Panther Metals PLC - mineral exploration in Canada - Says its subsidiary Panther Metals Ltd has started the second round of drilling at Burtville East gold project. Says the programme will include both reverse circulation and diamond core, which is designed to follow up on shallow high-grade gold intercepts. Earlier this month, the company noted that results from hole BVE006 found 1 metre at 79.90 grams per tonne gold from 27 metres and 1 metre at 478.00 grams per tonne from 28 metres.
Chief Executive Officer Darren Hazelwood says: "The recent discovery of wide shallow high-grade gold intercepts in RC drilling at Burtville East was a significant development for Panther Australia. This follow-up diamond core and reverse circulation drill programme will provide important stratigraphic, structural and strike extent data helping to delineate and build on the known lode gold mineralisation at Burtville East."
Panther Metals says Phase 1 of the follow-up programme will target the high-grade gold intercepted in hole BVE006 and test for the existence of parallel lodes to the mineralising system, while Phase 2’s reverse circulation drilling will test the lateral strike extent of the gold mineralisation already intersected.
Panther Metals PLC holds a 37% stake in Panther Metals Ltd.
Current stock price: 6.64 pence, down 0.2%
12-month change: down 45%
By Xindi Wei; xindiwei@alliancenews.com
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Panther Metals (PALM)