REG - Panther Metals PLC - Drilling/Production Report
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RNS Number : 7602D Panther Metals PLC 11 May 2026
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FOR IMMEDIATE RELEASE
PANTHER METALS PLC
("Panther" or the "Company")
(Incorporated in the Isle of Man with company number 009753V)
11 May 2026
Winston Tailings Project: Batch 5 Assay Results
Panther Metals PLC (LSE: PALM), the exploration company focused on mineral
projects in Canada, is very pleased to report the fifth batch ("Batch 5") of
Vibracore sample assay results for the Winston Tailings Project near
Schrieber, Ontario, Canada.
The Vibracore tailings sampling is in support of the Mineral Resource estimate
("MRE") programme, the first of a series of ongoing workstreams progressing to
quantify, evaluate and permit the contained high-grade gold (Au), gallium
(Ga), silver (Ag), zinc (Zn), copper (Cu), indium (In) and cobalt (Co) and
other recoverable minerals located within the historic Winston Lake Mine
tailings storage facility ("TSF").
Key points:
· Fifth batch of tailings core sample assay results (Table 1) received
for twenty seven Vibracore collar locations (WT-26-009, WT-26-010, WT-26-023,
WT-26-025, WT-26-043, WT-26-053, WT-26-054, WT-26-061, WT-26-065, WT-26-070A,
WT-26-071A, WT-26-072, WT-26-082, WT-26-083, WT-26-085, WT-26-093, WT-26-095,
WT-26-098, WT-26-099, WT-26-100, WT-26-101, WT-26-102, WT-26-103A, WT-26-104,
WT-26-105, WT-26-107& WT-26-108) situated upon sixteen east-west profiles
(Figure 1).
· Assayed intersections reported for Batch 5 are taken from total
tailings thicknesses varying between 1.5m to 15.2m (Table 2). The maximum
vertical thickness of tailings (below ice and water) intersected across the
TSF is 16.8m with an average vertical thickness of 8.7m.(1)
· Samples comprise HQ core (63.5mm) diameter cylinders of tailings
material through the vertical profile of the tailings, collected from the
surface of the tailings (situated below ice and water cover) to the base of
the tailings.
· Results continue to show good grade consistency across the vertical
depth-profile and laterally between Vibracore hole collar locations, and
support or exceed the 2025 preliminary assay results announced 31 July 2025
and the results announced 17 March 2026, 19 March 2026, 14 April 2026 and 28
April 2026. (2,3,4,5,6)
Darren Hazelwood, Chief Executive Officer commented:
"These latest results continue to confirm continuity across the Winston
Tailings Project footprint, strengthening our confidence in the project's
scale, consistency and commercial potential.
Alongside Panther's accelerating business model, we believe the market is
increasingly recognising the broader potential of tailings reprocessing, which
can support the advancement of other high-impact projects across our
portfolio.
Ongoing work continues to expand our understanding of the asset while reducing
risk, and we look forward to updating shareholders as the project advances."
