Panther Metals PLC - Canada-focused mineral exploration company - Completes the first phase of its diamond drilling programme at the Obonga project in Ontario, with 9 drill holes finished over a total of 1,500 metres drilled. The Obonga programme began on October 25 to target multiple high priority electromagnetic and magnetic geophysical anomalies prospective for volcanogenic massive sulphide hosted copper base metal mineralisation and intrusion hosted nickel, platinum and palladium.
"With the onset of freezing temperatures and heavy snowfall Panther made the decision to curtail the drilling whilst there was still a window to safely demobilise the heavy equipment and personnel from the staging area, so the Ottertooth and Silver Rim prospects will now be scheduled for drilling next year. The drill core is now being processed and we look forward to reporting on the results in due course," Chief Executive Darren Hazelwood says.
Current stock price: 5.17 pence, down 2.5% in London on Thursday afternoon
12-month change: down 58%
By Heather Rydings; heatherrydings@alliancenews.com
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Panther Metals (PALM)