ag in rock chip and 18.2g/t Au and 1.03g/t
Ag in soil. Historical bulk sampling reported 150t averaging
17.6g/t Au, while historical drill intersections include 0.55m at
19.2% Zn and 4.6% Cu from 15.2m depth.
Panther Metals Australia
Following the listing of Panther Metals' Australian assets on
the Australian Securities Exchange ("ASX") in December 2021, the
valuation of the Company's 36.6% holding in the business has risen
by over 30% to a valuation of almost GBP3M. The ASX listing has
provided the Australian projects with the necessary capital to
advance drill-ready targets focused on nickel and gold (within the
Tier 1 Mining Districts of Laverton WA and in the NT). Through this
spin-out Panther holds an attractive investment prospect, without
any disruption to the Company's capital structure and without any
financial obligations.
Conclusion
Panther understand that the commercial realities of building an
exploration company requires expertise in geology, finance, and the
markets within which they operate. The Company's extensive network
of industry leaders allows it to meet these objectives. Ultimately
however, drilling success is the only route to discovery: the
fundamental objective of any exploration company. Once Panther's
world-class geological team identify the anomalies, they work hard
to get drilling. The drill hole is the only place where substantial
and sustained capital growth originates and it's with that
operational focus Panther will continue to advance.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IOESFWEEWEESEFA
(END) Dow Jones Newswires
August 18, 2022 03:02 ET (07:02 GMT)
Panther Metals (LSE:PALM)
Gráfica de Acción Histórica
De Oct 2023 a Nov 2023
Panther Metals (LSE:PALM)
Gráfica de Acción Histórica
De Nov 2022 a Nov 2023
