RCS - Panther Metals PLC - Fulcrum Metals: Subscription to Raise c. £130,000

Panther MetalsAnnouncement

27/09/2024 07:15

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RNS Number : 9410F  Panther Metals PLC  27 September 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)

27 September 2024

 

Fulcrum Metals: Further Subscription to Raise circa £130,000

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in
Canada, notes the Fulcrum Metals PLC ("Fulcrum", LON: FMET) announcement of a
further subscription of 1,625,000 new ordinary shares of nominal value 1 pence
each ("Ordinary Shares") in the capital of Fulcrum (the "Subscription";
"Subscription Shares") at a price of 8 pence per Subscription Share raising
Fulcrum £130,000 before expenses. The Subscription is in addition to
Fulcrum's previously announced capital raise on 13 September 2024.

 

Panther currently holds a total of 7,625,122 Ordinary Shares in Fulcrum, which
shall represent a 12.38% interest in the enlarged issued share capital of
Fulcrum following the issue and admission to trading on AIM, the market of
that name operated by London Stock Exchange PLC of the Subscription Shares,
plus 714,286 warrants exercisable into one new Ordinary Share each at 17.5
pence each with a two-year life from 14 February 2023 and a further 476,190
warrants exercisable into one new Ordinary Share each at 26.25 pence each with
a three-year life from 14 February 2023. Panther also retains a 2% net smelter
return (NSR) royalty over the Big Bear Project.

 

Further information is available in the full Fulcrum RNS announcement which is
available at: https://fulcrummetals.com/news/
(https://fulcrummetals.com/news/)

 

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 while the developing investment wing
focuses on the targeting of nickel and gold in Australia.

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.

 

FMET currently holds a beneficial 100% interest in highly prospective gold and
base metals projects in Ontario and Uranium projects in Saskatchewan.

 

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 Australia

Panther Metals' Australian assets were listed on the Australian Securities
Exchange ("ASX") in December 2021. The ASX listing has provided the Australian
projects with the necessary capital to advance drill-ready targets focused on
nickel and gold (within the Tier 1 Mining Districts of Laverton WA and in the
NT). Through this spin-out Panther holds an attractive investment prospect,
without any disruption to the Company's capital structure and without any
financial obligations.

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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