Panther Metals plc has delineated an electromagnetic plunging conductor with a 500m strike length at its 100% owned Dotted Lake project on the Schreiber-Hemlo greenstone belt in Ontario, Canada.
TARGETS
The “very compelling” target is one of two parallel conductors identified following completion of independent 3D geophysical modelling and interpretation of airborne geophysical survey datasets.
The company said that the results would help drill targeting for nickel, cobalt, copper, gold and platinum group element-bearing sulphide mineralisation in the northeast of the project.
Analysis also identified target zones of “significant structural complexity” with “preferential sites” for the development of mineral deposits.
Panther added that an ultramafic intrusive complex, modelled in 3D, contains the conductor on the northern flank.
Geophysical data processing alone has additionally identified 21 prioritised drilling targets with the highest being directly below or in close lateral proximity to “very anomalous” nickel, cobalt, copper, gold soil results.
Chief executive Darren Hazelwood said there had been “multiple levels” of interest in the project.
“The Dotted Lake project is located in a largely unexplored area on a wider greenstone belt and region that’s a prolific host of numerous mines and known deposits.
“With each additional work stream our confidence in the project increases, both as the geological framework of the area becomes better understood and as we continue to monitor the exploration successes made by others nearby.
“We’ll continue wider discussions on the project but in the meantime, we are focused on drill pad locations and putting the required logistics in place.”
LAVERTON
The company also reported the discovery of “numerous gold nuggets” in Laverton, Western Australia during drill preparations by its investee Panther Metals Ltd.
The finds at the Comet Well and Comet Well South areas include a gold-in-quartz specimen.
The 7,000m drilling programme will cover 10 targets.
Panther Metals holds 18,223,306 shares in the Australia company, representing 7.74% of their total outstanding issued capital.
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