Table 1: Winston Tailings Vibracore Sample Assay Results Batch 5
Vibracore Vertical Depth (m) Au Ag Zn* Cu Co Ga In
Hole ID From To (g/t) (g/t) (%) (%) (ppm) (ppm) (ppm)
WT-26-009 3.27 4.77 0.552 12.95 0.783 0.109 341.0 95.7 7.73
4.77 6.27 0.422 11.90 1.430 0.115 416.0 105.0 12.90
6.27 7.77 0.723 11.90 1.540 0.129 221.0 88.8 11.65
7.77 9.27 0.478 9.17 2.060 0.119 232.0 100.5 17.20
9.27 10.77 0.571 10.50 1.445 0.121 236.0 99.0 11.55
WT-26-010 1.77 3.27 0.414 10.40 2.300 0.177 332.0 112.5 21.00
3.27 4.77 0.565 14.35 1.135 0.144 370.0 105.5 12.20
4.77 6.27 0.449 11.25 1.190 0.105 378.0 92.5 9.72
7.77 9.27 0.790 12.20 1.485 0.143 237.0 90.5 11.15
9.27 10.77 0.642 11.75 1.565 0.129 276.0 98.0 12.50
10.77 12.27 0.573 10.10 2.010 0.122 226.0 85.2 15.45
12.27 13.31 0.805 12.30 2.880 0.170 228.0 78.5 20.20
WT-26-023 1.77 4.77 0.726 14.75 1.140 0.138 338.0 97.3 9.90
4.77 6.27 0.705 14.35 1.100 0.144 359.0 101.5 10.75
7.77 9.27 0.358 9.03 1.820 0.153 224.0 69.4 14.25
9.27 9.59 0.136 2.99 0.574 0.046 79.7 33.5 4.17
WT-26-025 1.77 2.68 0.823 13.15 1.740 0.173 304.0 84.7 15.25
WT-26-043 7.77 9.27 0.339 8.88 1.345 0.129 214.0 69.8 10.25
9.27 10.77 0.183 7.78 1.070 0.098 176.5 66.9 7.56
10.77 12.27 0.362 8.53 0.853 0.116 271.0 91.3 9.95
12.27 13.77 0.350 7.77 1.105 0.127 205.0 81.7 10.80
13.77 15.27 0.386 8.39 1.110 0.119 260.0 90.3 12.15
15.27 15.45 0.434 8.38 1.130 0.136 227.0 85.3 11.15
WT-26-053 15.21 16.71 0.281 7.01 1.230 0.116 181.0 54.5 9.69
WT-26-054 15.40 16.90 0.144 4.95 0.838 0.078 152.0 50.0 6.59
WT-26-061 1.90 4.90 0.224 8.81 1.415 0.134 310.0 89.2 11.75
4.90 6.40 0.230 8.14 1.700 0.106 409.0 102.0 16.80
6.40 7.90 0.294 11.65 2.370 0.192 512.0 113.5 22.20
7.90 9.40 0.443 11.10 1.100 0.092 372.0 95.3 9.36
9.40 10.90 0.598 9.24 1.720 0.118 204.0 92.2 12.05
10.90 12.40 0.492 9.09 1.470 0.108 239.0 96.2 10.90
12.40 13.90 0.525 8.87 1.340 0.104 213.0 95.0 10.25
13.90 15.40 0.539 9.05 1.630 0.107 285.0 97.5 12.25
15.40 16.90 0.483 9.04 1.365 0.110 313.0 96.9 10.55
WT-26-065 6.00 7.50 0.559 9.93 1.080 0.134 277.0 86.4 11.45
7.50 8.50 0.585 12.70 0.902 0.112 356.0 108.5 9.38
WT-26-070A 1.00 2.50 0.414 9.42 1.200 0.135 250.0 77.6 12.85
2.50 4.00 0.301 8.18 0.918 0.134 206.0 73.2 10.90
WT-26-071A 1.00 2.50 0.300 8.47 1.055 0.118 274.0 79.8 10.35
2.50 4.00 0.669 12.85 1.170 0.124 348.0 118.5 10.30
4.00 5.50 0.409 13.50 1.775 0.121 448.0 111.5 16.30
5.50 7.00 0.427 15.00 1.450 0.164 424.0 98.0 15.30
7.00 8.50 0.435 11.80 1.585 0.134 376.0 97.5 12.80
8.50 10.00 0.611 12.15 2.630 0.146 294.0 82.7 20.80
10.00 11.50 0.533 10.30 1.915 0.133 311.0 89.8 16.55
WT-26-072 1.00 2.50 0.594 11.85 1.490 0.163 336.0 102.0 13.20
