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Panther Metals PLC - Canada-focused mineral exploration company - Announces updated graphite assay results for drill hole BBR22_AW-P1-1, based on additional samples targeting crystalline graphite at the Awkward prospect in its Obonga project, northwest Ontario. Results extend downhole intersection to 27.2 metres at 2.25% total graphitic carbon between 12 metres and 43.3 metres downhole. Company says historic data review notes graphite at surface and abundant in some units within the wider exploration area.
"It is important we are cautious at this time due to the potential scale but graphite is known to be abundant in the Obonga area," comments Chief Executive Officer Barren Hazelwood. "Any graphite discovery in a major mining jurisdiction is significant, but one at surface, with substantial scale potential and within trucking distance of a major port, offers outstanding potential."
Current stock price: 4.50 pence, up 20% on Thursday morning in London
12-month change: down 7.2%
By Emma Curzon, Alliance News reporter
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