REG - Panther Metals PLC - Dotted Lake: Survey Significantly Enhances Targets

Panther MetalsAnnouncement

13/03/2025 07:15

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RNS Number : 4688A  Panther Metals PLC  13 March 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)

13 March 2025

Dotted Lake: Soil Survey Significantly Enhances Targets

Soil Assay Results Delineate Strong Multielement Trends on Dotted Lake North
Shore

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in
Canada, is pleased to announce the results of the autumn 2024 soil geochemical
sampling programme (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.

 

The 1,044 soil assays collected over four grids have extended high-resolution
soil survey coverage to 5.5km strike length over high priority targets on the
north shore of Dotted Lake (Figure 1).

 

The soil assays have returned standout multielement critical mineral
geochemical anomalies closely linked and coincident with geophysical anomalies
and the recent Phase 1 Diamond Drilling target areas, for which the remainder
of the assay results are eagerly awaited.

 

Highly anomalous soil assays range up to 1,665 ppm copper, 480 ppm nickel, 62
ppm cobalt, 190 ppm zinc, 0.99 ppm silver and 377 ppb gold (Table 1).

 

The results have delineated multiple new target areas around Lampson Lake
where lake sediment samples returned highly anomalous readings of over 985 ppm
Cu, 130 ppm Zn, 29 ppm Ni, 19 ppm Co and 0.28 g/t Ag.

 

The results also show highly anomalous, regionally significant, nickel and
cobalt anomalies coincident with ultramafic intrusive targets along the
eastern north shore of Dotted Lake ( Figures 1 to 4).

 

Table 1: Highest Three Soil Assay Results for Selected Elements

 

 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                 62 ppm         61 ppm         49 ppm
 Zinc (Zn)         0.1 ppm                   190 ppm        157 ppm        157 ppm
 Silver (Ag)       0.001 ppm                 0.99 ppm       0.56 ppm       0.50 ppm
 Gold (Au)         0.2 ppb                   377 ppb        42.2 ppb       30.6 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.

 

The Soil Survey work is supported by the Ontario Junior Exploration Program
("OJEP"), a provincial government grant to help junior companies finance early
exploration projects. OJEP covers 50% of eligible costs for approved
programmes, with the agreed contribution to Panther for this work totalling
Canadian $56,930.

 

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

 

Maps showing select copper, zinc, gold and nickel anomalies are shown below.

 

 Figure 1: Dotted Lake Project 2024 Soil Sampling Grids and Interpreted
 Ultramafic Bodies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 (> 10 ppb Au Labels)
 (> 100 ppm Ni Labels)

 Figure 2: Significant Gold (top) and Nickel (bottom) Anomalies Trend Right
 Across the Survey Area

 

 

 

 (> 100 ppm Cu Labels)
 (> 50 ppm Zn Labels)

 Figure 3: Dotted Lake North Shore Grid D Shows Three Highly Anomalous Copper
 Trends (top map) 2.5 km Long Anomalous Zinc Trend (bottom)

 (> 100 ppm Cu Labels)
 (> 50 ppm Zn Labels)

 Figure 4: Lampson Lake Grid A & B Shows At Least Three Highly Anomalous
 Copper Trends (top) with coincident Zinc Anomalies (bottom)

 

 

 

 

Soil Survey Programme Details

 

Bayside Geoscience Inc. ("Bayside") was contracted to undertake the Soil
Survey to extend and provide infill over Panther's 2021 soil survey grid which
yielded significant nickel (Ni), cobalt (Co), copper (Cu), gold (Au) and
platinum group element ("PGE") anomalies. The Soil Survey also provides infill
over the historical geochemical survey conducted by Clear Mines Ltd in August
1983.(1, 2)

 

A total of 1,044 soil samples were assayed, including 52 field duplicates, 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 Bayside work has extended soil geochemistry data coverage on both the
northwestern and northeastern shores of Dotted Lake (Figure 1) and has
provided exciting new target areas and trends for further investigation with
standout areas of interest in the vicinity of Lampson Lake and along the north
shore of Dotted Lake.

 

Competent Person Statement

Technical information in this announcement has been reviewed by Nicholas
O'Reilly BSc (Hons) MSc DIC MAusIMM MIMMM FGS, a non-executive director of
the Company. Mr O'Reilly is principal geologist and a director of Mining
Analyst Consulting Ltd. He has over 16 years' experience in mining,
exploration and development across all major commodities. As a qualified
geologist, he can act as Competent Person for JORC Code and AIM rules.

The person who arranged for the release of this information is Darren
Hazelwood, the Company's Chief Executive Officer.

 References

 

1:         Ontario Junior Exploration Program (OJEP) website

( https://www.ontario.ca/page/ontario-junior-exploration-program
(https://www.ontario.ca/page/ontario-junior-exploration-program) )

 

2:         Company announcement, Dotted Lake - New Nickel Target
Outlined, dated 13 September 2022 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/w13n84r
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/w13n84r)
)

 

3:         Company announcement, Dotted Lake: Soil Survey Extension
Commenced, dated 21 October 2024 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/ryn86kw
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/ryn86kw)
)

 

4:         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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