2.50 4.00 0.345 11.50 1.205 0.108 367.0 99.5 13.10
4.00 5.50 0.527 16.65 0.930 0.177 476.0 116.5 12.25
5.50 7.00 0.294 11.30 1.385 0.121 391.0 103.5 15.15
WT-26-082 1.00 2.50 0.771 15.20 1.265 0.138 457.0 96.4 14.20
2.50 4.00 0.323 10.40 0.949 0.116 310.0 82.1 9.61
4.00 5.50 0.469 12.55 0.999 0.109 363.0 88.6 9.08
5.50 7.00 0.668 11.30 0.825 0.107 304.0 69.5 6.41
7.00 8.50 0.638 11.85 1.990 0.154 299.0 95.5 17.10
8.50 10.00 0.605 11.40 2.130 0.153 271.0 89.8 14.60
10.00 10.10 0.362 9.42 1.365 0.141 257.0 82.2 13.00
WT-26-083 1.00 2.50 0.696 16.90 1.175 0.169 495.0 94.1 13.05
2.50 4.00 0.521 14.25 0.958 0.119 385.0 91.4 8.87
4.00 5.50 0.636 14.55 0.994 0.120 361.0 81.9 8.58
5.50 7.00 0.661 14.75 1.115 0.118 354.0 84.7 9.37
WT-26-085 2.50 4.00 0.725 14.50 1.205 0.140 348.0 93.4 9.86
4.00 5.50 0.878 13.05 1.120 0.121 311.0 72.3 8.00
5.50 7.00 0.650 12.70 3.070 0.215 311.0 89.9 23.00
7.00 8.50 0.559 12.60 4.420 0.244 307.0 83.2 32.30
8.50 10.00 0.754 13.75 6.370 0.255 280.0 84.6 40.40
WT-26-093 2.50 4.00 0.223 7.67 1.295 0.111 177.5 61.8 7.28
4.00 5.50 0.584 9.36 1.440 0.144 232.0 86.3 9.42
5.50 7.00 0.366 8.74 1.450 0.107 341.0 90.3 13.40
7.00 8.50 0.289 7.89 1.470 0.115 318.0 83.6 14.10
WT-26-095 4.00 7.00 0.647 11.30 2.120 0.215 264.0 111.0 20.20
7.00 8.50 0.459 8.30 1.215 0.143 203.0 89.2 10.55
8.50 10.00 0.452 9.05 1.195 0.118 254.0 93.6 9.08
10.00 11.50 0.430 8.38 1.255 0.120 271.0 85.4 9.34
11.50 13.00 0.475 9.58 1.355 0.152 208.0 83.0 11.05
13.00 14.50 0.476 8.39 1.430 0.147 242.0 79.3 10.75
WT-26-098 4.00 5.50 0.339 9.78 1.750 0.162 206.0 60.5 10.15
5.50 7.00 0.435 10.55 1.420 0.144 296.0 80.6 11.30
7.00 8.50 0.316 9.74 1.395 0.145 245.0 79.4 10.60
WT-26-099 17.15 18.65 0.190 7.24 1.060 0.096 202.0 71.4 8.63
WT-26-100 5.50 7.00 0.206 7.20 1.090 0.104 167.5 64.6 7.38
7.00 8.50 0.185 8.18 1.155 0.122 195.5 82.1 9.69
8.50 10.00 0.443 8.59 1.160 0.120 198.5 87.3 7.94
10.00 11.50 0.300 8.25 1.240 0.114 220.0 80.5 8.46
11.50 13.00 0.281 8.30 1.260 0.131 243.0 79.5 8.77
13.00 14.50 0.348 8.10 1.240 0.107 313.0 88.8 9.83
WT-26-101 4.00 5.50 0.353 8.53 1.270 0.127 254.0 79.9 8.61
5.50 7.00 0.488 8.67 1.295 0.129 263.0 82.7 8.20
7.00 8.50 0.311 8.69 1.265 0.134 243.0 78.0 8.67
8.50 10.00 0.295 8.36 1.085 0.113 178.5 61.7 7.18
10.00 11.50 0.332 8.52 1.055 0.115 209.0 66.3 7.08
WT-26-102 5.50 7.00 0.294 9.19 1.415 0.129 225.0 75.4 11.50
7.00 8.50 0.280 9.31 1.185 0.145 197.0 84.8 12.40
8.50 10.00 0.290 8.91 1.165 0.118 251.0 80.8 10.25
10.00 11.50 0.321 8.20 1.170 0.124 262.0 80.6 9.79
11.50 13.00 0.296 8.32 1.260 0.134 234.0 81.5 10.35
13.00 13.08 0.272 8.15 1.065 0.107 243.0 80.6 8.64
