Panther Metals PLC - Isle of Man-based company focused on mineral exploration in Canada and Australia - Commissions soil geochemical survey to uncover gold deposits in the Dotted Lake exploration permit area in Ontario, Canada. The survey will search for extensions of gold mineralisation in the soil near a shear zone between deposits of granodiorite rock and a mafic or ultramafic intrusion uncovered by trenches dug by the previous licence holder. The company feels the soil survey, which commences June 17, will add significant geochemical analysis to its airborne geophysical survey announced in February.
Panther Metals says it will announce details of the drill contract award, for a "reconnaissance diamond drill hole" at Dotted Lake, shortly. The hole will cut across layers of granodiorite and ultramafic rock near historical trenching. Ultramafic rock is a very rare form of igneous rock, some examples of which are associated with diamond deposits.
Current stock price: 13.86 pence, down 1.0% on Tuesday
Year-to-date change: down 7.6%
By Scarlett Butler; scarlettbutler@alliancenews.com
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Panther Metals (PALM)