RCS - Panther Metals PLC - Dotted Lake Project: Update

Panther MetalsAnnouncement

23/05/2025 07:00

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RNS Number : 9514J  Panther Metals PLC  23 May 2025

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 FOR IMMEDIATE RELEASE

PANTHER METALS PLC

("Panther" or the "Company")

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

23 May 2025

Dotted Lake Project: Update

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in
Canada, is pleased to provide an exploration update for the Dotted Lake
Project ("Dotted Lake" or the "Project") where Panther is targeting, orogenic
gold, magmatic intrusive hosted nickel-cobalt- platinum group element ("PGE")
and volcanogenic massive sulphide ("VMS") related base metal deposits, in
Ontario Canada.

 

The Dotted Lake is a unique and evolving exploration asset situated just 16 km
northeast of the Barrick Mining Corporation Hemlo gold mine, which has
produced more than 21 Moz gold to date, and within 2 km of provincial Highway
614, offering excellent logistical advantages with direct access to the
Trans-Canada Highway and Trans-Canada Railroad to the south.

 

The Project tenure is in good standing for multiple years with no underlying
agreements or royalties, enabling Panther to systematically build value
through focused exploration.

 

 

CEO, Darren Hazelwood.

 

"Dotted Lake continues to surprise and excite. What began as a greenfield
prospect is quickly becoming a highly credible exploration project across
multiple commodities. The work to date has demonstrated tangible value and
generated a lot of sector interest, reinforcing this Project is well worth
progressing.

 

The scale of the magmatic ultramafic intrusive system, early gold and zinc
hits, and expert belief in massive sulphide potential all underscore the value
we are building. Our team is focused on advancing this asset with discipline
and technical excellence."

Dotted Lake - Emerging as a Multi-Commodity Opportunity

Over the past year, Panther has made significant progress in transforming
Dotted Lake from a greenfield prospect into a credible multi-commodity
exploration project. The 2024 five hole exploration drill and soil programme
has confirmed a dynamic geological setting that hosts multiple styles of
mineralisation, including ultramafic-hosted nickel, structurally controlled
gold, and zinc-bearing VMS potential.

Key Exploration Highlights:

·      High-Impact Soil Geochemistry:

Extensive soil geochemical sampling programmes in 2021 and 2024 have
identified widespread anomalies, including:

o  Copper up to 1,665 ppm

o  Nickel up to 480 ppm

o  Cobalt up to 62 ppm

o  Zinc up to 432 ppm

o  Silver up to 0.99 g/t

o  Gold up to 377 ppb

These anomalies define a series of trends including a 5 km long nickel trend,
a 3 km gold trend and a 3.5 km zinc corridor, representing high-priority
target zones, see Figure 1 to 4 and 2021-2024 Soil Presentation

( https://panthermetals.com/investors/presentation
(https://panthermetals.com/investors/presentation) )

·      Drilling Success - Nickel, Zinc & Gold Confirmed:

Initial diamond drilling has confirmed widespread mineralisation across
multiple targets:

o  Nickel, Chromium, PGE:

§ Over 214 m of open-ended nickel-bearing ultramafic intrusive intersected in
hole DL24-002, with 129m intersected in DL24-003 and 94m intersected in
DL24-004 (see Figure 5 & 6)

§ Grades up to 0.25% Ni highlighting the scale and consistency of the
intrusive system.

§ Ultramafic layering confirmed by cyclical 5m wide banding of elevated
chromite grading up to 6.65 %, 0.1 g/t Platinum & 0.24 g/t Palladium.

o  Zinc:

§ DL24-001 intersected wide predominantly seafloor volcano-sedimentary
derived packages prospective for hosting VMS mineralisation, with

§ 5.5m @ 1.21 % Zn from 155.3m, including

·    2.7m @ 2.42% Zn from 155.3m and

·    1.0m @ 3.8% Zn from 155.3m

o  Gold:

§ PM21-DL-001: nine separate gold intervals grading up to 2.57g/t Au (2021
drill hole)

§ DL24-001: three separate gold intervals grading up to 1.55 g/t Au

§ DL24-005: three anomalous intervals grading up to 1.63 g/t Au

 

·      Magmatic Intrusive System with Scale:

Only three holes drilled to date into the ultramafic magmatic intrusive, but
results already show distinct ultramafic layering, with regional geological
experts confident the system has strong potential to host massive sulphide
mineralisation.

·      VMS Potential Active in All Programmes:

The combination of base metal intercepts, favourable stratigraphy, and
structural setting supports a compelling case for volcanogenic massive
sulphide (VMS) mineralisation, which will remain an integrated focus in
ongoing exploration.

·      Gold Feeder System Indicators:

Structural mapping and anomalous geochemistry indicate potential for
Hemlo-style gold mineralisation, with multiple fault zones and deformation
corridors providing fluid pathways for orogenic gold deposition as supported
by the highly anomalous gold in soil trends.

Next Steps - Geophysics to Refine Drill Targets

To define priority drill targets for massive sulphide discovery within the
ultramafic system, Panther will undertake a targeted ground based Induced
Polarisation ("IP") geophysical survey during summer 2025. This survey aims to
identify conductive bodies associated with sulphide mineralisation and will
complement existing geological and geochemical datasets to refine drill
planning.

Infrastructure Advantage

Dotted Lake benefits from exceptional infrastructure:

·      Located just 2 km from a major road and 16 km from the
Trans-Canada Highway and Trans-Canada Railroad

·      On-site trail network and logistical planning significantly
reduce operational costs

·      The project is fully permitted and drill-ready for continued
field activity.

Maps and Illustrations

 

 Figure 1: Dotted Lake Nickel in Soil Trend (see also Figure 4)

 

 Figure 2: Dotted Lake Gridded Gold in Soil Anomaly Trend

 

 Figure 3: Dotted Lake Gridded Zinc in Soil Anomaly Trend

 

 Figure 4: Dotted Lake Three Dimensional East-West Long Section View of
 Modelled Ultramafic below Nickel in Soil Anomalies

 

 Figure 5: Section  Slice Though Modelled Ultramafic Intrusive Showing Ni
 Graphs for Drill Holes DL24-002 & DL24-003. Note DL24-002 Is Open-Ended.
 Looking towards NE

 

 Figure 6: Section  Slice Showing Ni Graphs for Drill Holes DL24-002 / 003 /
 004. Note DL24-004 & DL24-002 are Open-Ended.  View Looking SW, Intrusive
 Body Removed for Clarity

 

 

For further information please contact:

 

 

Panther Metals PLC:

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

 
+44(0) 7971 957 685

Broker:

SI Capital Limited

Nick Emerson
                         +44(0) 1438 416 500

 

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 two 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.

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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