WT-26-103A 11.50 13.00 0.238 8.03 1.250 0.107 223.0 63.4 8.28
13.00 14.50 0.282 9.40 1.425 0.121 227.0 67.1 10.20
14.50 14.80 0.289 9.01 1.385 0.118 216.0 63.4 9.61
WT-26-104 10.00 11.50 0.271 7.71 1.155 0.120 171.0 56.8 7.19
11.50 13.92 0.234 8.51 1.140 0.109 253.0 73.2 10.10
WT-26-105 14.50 16.00 0.288 7.50 1.015 0.109 174.5 63.3 7.09
17.50 19.85 0.246 9.04 1.410 0.138 219.0 80.5 10.90
WT-26-107 14.35 15.85 0.190 8.51 1.585 0.127 279.0 79.1 12.65
WT-26-108 13.00 14.50 0.036 0.96 0.289 0.024 32.6 15.8 1.75
14.50 16.00 0.013 0.28 0.057 0.007 13.4 12.2 0.41
Table Note: Assay results by ALS Laboratory methods ME-MS61, Au-ICP21 (for
gold) and Zn-OG62 (for Zn>1%). * Zinc results >1% Zn by method Zn-OG62,
Zn <1% by method ME-MS61. Future sample batches may contain further results
for the reported Hole IDs.
Analytical Methods
The certified assay results are by ALS Laboratories using four-acid super
trace multielement method ME-MS61 (four-acid digestion for near-total recovery
across a suite of 48 elements), Au-ICP21 (gold by fire assay with an
inductively coupled plasma atomic emission spectroscopy finish) and Zn-OG62
(four-acid overlimit method for high-grade zinc).
Figure 1: Winston Tailings 2026 Vibracore Sample Result Locations for this
Announcement
Table 2: Vibracore Sample Collar Locations and Tailings Depths
Vibracore Hole ID (#) UTM Northing UTM Easting Collar Elevation (m) Depth to Tailings Surface (m) Depth to Tailings Base (m) Tailings Thickness* (m)
WT-26-001 5424415 473016 464.1 0.7 6.6 5.9
WT-26-002 5424415 473042 463.8 1.3 5.5 4.2
WT-26-003 5424415 473091 463.4 1.1 9.3 8.2
WT-26-004 5424415 473141 463.3 0.9 14.0 13.1
WT-26-005 5424414 473191 464.0 1.0 6.9 5.9
WT-26-006 5424414 473241 463.4 0.7 8.3 7.5
WT-26-007 5424364 473215 463.2 0.8 10.3 9.5
WT-26-009 5424364 473115 463.3 0.6 10.8 10.2
WT-26-010 5424364 473165 463.7 0.6 13.3 12.7
WT-26-011 5424315 473090 464.4 0.6 3.1 2.5
WT-26-011A 5424315 473094 463.3 0.6 3.1 2.4
WT-26-012 5424315 473140 463.7 0.5 11.7 11.2
WT-26-013 5424314 473191 463.4 0.6 7.8 7.2
WT-26-014 5424313 473235 464.2 0.6 4.3 3.7
WT-26-015 5424263 473215 462.9 0.6 6.3 5.7
WT-26-016 5424263 473166 462.8 0.6 10.7 10.0
WT-26-017 5424264 473115 462.8 0.7 11.4 10.7
WT-26-018 5424264 473065 46.3 0.6 4.1 3.5
WT-26-020 5424214 473141 462.8 0.7 9.6 8.9
WT-26-021 5424214 473190 463.7 0.6 5.7 5.1
WT-26-023 5424113 473191 463.0 0.7 9.6 8.9
WT-26-024 5424062 473215 464.4 0.7 5.7 5.0
WT-26-025 5424013 473191 461.3 1.2 2.7 1.5
WT-26-026 5424064 473165 462.1 0.8 6.6 5.8
WT-26-027 5424464 473215 462.8 0.9 9.5 8.6
WT-26-028 5424465 473165 462.5 0.8 6.3 5.5
WT-26-030 5424463 473065 462.6 0.7 11.1 10.4
