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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 OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
PANTHER METALS
PLC
("Panther" or
the "Company")
(Incorporated in the Isle of
Man with company number 009753V)
27 September 2024
Fulcrum Metals: Further
Subscription to Raise circa £130,000
Panther Metals PLC (LSE:PALM) the
company focused on mineral exploration in Canada, notes the Fulcrum
Metals PLC ("Fulcrum", LON: FMET) announcement of a further
subscription of 1,625,000 new ordinary shares of nominal value 1
pence each ("Ordinary Shares") in the capital of Fulcrum (the
"Subscription"; "Subscription Shares") at a price of 8 pence per
Subscription Share raising Fulcrum £130,000 before expenses. The
Subscription is in addition to Fulcrum's previously announced
capital raise on 13 September 2024.
Panther currently holds a total of
7,625,122 Ordinary Shares in Fulcrum, which shall represent a
12.38% interest in the enlarged issued share capital of Fulcrum
following the issue and admission to trading on AIM, the market of
that name operated by London Stock Exchange PLC of the Subscription
Shares, plus 714,286 warrants exercisable into one new Ordinary
Share each at 17.5 pence each with a two-year life from 14 February
2023 and a further 476,190 warrants exercisable into one new
Ordinary Share each at 26.25 pence each with a three-year life from
14 February 2023. Panther also retains a 2% net smelter return
(NSR) royalty over the Big Bear Project.
Further information is available in
the full Fulcrum RNS announcement which is available at:
https://fulcrummetals.com/news/
For further information please
contact:
Panther Metals PLC:
Darren Hazelwood, Chief Executive
Officer:
+44(0) 1462 429 743
+44(0) 7971 957 685
Brokers:
Tavira Financial
Limited
Christopher James
Kipling
+44(0) 203 833 3743
SI Capital Limited
Nick
Emerson
+44(0) 1438 416 500
Axis Capital Markets
Limited
Ben Tadd
Lewis
Jones
+44 (0)20 3026 0449
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 Metals acquired the Obonga
Greenstone Belt in July 2021 and have already identified five
prospective primary targets: Wishbone, Awkward, Survey, Ottertooth
and Silver Rim. A successful Phase 1 drilling campaign at Wishbone
in Autumn 2021 revealed the presence of significant VMS-style
mineralised systems on the property - the first such discovery
across the entire greenstone belt. 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.
Awkward 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), 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 Survey
intersected several meters of massive sulphides in multiple
intersections (main parts of the anomaly remain untested) while
Ottertooth remains untested in its entirety.
Dotted Lake Project
Panther Metals acquired the Dotted
Lake Project in July 2020, it is situated approximately 16km from
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.
Fulcrum Metals plc
Fulcrum Metals plc (LON: FMET) is an AIM-listed
exploration company which finances and manages exploration projects
focused on Canada, widely recognised as a top mining
jurisdiction.
FMET currently holds a beneficial 100% interest
in highly prospective gold and base metals projects in Ontario and
Uranium projects in Saskatchewan.
Fulcrum's strategy is to focus on discovery and
commercialisation of its Projects through targeted exploration
programmes. The primary focus is to make an economic discovery on
the flagship Schreiber-Hemlo Properties and establishing the
prospectivity of its wider Ontario and Saskatchewan portfolio with
a view to securing potential joint venture and/or acquisition
interest.
Panther Metals Australia
Panther Metals' Australian assets
were listed on the Australian Securities Exchange ("ASX") in
December 2021. 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 Metals 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
Metals will continue to advance.
