(Alliance News) - Panthera Resources PLC announced on Thursday that it had completed its drilling at its Mali-based gold drilling project and another drilling programme has begun at an alternate site.
The London-based gold exploration and development company said it had completed its 2,437 metre drilling at its Kalaka Project in Mali. Panthera said five targets were tested at the project and a further two were partially tested, finding strong iron oxide.
Kalaka is held by Panthera's associated company, Moydow Holdings. Following the acquisition of Moydow by Diamond Fields Resources Inc in August, Panthera holds a 50% interest in and operates the project.
Panthera also announced that a 9,000 metre drilling project at its Bassala project in Mali had begun. The programme will drill the nine remaining targets at Bassala and its initial results from the drill are expected in January.
Managing Director Mark Bolton said: "The combination of shallow [air core] drilling targeting chargeability anomalies continues to be an excellent targeting tool at our West African projects, with strong alteration intersected at all targets tested by the recent Kalaka programme. Assay results are eagerly awaited and should be available later in December 2021.
"Drilling has now re-commenced at the Bassala project, where ore grade intersections were returned from the previous drilling programme in July 2021. We are now testing the remaining targets that include the most intense artisanal workings in the project area as well as testing extensions to the more significant drilling results from earlier in the year."
Shares in Panthera were down 1% at 14.25 pence on Thursday in London.
By Heather Rydings; heatherrydings@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Panthera Res. (PAT)