RNS27 Sep 2023 09:22
FOR IMMEDIATE RELEASE
PANTHER METALS PLC
("Panther" or the "Company")
(Incorporated in the Isle of Man with company number 009753V)
27 September 2023
Manitou Lakes: Additional Mining Claims Staked
Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada is pleased to announce the acquisition by staking of 19 additional single cell mining claims ("Claims"), covering circa 415 hectares (4.15km2). The Claims comprise two blocks of ground, the Scattergood Lake block and Beaverhead Island block, that are directly contiguous to the Manitou Lakes Project ("Manitou Lakes" or the "Project") and which provide additional coverage of exploration ground considered highly prospective for gold.
Manitou Lakes covers a total area of approximately 102km2 and is located within the gold endowed Kenora Mining District on the Eagle - Manitou Lakes Greenstone Belt, approximately 300km east of the city of Thunder Bay.
The Scattergood Lake block ("Scattergood") comprises 12 claims covering circa 250 hectares located over the northeastern end of a 6km gold bearing structural feature which is now entirely enclosed by Manitou Lakes project area. The southern edge of the Scattergood block is also approximately 500m north of a new neighbouring gold occurrence discovered by local prospectors during 2022.
The Beaverhead Island block ("Beaverhead") comprises 7 claims covering circa 165 hectares on the southerly extent of Beaverhead Island on Manitou Lake where historical reconnaissance sampling work in 1984-1985 by Cochrane Oil and Gas Ltd ("Cochrane"), outlined highly anomalous gold-in-rock geochemical values ranging up to 1,000 ppb Au across a 50m wide carbonatised and sericitised section of schist zone on the southern tip of the island. Cochrane also outlined a strongly sheared silicate-carbonate facies iron formation and one hundred metres to the southeast, a subparallel, less well exposed zone of open-ended strong shearing and quartz-carbonate-sulphide mineralisation some 25m to 40m in width and 400m long also carrying anomalous gold-in-rock values. They noted that these two zones exhibit many similarities to the environments hosting the ore horizons both at the Hemlo Gold Mine (Barrick Gold) on the Schreiber-Hemlo Greenstone Belt and the former Joutel Eagle Mine (Agnico Eagle Mines Ltd) in Quebec.
Scattergood is located on the eastern side of the Manitou Lakes Project and is centred 10.3km east of Beaverhead which is located in the centre of the Project area.
Darren Hazelwood, Chief Executive Officer, Panther Metals plc commented:
"Manitou Lakes is rapidly developing into one of the most exciting greenfield gold exploration projects in Ontario. The drilling successes being reported this year by Dynasty Gold within the region combined with the proposed listing of our direct neighbour Dryden Gold this autumn on the TSXV has helped drive a staking rush in the area that n
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