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(Alliance News) - Panther Metals PLC on Tuesday said it had submitted an exploration permit application on a project in Canada.
Shares in Panther Metals, the Isle of Man-based investor in and acquirer of companies within the natural resource sector, were at 3.50 pence each on Tuesday.
Panther Metals said the application was for additional drilling on the Awkward Prospect at the company's Obonga project on the Obonga greenstone belt in northern Ontario.
The application covers a planned series of up to 31 diamond core drill pads and associated down-hole and surface geophysics surveys spread across the Awkward East application area on the eastern side of the Obonga project, the company said.
Chief Executive Darren Hazelwood said the drilling application would allow "us to build our understanding and develop the graphite potential in the area and I look forward to updating the market in due course."
By Jeremy Cutler, Alliance News reporter
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