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PANTHER METALS
PLC
("Panther" or the "Company")
(Incorporated in the Isle of
Man with company number 009753V)
8 October 2024
Australia: Gold Discovered
Pre-Drilling at Laverton
Panther Metals PLC (LSE: PALM) the
company focused on mineral exploration in Canada,
is pleased to note the Panther
Metals Ltd ("Panther Australia", ASX:PNT) Australian Securities
Exchange announcement providing an update on gold nugget
discoveries during drill preparations for a 7,000m drill programme
covering 10 targets at their Laverton Gold Project in Western
Australia.
Panther Metals Plc holds 18,223,306
shares in Panther Metals Ltd, representing 7.74% of their total
outstanding issued capital.
Panther Australia Highlights:
·
Numerous gold nuggets have been discovered at the
Comet Well and Comet Well South project areas; finds included a
gold in quartz specimen.
·
Initial discoveries were made during drilling
preparations; subsequent metal detecting activities in close
proximity to the upcoming drill areas discovered more gold
nuggets.
·
Additional metal detecting is ongoing over the two
project areas.
·
Assays have now been submitted for Burtville East;
this latest drill programme planned to follow up on Panther
Australia's 600m reverse circulation drill programme in 2022, which
included best intercepts of:
o BVE006: 15m @ 53.94g/t Au from 27m, including 1m at 478g/t
from 28m (visible gold was panned from the drill hole cuttings of
BVE006 (see ASX:PNT release 14 July 2022);
o BVE009: 10m @ 7.15g/t Au from 84m, inc. 1m at 62.80g/t Au from
91m; and
o BVE002: 1m @ 73.3g/t Au from 93m.
·
The current drill programme is based on a
comprehensive targeting study completed by Panther Australia on the
Laverton Gold Project; it covers 10 targets for 7,000m of drilling
over 35km of continuous strike (see ASX:PNT release 22 August,
2024).
Daniel Tuffin, Panther Australia Managing Director and CEO,
commented:
"We are excited to announce the discovery of gold nuggets at
Comet Well and Comet Well South. The finds were initially made
during drill preparations and are highlighted by a very encouraging
gold in quartz specimen.
These finds underscore the highly under-explored gold-rich
potential of the greater Laverton Gold Project area and the
effectiveness of our exploration strategies.
Additionally, assays have now been submitted for Burtville
East, where drilling in 2022 returned bonanza gold grades,
including a best intercept of 15m at 53.94g/t Au from 27m, and
discovered three new gold lodes.
This is a very positive beginning to the start of our 7,000m
drill programme. With nine further targets remaining to drill at
the Laverton Gold Project, we look forward to updating the market
of our progress as exploration continues."
Please visit www.panthermetals.com.au
for the entire
ASX announcement including photographs and maps.
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.
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 Plc own 12.38% of the
issued share capital of Fulcrum Metals Plc and a 2% NSR on the Big
Bear project.
Panther Metals Australia
Following the listing of Panther
Metals' Australian assets 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.
