Panther Metals PLC - company focused on mineral exploration in Canada and Australia - Says on Tuesday that it has completed airborne geophysical surveys of its Merolia, Annaburroo and Marrakai gold projects in Australia to set exploration targets. Thomson Airborne Pty Ltd undertook a 5,867 line kilometre survey over the Merolia Gold Project in Western Australia and a further 1,715 line kilometre survey at the Annaburroo and Marrakai gold projects in the Northern Territory. The survey collected magnetic, radiometric and elevation data on a 50 metre line spacing from a nominal flight altitude of 35 metres above ground. Geophysical consultants, Core Geophysics, will process the raw data and connect the resulting outputs with other regional datasets. Says data from the surveys will be used to set exploration targets for the three gold projects.
Chief Executive Darren Hazelwood, says: "The completion of our airborne geophysical programmes in Western Australia and the Northern Territory marked an important point in the development of our Australian portfolio. Going a step further, we have now integrated our high-resolution geophysical data coverage with other open-file data across our regions of operation, providing us with a unique tool for further exploration, enabling contextual exploration targeting across our licence areas. This represents a cornerstone to our exploration strategy, which builds datasets systematically to improve on our ability to complete successful targeting and field follow-up."
Says it has also completed sampling of 827 soils holes at tenement E38/3384, extending over a large part of the south-eastern extension of the Comet Well Gold trend near Karratha in Western Australia. The results were then analysed by ALS Ionic Leach for gold and 60 other elements, which helped to define gold targets in the area.
Current stock price: 14.00 pence
Year-to-date change: down 6.7%
By Scarlett Butler; scarlettbutler@alliancenews.com
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Panther Metals (PALM)