(Alliance News) - Gold explorer Panthera Resources PLC said Tuesday it has found "exceptionally" high-grade gold in soil anomalies from the recently completed sampling programme at its Bido project in Burkina Faso.
The survey completed with 1,166 soil samples collected on lines 200 metres apart with samples every 50 metres along lines, together with assays. This means the sample spacing was broad at 200 metres by 50 metres, and some narrow but high-grade veins may have been missed, Panthera explained.
Among the soil assays, samples included 26,500 parts per billion gold, or 26.5 grammes per tonne, and 16,700 parts per billion gold, or 16.7 grammes per tonne.
Panthera said the survey also identified a northwest-trending zone about 2,500 metres long that is contourable at 32 parts per billion gold with a 1,600 metre core area that is contourable at 64 parts per billion gold.
Managing Director Mark Bolton said: "The survey results are excellent and confirm that this area has the potential for high-grade mineralisation.
"The next stage of work will involve infilling gold in soil sampling of some of the better anomalies, detailed geological mapping and rock chip sampling, and possibly some trenching and geophysics. Subject to these results, we anticipate a drilling programme mid-2021."
Shares in Panthera Resources were 3.8% higher in London on Tuesday mid-morning at 24.70 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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Panthera Res. (PAT)