Panther Metals plc has confirmed a 1.2km long open-ended gold trend from diamond drilling at Dotted Lake on the north limb of the Schreiber-Hemlo greenstone belt in Ontario, Canada.
CORRELATION
The company’s first phase I drill core assays also showed an intersection of “high grade zinc/gold volcanogenic massive sulphide-style mineralisation”.
Drill hole DL24-001 returned “highly anomalous gold, silver, zinc and base metal” assays at target D on the southern shore of Lampson Lake.
Other downhole intersections include 4.5 metres at 0.64g/t gold from156.3m, including 0.9m at 1.55g/t gold, 1.4g/t silver and 2.08% zinc from 156.3m.
Additional zinc intersections comprise 5.5m at 1.21% zinc from 155.3m including 2.7m at 2.42% zinc from 155.3m and one metre at 3.8% zinc from 155.3m.
Panther said that the intersections in DL24-001 correlated with an open-ended 750m long gold in-soil anomaly.
The anomaly is offset from the western end of the 1.2km gold-in-soil anomaly which extends westwards from Panther’s 2021 drill hole which intersected more than nine separate gold intervals.
The drilling programme is now on hold with the rig remaining on site pending further assays.
Chief executive Darren Hazelwood added that the results were only surface glimpses of the potential of the large undisturbed mineralised system beneath the overburden of Dotted Lake.
“The assay results from the first of five drill holes, have confirmed our greatest hopes and theories: gold over a widening area, and a VMS system containing high grade zinc and gold optimally located between the Geco VMS mine to the north and Barrick’s Hemlo gold mine to the south.
“Discussions are underway with our project partners and we look forward to providing further updates regarding plans to utilise the frozen ground of winter and the drill rig on site as we accelerate this project.”