Panther Metals PLC Drilling Commenced at Dotted Lake
23 Septiembre 2021 - 3:30AM
RNS Non-Regulatory
TIDMPALM
Panther Metals PLC
23 September 2021
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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)
23(rd) September 2021
Dotted Lake - Commencement of Drilling
Panther Metals PLC (LSE:PALM) the company focused on mineral
exploration in Canada and Australia, is pleased to announce all
necessary drilling equipment has been mobilised to our 100% owned
Dotted Lake property in Ontario, Canada. It is expected the drill
hole collar will be set on Thursday morning, with core drilling of
the planned 400m deep hole following on immediately.
Darren Hazelwood, Chief Executive Officer, commented:
"This represents a milestone for Panther Metals and our
shareholders as we commence drilling at Dotted Lake. Our drive for
exploration success is now in full flow with a busy autumn ahead,
not only drilling at Dotted Lake, but also a considerable programme
planned and financed at Wishbone, on the Obonga Greenstone
Belt.
I look forward to updating the market as our projects advance at
the earliest opportunity ".
Drilling Programme Details
The planned drilling at Dotted Lake consists of a single NQ
(47.6mm) core diameter hole (PD-DL21-01) planned at 400m deep,
inclined 45 degrees and orientated directly below a 147 m long,
average 2m deep, historical trench (Tr-10-4 ) excavated during 2010
by a previous claim holder.
The Epiroc C5C Track Diamond Drill rig being utilised will be
operated on a single 12 hour shift per day basis under contract
with Niigaani Drilling Inc. Niigaani are a north western Ontario
indigenous drilling company based in Thunder Bay.
The purpose of the drill hole is to investigate the stratigraphy
in the vicinity of interpreted sheared felsic/ultramafic intrusive
contacts, whilst testing for the vertical extensions of shear
hosted gold mineralisation seen in surface trenching.
The historical trench TR-10-4 which is orientated broadly
north-south, was constructed to investigate gold in soil anomalies
(up to 0.484ppm Au) from earlier soil sampling in 2008. Tr-10-4
intersected two narrow shear zones containing mineralised
granodiorite with up to 10% pyrite, strong sericite alteration and
localised quartz eyes. Limited channel sampling in the sheared
section yielded two significant channel samples including 9.02g/t
Au & 859ppm Zn over 0.40m and 1.14g/t Au over 1.00m.
Significantly significant portions of the trench in the area around
the two mineralised samples were unable to be channel sampled due
to the intense shearing and associated deep weathering. An
additional 2010 prospecting sample from the area of Tr-10-4
reportedly returned 16.95 g/t Au & 7.7 g/t Ag .
Panther chip sampling within Tr-10-4 (reported 5 November 2020)
verified the historical mineralised intervals returning 18.9g/t Au
& 0.94 g/t Ag and 9.37g/t & 1.73 g/t Ag, with a further
three of the samples returning low level anomalous gold within the
immediate stripped area.
The planned PD-DL21-01 drill hole also coincides with an
anomalous magnetic geophysical feature outlined by Panther's
airborne magnetic and electromagnetic geophysics (survey the
results reported 22 February 2021), at the boundary of an intense
magnetic low, mapped as a sheared felsic intrusive pluton (Dotted
Lake Batholith) contact, abutting an intense magnetic high
interpreted to represent an ultramafic intrusive. Mafic volcanic
and metavolcanic rocks of the Hemlo Assemblage outcrop to the north
of Tr-10-4 and the current drill pad.
On a wider scale the drilling site sits upon the northern limb
of the Schreiber-Hemlo Greenstone belt on the northern edge of the
granitoid Dotted Lake Batholith.
About the Dotted Lake Property
The Dotted Lake property consists of a total of 174 contiguous
claims located approximately 18km north-northeast of the
Barrick-owned Hemlo Gold Mine, which has produced over 22 million
oz of gold over 30 years to date. Located on the northern limb of
the Schreiber-Hemlo Greenstone belt the Dotted Lake property covers
7km of the prospective geological contact between the Dotted Lake
Batholith plutonic intrusive and mafic volcanic and metavolcanic
'greenstone' rocks.
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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