Panther Metals plc confirmed gold mineralisation from four of five inaugural diamond drilled holes at the Glass Reef target in Manitou Lakes, Ontario.
BREAKTHROUGH
The drilling programme was a follow‐up on the “widespread” anomalous gold-in-soil and rock sampling values in Panther’s geochemical survey over the historical Glass Reef mine area.
The company said that there were more than 200 known gold occurrences in the Manitou Lakes area and numerous historic gold producers in the Eagle – Manitou Lakes greenstone belt, prospective for Archean age orogenic gold and base metals.
Chief executive Darren Hazelwood added: “The Glass Reef drill programme has confirmed the presence of schist/shear zone hosted gold, a breakthrough for the team and project.
“With 80% of the shallow holes intersecting gold, we have a foundation as we now work towards understanding the structural and lithological controls to the gold mineralisation.
“The area is witnessing an incredible amount of exploration in a previously underexplored location and every result increases the wider understanding of the geology.
“To be right at the heart of this gold rush with a project that contains anomalous gold is exciting for any explorer.”
Panther has an option agreement for 100% of Manitou Lakes which comprises Glass Reef, West Limb and Catwill prospects over approximately 123.4km2 acquired in April 2022.