Panther Metals plc has received a three-year exploration permit for the North Limb, covering Dotted Lake, of the Schreiber-Hemlo greenstone belt in Ontario.
FINANCING
The company plans a comprehensive work programme on the “highly prospective” intrusive linked nickel-copper-cobalt and platinum group metal target in the northeast of Dotted Lake.
The site lies approximately 16km north of the 23Moz gold Barrick-owned Hemlo mine and south of the historic Geco copper/zinc mine.
Dotted Lake sits upon 2.7 billion year old, Archaean age rocks that form the north-eastern ‘Dotted Lake Arm’ of the Schreiber-Hemlo greenstone belt.
Since acquisition in July 2020, Panther has identified “numerous” gold and base metal targets, gold mineralisation and “anomalous gold continuing along strike and present within the surrounding area”.
A total 138 geophysical anomalies have also been identified, a 1.3km long shear-related gold anomaly delineated, and 18 multi-element anomalies identified including “very strong” nickel in soil.
Panther is currently engaged in three-dimensional inversion modelling of geophysical data.
Chief executive Darren Hazelwood said that the permit had increased the company’s future options and potential for growth.
“All options will naturally be considered, but in the true spirit of exploration, risk capital deserves the opportunity for the greatest return.
“Currently almost no opportunity exists outside of [Canadian junior] GT Resources for anyone else to enter this new district.
“Panther has already constructed a trail on the property and so combined with historic logging roads, the required infrastructure is largely in place.”
Mr Hazelwood added that programme financing discussions were at an advanced stage in Canada.