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Panther Metals PLC - Hertfordshire, England-based mineral exploration company that operates in Canada and Australia - Completes initial exploration programmes on the Merolia gold project in Australia. Programmes include a 5,867 kilometres airborne geophysical survey, as well as high resolution survey - including the collection of magnetic, radiometric and elevation data on a 50 metres line spacing and flight altitude of 35m.
"Our understanding of the opportunities that present themselves in Australia has expanded significantly and the raw data from the airborne geophysical programme over the Merolia gold project, in particular, adds to our confidence in the project," notes Chief Executive Officer Darren Hazelwood.
"In addition to the gold potential evident across the project area, a significant nickel-cobalt target has been identified in the southern part of our licence holdings at Merolia. This target zone is particularly evident in the latest airborne geophysical data, where it is marked by a significant magnetic high covering an area of at least 7.5 by 2 km," Hazelwood adds.
Current stock price: 11.45 pence, up 6.5% on Tuesday
Year-to-date change:down 24%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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