WT-26-031 5424463 473015 463.2 0.9 12.7 11.8
WT-26-032 5424464 472966 462.4 2.0 10.5 8.5
WT-26-033 5424513 472940 463.2 1.7 7.4 5.6
WT-26-034 5424514 472989 462.6 1.2 16.3 15.1
WT-26-035 5424515 473041 462.7 1.1 14.2 13.1
WT-26-036 5424514 473092 463.2 1.2 11.4 10.2
WT-26-037 5424513 473140 462.9 1.1 17.7 16.7
WT-26-038 5424564 473116 463.4 1.2 13.1 11.9
WT-26-039 5424565 473065 463.6 1.3 15.3 14.0
WT-26-041 5424563 472969 463.5 2.8 17.5 14.7
WT-26-042 5424565 472913 463.0 3.1 10.6 7.5
WT-26-043 5424613 472889 464.0 5.0 15.5 10.5
WT-26-044 5424612 472944 463.6 4.6 18.6 14.0
WT-26-045 5424613 472991 463.5 2.5 15.2 12.7
WT-26-049 5424663 473016 462.7 2.5 14.7 12.2
WT-26-050 5424713 472991 463.7 2.1 13.5 11.4
WT-26-051 5424714 472940 463.5 6.4 19.6 13.2
WT-26-052 5424713 472890 463.8 6.7 17.2 10.5
WT-26-053 5424765 472869 463.2 10.0 16.7 6.7
WT-26-054 5424765 472916 462.1 9.6 16.9 7.3
WT-26-055 5424765 472959 462.8 8.6 15.2 6.6
WT-26-056 5424815 472841 462.6 11.8 15.0 3.2
WT-26-061 5424537 473135 462.6 1.7 16.9 15.2
WT-26-062 5424541 473086 463.3 1.5 9.5 8.1
WT-26-063 5424539 473040 463.4 1.5 17.6 16.1
WT-26-065 5424540 472941 463.0 3.6 8.5 5.0
WT-26-070A 5424433 473140 463.1 0.7 4.0 3.3
WT-26-071A 5424439 473089 464.7 0.8 11.5 10.7
WT-26-072 5424439 473041 463.0 0.7 7.0 6.3
WT-26-074 5424390 473190 463.2 1.0 8.4 7.4
WT-26-075 5424391 473141 463.5 0.8 15.5 14.7
WT-26-080 5424338 473190 463.1 1.0 8.5 7.6
WT-26-082 5424288 473191 463.2 0.9 10.1 9.2
WT-26-083 5424238 473190 463.0 0.7 7.0 6.3
WT-26-085 5424140 473191 463.8 0.6 10.0 9.4
WT-26-088 5424190 473142 463.8 0.8 5.3 4.4
WT-26-089 5424242 473088 463.2 0.7 7.4 6.7
WT-26-091 5424289 473090 463.4 0.7 3.7 3.0
WT-26-093 5424590 473091 463.5 1.4 8.5 7.1
WT-26-095 5424589 472991 463.0 1.7 14.5 12.9
WT-26-098 5424638 472890 463.6 2.4 8.5 6.1
WT-26-099 5424638 472940 463.3 5.2 18.7 13.4
WT-26-100 5424638 472991 463.6 1.9 14.5 12.7
WT-26-101 5424639 473040 463.5 1.5 11.5 10.0
WT-26-102 5424690 472990 462.6 2.2 13.1 10.9
WT-26-103A 5424688 472943 462.4 7.1 14.8 7.8
WT-26-104 5424739 472983 463.4 5.3 13.9 8.7
WT-26-105 5424739 472938 463.3 8.4 19.9 11.5
WT-26-107 5424789 472840 463.3 10.9 15.9 5.0
WT-26-108 5424840 472863 463.2 11.3 16.0 4.7
Table Note: UTM Zone 16N NAD83 Datum. WT-26-011A drilled to test for a
suspected false bottom encountered in WT-26-011. Table includes statistics for
all Vibracore holes reported to 11 May 2026. Batch 5 Vibracore Hole IDs shown
bold. * Apparent tailings thickness and vertical profile tested by assays may
differ. Depth figures rounded to 1 decimal place. Depth to tailings of
WT-26-001 amended from 0.6m to 0.7m.
