RCS - Panther Metals PLC - Dotted Lake: Diamond Drilling Mobilisation

Panther MetalsAnnouncement

17/10/2024 13:30

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RNS Number : 6420I  Panther Metals PLC  17 October 2024

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 FOR IMMEDIATE RELEASE

PANTHER METALS PLC

("Panther" or the "Company")

(Incorporated in the Isle of Man with company number 009753V)

17 October 2024

Dotted Lake: Diamond Drilling Mobilisation

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in
Canada, is pleased to announce that Platinum Diamond Drilling Inc.
("Platinum") has been contracted to undertake a critical mineral focussed
Phase 1 diamond drilling programme and associated access trail logistics at
the Dotted Lake Project  ("Dotted Lake" or the "Project"), on the north limb
of the Schreiber-Hemlo Greenstone Belt in Ontario, Canada.

 

Platiunum personnel are currently mobilising to site as part of drill pad and
access preparation work. The drilling programme is part of a fully funded
series of works focussed on the discovery of nickel (Ni), cobalt (Co), copper
(Cu), gold (Au) and platinum group element ("PGE") bearing sulphide
mineralisation associated with the mafic-ultramafic intrusive complex in the
north-east of the Dotted Lake Project area.

 

The Phase 1 drilling programme comprises six planned holes for approximately
1,200m diamond core drilling and will test an initial four target areas
(Figure 1) as detailed in the Company announcement of 9 October 2024 (1) and
the comprehensive technical update dated 7 October 2024 (2).

 

Darren Hazelwood, CEO commented:

 

"The north shore of Dotted Lake contains every piece of the geological puzzle
required to support a significant discovery, and I'm delighted that the
Platinum team are starting work on making that discovery.

 

In addition to Platinum, we'll have our own team on site and guests who have
expressed interest in reviewing our work at Dotted Lake, something Panther are
delighted to facilitate. I'll update the market as this programme develops."

Figure 1: Dotted Lake Phase 1 Drill Target Areas

 

References

 

1:         Company announcement, 9 October 2024, Dotted Lake: Drill
Targets,

            (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/xzgo5ew
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/xzgo5ew)
)

 

2:         Company announcement, 7 October 2024, Dotted Lake:
Technical Update, Inversion & Drill Targets,

( https://polaris.brighterir.com/public/panther_metals/news/rns/story/w0o78nw
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/w0o78nw)
)

 

 

For further information please contact:

 

 

Panther Metals PLC:

Darren Hazelwood, Chief Executive Officer:            +44(0) 1462
429 743

 
+44(0) 7971 957 685

Brokers:

Tavira Financial Limited

Christopher James
Kipling                               +44(0) 203
833 3743

SI Capital Limited

Nick Emerson
                         +44(0) 1438 416 500

Axis Capital Markets Limited

Ben Tadd

Lewis
Jones
+44 (0)20 3026 0449

 

Notes to Editors

Panther Metals PLC is an exploration company listed on the main market of the
London Stock Exchange. Panther is focussed on the discovery of commercially
viable mineral deposits. The Company's operational focus is on established
mining jurisdictions with the capacity for project scalability. Drill targets
are assessed rapidly utilising a combination of advanced technologies and
extensive geological data to decipher potential commercial viability and act
accordingly. Panther's current geological portfolio comprises of three highly
prospective properties in Ontario, Canada.

Obonga Project

Panther Metals acquired the Obonga Greenstone Belt in July 2021 and have
already identified five prospective primary targets: Wishbone, Awkward,
Survey, Ottertooth and Silver Rim. A successful Phase 1 drilling campaign at
Wishbone in Autumn 2021 revealed the presence of significant VMS-style
mineralised systems on the property - the first such discovery across the
entire greenstone belt. Intercepts include 27.3m of massive sulphide in hole
one, and 51m of sulphide-dominated mineralisation in hole two. Both drill
holes contained multiple lenses. Anomalous high-grade copper in lake sediment
close to the target area has also been identified, increasing confidence in
the prospectivity of the location.

Awkward is a highly anomalous magnetic target, interpreted to be a layered
mafic intrusion and magmatic conduit based on mapped geology and airborne
geophysics. Historic sampling in the area returned anomalous platinum and
palladium (Pt, Pd) values, while historic drilling on the periphery of the
target intersected non-assayed massive sulphide and copper (assumed to be
chalcopyrite), non-assayed disseminated pyrite and chalcopyrite in coarse
gabbro, and non-assayed 'marble cake' gabbro (matching the description of the
Lac des Iles Mine varitexture gabbro ore zone).

Two additional named targets, Survey and Ottertooth, both displays further
coincident magnetic and electromagnetic anomalies and are adjacent to the
contact between intrusive and extrusive mafic rocks. Historic drilling at
Survey intersected several meters of massive sulphides in multiple
intersections (main parts of the anomaly remain untested) while Ottertooth
remains untested in its entirety.

Dotted Lake Project

Panther Metals acquired the Dotted Lake Project in July 2020, it is situated
approximately 16km from Barrick Gold's renowned Hemlo Gold Mine. An extensive
soil programme conducted in 2021 identified numerous gold and base metal
targets, all within the same geological footprint. Following the installation
of a new trail providing direct access to the target location, an initial
drilling programme in Autumn 2021 confirmed the presence of gold
mineralisation within this system with anomalous gold continuing along strike
and present within the surrounding area.

Fulcrum Metals Plc

Fulcrum Metals PLC (LON: FMET) is an AIM listed exploration company which
finances and manages exploration projects focused on Canada, widely recognised
as a top mining jurisdiction.

 

Fulcrum's strategy is to focus on discovery and commercialisation of its
Projects through targeted exploration programmes. The primary focus is to make
an economic discovery on the flagship Schreiber-Hemlo Properties and
establishing the prospectivity of its wider Ontario and Saskatchewan portfolio
with a view to securing potential joint venture and/or acquisition interest.

 

Panther Metals Plc own 12.38% of the issued share capital of Fulcrum Metals
Plc and a 2% NSR on the Big Bear project.

Conclusion

Panther Metals understand that the commercial realities of building an
exploration company requires expertise in geology, finance, and the markets
within which they operate. The Company's extensive network of industry leaders
allows it to meet these objectives. Ultimately however, drilling success is
the only route to discovery: the fundamental objective of any exploration
company. Once Panther's world-class geological team identify the anomalies,
they work hard to get drilling. The drill hole is the only place where
substantial and sustained capital growth originates and it's with that
operational focus Panther Metals will continue to advance.

 

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