(Alliance News) - Panther Metals PLC on Friday said that it has commissioned a high resolution airborne magnetic geophysics survey at its Obonga project in Ontario, Canada.
According to Panther, which is an investor in and acquirer of companies within the natural resource sector, the survey will be carried out by Pioneer Exploration Consultants Ltd over three prospect areas. These are Wishbone, Survey and Ottertooth.
"It's a stunning achievement by our team to discover two previously unknown VMS systems on Obonga, from a total of only six holes drilled. We must now start to move into the ore discovery phase of work," said Chief Executive Officer Darren Hazelwood.
"Pioneer Exploration Consultants are due on site to commence the three drone based geophysics surveys at the start of June with results expected in short order. Obonga holds the potential to become the next VMS camp in Canada. The important data products and 3D models will help us to refine the drill hole orientations with a view to intersecting the high-grade zones within the targeted VMS systems."
Shares in Panther Metals closed 0.4% higher at 4.77 pence each in London on Friday.
By Holly Beveridge, Alliance News reporter
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Panther Metals (PALM)