Further Information
The Winston Tailings Project Vibracore sampling grid comprises a total of 109
collar locations, staggered at a nominal spacing of 50m along east-west fence
lines spaced at 25m north-south, for an effective horizontal sample spacing
averaging either 25m or 35m between fences. Duplicate 'twin' core material was
retrieved at 3 locations, whilst vertical profiles were restarted at 6 of the
locations. The completed sample grid measures up to 904m along the long axis
and up to 230m perpendicular to the TSF long axis.
Vibracore tailings cylinders are logged and sampled by Bayside Geoscience Ltd
in the city of Thunder Bay, with sample batches submitted to ALS Laboratories
for geochemical analysis in support of the Mineral Resource estimate.
The MRE is an integral part of the process to advance the Winston Tailing
Project towards a cashflow proposition and will be based upon the resource
sampling programme, mineralogical and metallurgical testwork and associated
studies. The MRE work will also provide inputs into the Application for
Recovery of Minerals Permit (the "Recovery Permit") process as announced 1
September 2025.(7, 8)
Background
The Winston Tailings Project entails a series of workstreams to quantify,
evaluate and permit the contained high-grade gold (Au), gallium (Ga), silver
(Ag), zinc (Zn), copper (Cu) and cobalt (Co) and other recoverable minerals
located within the historic Winston Lake Mine tailings storage facility
(Figure 2). Based on historic processing recoveries it is believed that a
significant quantity of valuable material was not captured and remains in the
tailing storage facility. Reprocessing the mine tailings, potentially offers
Panther the opportunity to unlock residual metal value and contribute to the
long-term environmental rehabilitation of the Winston Project site.
The Winston Lake Mine was operational from 1988 to 1998, producing
approximately 3.3 million tonnes of ore and yielding zinc, copper, silver, and
gold. Based on historic recoveries from mining activities in the 1980s and
1990s, it is believed that a significant quantity of valuable material remains
in the tailing storage facility.
Source: NI 43-101 Technical Report Feasibility Study for the Superior Zinc and
Copper Project, 2021. Site is connected to high-voltage grid power.
Figure 2: Existing Infrastructure at Winston Tailings Storage Facility
Qualified Person Statement
Technical information in this announcement has been prepared by Nicholas
O'Reilly BSc (Hons) MSc DIC MIMMM (QMR) MAusIMM FGS, a director of the
Company. He has over 20 years' experience in mining, exploration and
development across all major commodities and is a Qualified Person ("QP") as
defined in NI 43-101 and is the Competent Person for UK Listing Rules
purposes.
