TIDMPALM
Panther Metals PLC
15 June 2021
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 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)
15 June 2021
Completion of Geophysical Data Processing and Initial
Targeting
Panther Metals PLC (LSE:PALM) the company focused on mineral
exploration in Canada and Australia, is pleased to announce, the
completion of data processing from its airborne geophysical
programmes on its 100%-owned projects in Western Australia and the
Northern Territory.
Darren Hazelwood, Chief Executive Officer, commented:
"The completion of our airborne geophysical programmes in
Western Australia and the Northern Territory marked an important
point in the development of our Australian portfolio. Going a step
further, we have now integrated our high-resolution geophysical
data coverage with other open-file data across our regions of
operation, providing us with a unique tool for further exploration,
enabling contextual exploration targeting across our licence areas.
This represents a cornerstone to our exploration strategy, which
builds datasets systematically to improve on our ability to
complete successful targeting and field follow-up."
Summary of Geophysical Programmes
The 5,867 line-km airborne geophysical survey over the Merolia
Gold Project area, in Western Australia, was completed by Thomson
Airborne Pty Ltd. The high resolution survey, involving the
collection of magnetic, radiometric and elevation data on a 50m
line spacing and at a nominal flight altitude of 35m above ground,
utilised a conventional fixed-wing platform. This data has been
integrated with other regional high-resolution datasets to assist
with exploration targeting (Figure 1).
https://www.panthermetals.co.uk/images/2021/06/14/meriola-total-magnetic-intensity.jpg
Figure 1: Geophysical map of the Laverton area, WA, showing the
Total Magnetic Intensity (TMI), reduced to pole. This map was
produced following the compilation, stitching and processing of all
open-file data available for the region and included the
high-resolution geophysical data recently obtained by the company
over its over its Merolia Project.
The 1,715 line-km airborne geophysical survey over the
Annaburroo and Marrakai gold project areas in the Northern
Territory was also completed by Thomson Airborne Pty Ltd. The high
resolution survey, involving the collection of magnetic,
radiometric and elevation data on a 50m line spacing and at a
nominal flight altitude of 35m above ground, utilised a
conventional fixed-wing platform. This data has been integrated
with other regional high-resolution datasets to assist with
exploration targeting (Figure 2).
https://www.panthermetals.co.uk/images/2021/06/14/northern-territory-total-magnetic-intensity.jpg
Figure 2: Geophysical map of the Mount Bundey area, NT, showing
the Total Magnetic Intensity (TMI), reduced to pole. This map was
produced following the compilation, stitching and processing of all
open-file data available for the region and included the
high-resolution geophysical data recently obtained by the company
over its Annaburroo and Marrakai projects.
Panther engaged geophysical consultants, Core Geophysics, to
undertake the raw data processing and to stitch the resultant
outputs with other regional datasets. The full suite of derivative
geophysical data products will be utilised to guide the exploration
targeting process, with Panther expecting to mobilise for an
initial reverse circulation ("RC") drilling programme to test
certain target areas.
Significance of Recent Exploration Results
In parallel with the geophysical survey over the Merolia
Project, Panther also completed an extensive auger drill
geochemistry programme within tenement E38/3384. This programme
covered a large part of the south-eastern extension of the Comet
Well Gold trend from which significant gold anomalism in soil was
previously identified over at least 2.5km of strike.
Sampling comprised of 827 auger soils holes, with samples
analysed by ALS Ionic Leach for gold and 60 other elements. One
anomalous gold target in the central area (40 Mile Camp) and one
open gold target defined in the north (near Comet Well) were
defined. Elements associated with alteration support the gold
anomaly with other elements showing negative response, representing
a zone of iron depletion.
Importantly, the 40 Mile Camp anomaly is coincident with a
series of distinct arcuate geophysical anomalies, which may
represent folded units within the Archaen greenstones (Figure 3).
Depending on the nature of this structure, this could increase the
potential of the 40 Mile Camp geochemical anomaly. The Company is
expecting to mobilise a structural geologist to site to assist with
the definition and characterisation of this structure.
https://www.panthermetals.co.uk/images/2021/06/14/auger-results-2021-meriola.jpg
Figure 3: Geophysical map of part of the Merolia Project area,
WA, showing the First Vertical Derivative of the Total Magnetic
Intensity (TMI), reduced to pole. This shows a pronounced target
comprising several arcuate anomalies exactly coincident with the 40
Mile Camp geochemical anomaly.
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
Brokers:
SI Capital Limited
Nick Emerson +44(0) 1438 416 500
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. 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.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
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
NRADZGMVVDLGMZM
(END) Dow Jones Newswires
June 15, 2021 02:00 ET (06:00 GMT)
Panther Metals (LSE:PALM)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Panther Metals (LSE:PALM)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
