RCS - Panther Metals PLC - Dotted Lake: Soil Geochemical Grid Processing

Panther MetalsAnnouncement

02/04/2025 07:04

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RNS Number : 2463D  Panther Metals PLC  02 April 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)

2 April 2025

Dotted Lake: Soil Geochemical Grid Processing

Gridded Combined Soil Datasets Reveal Highly Prospective Trends

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in
Canada, is very pleased to announce the processed results of the combined 2024
and 2021 soil geochemical survey dataset (the "Soil Survey") at the Dotted
Lake Project  ("Dotted Lake" or the "Project"), on the north limb of the
Schreiber-Hemlo Greenstone Belt in Ontario, Canada.

 

Darren Hazelwood, CEO, commented:

"Our combined soil data for Dotted Lake has yielded valuable insights, with
clustering analysis revealing well-defined geochemical trends that enhance our
understanding of the mineralisation footprint and point to as yet untested
bedrock source targets. The intensity of the various commodities in the soil
correlates very positively with our geological model and aligns favourably
with soil signature levels which have led to significant mineralisation
discoveries within close proximity to our Dotted Lake Project.

This systematic exploration data driven approach is providing a clear pathway
for next steps, and the results to date reinforce the Project's potential.
With third-party data sharing in place for several months, we have been
carefully managing and analysing the technical information to maximise its
strategic value. We are encouraged by the progress and look forward to
advancing towards the next phase."

The combined gridded 1,472 assay dataset provides high-resolution soil survey
coverage to 6.0km strike length on the north shore of Dotted Lake. The
combined dataset is derived from soil sampling conducted on behalf of Panther
by Bayside Geoscience during 2024 (reported 13 March 2025) and by Fladgate
Exploration during 2021 (reported 9 November 2021).(1,2)

 

The gridded soil assay data has returned highly anomalous standout gold and
critical mineral geochemical trends and anomalies, including major
structurally controlled sub-parallel gold trends which merge on the western
north-shore of Dotted Lake (Figure 1), a 5km long nickel trend (Figure 2) with
coincident cobalt and chromium.

 

Strong base metal trends are also apparent, a 3.5km long zinc anomaly
stretches across the northern boundary of the combined survey area (Figure 3),
whilst distinct copper zones (Figure 4) correlate well with multielement
anomalies including the zinc and nickel.

 

Highly anomalous soil assays range up to 1,665 ppm copper, 480 ppm nickel, 63
ppm cobalt, 432 ppm zinc, 0.99 ppm silver and 377 ppb gold (Table 1).

 

Table 1: Highest Three Soil Assay Results for Selected Elements (Combined
Data)

 

 Selected Element  Lower Limit of Detection  1(st) Highest  2(nd) Highest  3(rd) Highest
 Copper (Cu)       0.01 ppm                  1,665 ppm      1,030 ppm      1,005 ppm
 Nickel (Ni)       0.04 ppm                  480 ppm        456 ppm        394 ppm
 Cobalt (Co)       0.001 ppm                 63 ppm         61 ppm         60 ppm
 Zinc (Zn)         0.1 ppm                   432 ppm        212 ppm        190 ppm
 Silver (Ag)       0.001 ppm                 0.99 ppm       0.91 ppm       0.68 ppm
 Gold (Au)         0.2 ppb                   377 ppb        245 ppb        92 ppb

Table notes: Soil assay results by ALS Laboratories analytical method
ME-MS41L. Limit of detection (LOD) = lower limit of stated method. ppm = parts
per million.  ppb = parts per billion. 1 ppm = 1,000 ppb. Results subject to
rounding.

 

A presentation with a series of maps depicting the gridded soil anomalies is
available to view on the Company's website at www.panthermetals.com
(http://www.panthermetals.com) .

 

Maps showing select gold, nickel, zinc and copper grids are shown below,
further maps are available in the above linked presentation.

 

 (> 10 ppb Au Labels)

 

Figure 1: Structurally Controlled Gold Trends Merge South of Lampson Lake

 

 

 (> 100 ppm Ni Labels)

 

Figure 2: Significant Nickel Anomalies Trend Right Across the Survey Area

 

 

 (> 50 ppm Zn Labels)

 

Figure 3: Anomalous Zinc Trend Exceeds 3.5km In North of Survey Area

 

 

 

 (> 100 ppm Cu Labels)

 

Figure 4: Distinct Copper Anomalies Correlate with Multielement Anomalies
Including Nickel and Zinc

 

 

 

Soil Survey Programme Details

 

In 2024 Bayside Geoscience Inc. ("Bayside") was contracted to extend and
provide infill over the 2021 soil survey grid which was conducted for Panther
by Fladgate Exploration ("Fladgate").  Each survey produced multiple
significant nickel (Ni), cobalt (Co), copper (Cu), gold (Au) and platinum
group element ("PGE") anomalies.(1, 2)

 

Following the announcement of the Bayside soil sampling results on 13 March
2025, the Company has combined and processed a total of 1,472 soil results
which were collected at 25m sample spacing on 100m or 50m spaced grid lines.
Sample analysis for a suite of 53 elements was undertaken by ALS Laboratories
(Vancouver) using the ME-MS41L Multi-Element Super Trace method which is
considered ideal for exploration in soils or sediments. The combined and
gridded survey dataset has significantly extended anomaly trends up to 6km in
strike length.

 

References

 

1:         Company announcement, Soil Survey Significantly Enhances
Targets, Soil Assay Results Delineate Strong Multielement Trends on Dotted
Lake North Shore, dated 13 March 2025

( https://polaris.brighterir.com/public/panther_metals/news/rns/story/xj2k8gr
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/xj2k8gr)
)

 

2:         Company announcement, Dotted Lake - Soil Sampling Survey
Results, dated 9 November 2021

(
 https://polaris.brighterir.com/public/panther_metals/news/rns/story/x57m0pw
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/x57m0pw)
)

 

 

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

 

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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