References
1. Panther Metals PLC, announcement, Winston Tailings
Project: Sample Collection Complete, dated 16 March 2026 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/xjl3qkw )
2. Panther Metals PLC, announcement, Winston Tailings
Project: Batch 1 Assay Results, dated 28 April 2026 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/xe41yjw )
3. Panther Metals PLC, announcement, Winston Tailings
Project: Batch 1 Assay Results, dated 14 April 2026 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/wvyzp0w
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/wvyzp0w)
)
4. Panther Metals PLC, announcement, Winston Tailings
Project: Batch 1 Assay Results, dated 19 March 2026 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/w6jpjkx )
5. Panther Metals PLC, announcement, Winston Tailings
Project: Batch 1 Assay Results, dated 17 March 2026 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/xo9z89x )
6. Panther Metals PLC, announcement, Winston Tailings
Assays Confirm Gold, Gallium, Silver, Zinc, Copper & Cobalt, Tailings
Sample Assay Results Exceed Expectations, dated 31 July 2025 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/w00eo6w
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/w00eo6w)
)
7. Panther Metals PLC, announcement, Winston Tailings
Project Update and Warrant Expiry, Permitting Process Commenced. Warrant
Expiry Notice , dated 1 September 2025
( https://polaris.brighterir.com/public/panther_metals/news/rns/story/x20od6r
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/x20od6r)
)
8. Recovery of Minerals Permitting process details
available at https://www.ontario.ca/page/recovery-minerals
(https://www.ontario.ca/page/recovery-minerals)
For further information, please contact:
Panther Metals PLC: +44 (0)1462 429743
+44 (0)7971 957 685
Darren Hazelwood, Chief Executive Officer:
Brokers:
Optiva Securities Limited +44 (0)20 3137 1902
Christian Dennis
Mick McNamara
Hybridan LLP +44 (0)20 3764 2341
Claire Louise Noyce
SI Capital Limited +44 (0)1438 416 500
Nick Emerson
Obonga Project - Advancing a High-Impact VMS and Critical Minerals District
Panther Metals' Obonga Project in Ontario continues to demonstrate strong
potential as a district-scale exploration opportunity targeting base and
critical minerals. Since acquiring the Obonga Greenstone Belt in July 2021,
the Company has advanced multiple high-priority targets including Wishbone,
Awkward, Survey, Ottertooth, and Silver Rim.
On 9 February 2026 Panther announced plans for an approximately 2,000-metre
diamond drilling program at the Wishbone Prospect, following the grant of an
Exploration Permit in June 2024 valid through 2027. Previous work confirmed
compelling VMS-style mineralisation, including 27.3m of massive sulphide and
51m of sulphide-dominated mineralisation across multiple lenses, supported by
high-grade copper anomalies in lake sediments.
In July 2024, Panther secured an Exploration Permit for Awkward West, enabling
up to 31 drill holes. Historic drilling returned 27.2m at 2.25% TGC, with
zones exceeding 5% TGC, alongside indications of nickel, copper, and platinum
group elements, aligning with the Company's critical minerals strategy.
High-resolution magnetic and electromagnetic surveys continue to refine drill
targeting across Obonga. Survey and Ottertooth remain highly prospective,
hosting multiple untested geophysical anomalies and historic massive sulphide
intercepts.
Winston Tailings Project - Tailings Evaluation and MRE Pathway
Panther Metals' Winston Project represents a near-term, development-focused
opportunity centred on the evaluation of historic mine tailings and has been
the subject of prior technical and commercial assessment involving Extrakt.
Current work is focused on tailings sampling, metallurgical testing, and data
validation to define metal content, recoverability, and support the
preparation of a NI 43-101 compliant Mineral Resource estimate (MRE). This
approach provides a clear value-creation pathway with lower geological risk
than greenfield exploration and aligns with modern reprocessing and critical
mineral's themes.
Dotted Lake Project - Hemlo-Adjacent Polymetallic Opportunity
Panther Metals' Dotted Lake Project, acquired in July 2020, is located
approximately 16km from Barrick Gold's Hemlo Mine, within a well-established
mining region.
Early exploration identified multiple gold and base metal anomalies, with
initial drilling confirming gold mineralisation. In early 2025, follow-up
drilling materially advanced the project, confirming nickel and magnesium
mineralisation within an ultramafic intrusion and identifying a VMS-style
system, significantly expanding the project's polymetallic potential.
The program refined structural controls, extended mineralisation, and
identified multiple new drill targets, positioning Dotted Lake as a
high-upside, multi-commodity exploration asset.
Commercial Strategy - Focused Value Creation
Panther Metals is focused on disciplined, discovery-driven value creation
through efficient capital deployment and technical execution. With Obonga
delivering high-impact exploration, Winston providing a resource-focused
development pathway, and Dotted Lake offering polymetallic upside, the Company
maintains a balanced portfolio aligned with favourable commodity market
conditions.
The Company's strategy is to advance high-quality assets along the most
efficient technical pathway, delivering tangible milestones that underpin
long-term shareholder value.
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Copyright 2019 Regulatory News Service, all rights reservedRecent news on Panther Metals
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