(Alliance News) - Panther Metals PLC on Friday said that it has bought 171 additional mining claims that are directly contiguous to the Obonga Project in north-western Ontario, Canada.
Panther Metals is a Canada and Australia-focused mineral exploration company.
The firm acquired the 171 single-cell mining claims, covering an area of approximately 3,420 hectares, through direct staking. The claims have a renewal date of February 1, 2025, and are directly contiguous to the Obonga Project claims, which Panther said may facilitate assessment work credit distributions.
"Being contiguous with our existing land package on Obonga is significant as spend commitments can be assigned across the entire greenstone belt," said Chief Executive Officer Darren Hazelwood.
He added: "We continue to strengthen our position on Obonga following our successful multi-site drilling programme that enhanced our understanding and strengthened our belief in this greenstone belt. Panther Metals remain extremely active as we position the business to take full advantage of an increasingly prospective portfolio of assets based in a province built on mining."
Panther Metals shares were trading 0.6% higher at 3.42 pence each in London on Friday afternoon.
By Holly Beveridge, Alliance News reporter
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Panther Metals (PALM)