REG - Panthera Resources - Completion of Drilling at Kalaka

Panthera ResourcesAnnouncement

21/08/2023 11:00

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RNS Number : 9319J  Panthera Resources PLC  21 August 2023

21 August 2023

 

 

Panthera Resources Plc

("Panthera" or "the Company")

 

Completion of Drilling at Kalaka Project

 

Panthera Resources Plc (AIM: PAT), the diversified gold exploration and
development company with assets in West Africa and India, is pleased to
announce that the drilling programme at the Kalaka Project in Mali has ended
with all samples shipped to the laboratory.

 

Drilling Programme Summary

·       Completed 8 reverse circulation (RC) drill holes for 705 metres
advance

·       Completed drill holes at the K1A prospect in support for future
mineral resource estimation and metallurgical testing

·       Programme interrupted due to heavy rain - the planned northern
exploration holes will be tested at a later date

·       Samples  have been submitted to the SGS Laboratory in Bamako
with results expected  in late September

 

Background

 

Kalaka is a joint venture which the Company and DFR Gold Inc are directly
interested in through a joint 50:50 ownership interest in Maniger Ltd, a
British Virgin Islands holding company.  Kalaka is operated by the Company.
Panthera and DFR both respectively hold 40% indirect interests in Kalaka with
a local Mali company, Golden Spear Mali SARL, owning the balancing 20%.

 

The project is located in southeast Mali, between the Morila and the Syama
gold mines approximately 260 km southeast of Bamako. It lies approximately 80
km south of Morila (8Moz gold) and 85 km northwest of Resolute's Syama mine (6
Moz gold).  The project is situated adjacent and to the east of the regional
Banifin Shear Zone where the strike direction of the foliation is
approximately N40° with a dip of 60° to the northwest.

 

Modern exploration has included airborne geophysical surveys, soil sampling,
structural interpretations, geological mapping, and preliminary drilling
activities focussed on the metasediments.  This has included diamond, air
core (AC), reverse circulation (RC) and Rotary Air Blast (RAB) drilling.
 During 2021 Panthera completed 2,430m of shallow AC drilling. On the K1A
prospect multiple intersections exceeding 150m at 0.5 g/t have been identified
by Diamond and RC drilling.

 

The primary mineralisation at the K1A prospect, is associated with an
intrusive tonalite / micro granodiorite within metasediments. The alteration
envelope is dominantly characterised by silica-feldspar flooding and sulphide
mineralisation. Elsewhere there are also numerous artisanal workings within
the Kalaka tenement, mainly targeting eluvial gold.

 

Contacts

 

Panthera Resources PLC

Mark Bolton (Managing
Director)
+61 411 220 942

 
contact@pantheraresources.com

 

Allenby Capital Limited (Nominated Adviser & Joint
Broker)             +44 (0) 20 3328 5656

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Kelly Gardiner / Stefano Aquilino (Sales & Corporate
Broking)

 

Novum Securities Limited (Joint
Broker)
+44 (0) 20 7399 9400

Colin
Rowbury

 

Subscribe for Regular Updates

 

Follow the Company on Twitter at @PantheraPLC
(https://twitter.com/PantheraPlc)

 

For more information and to subscribe to updates visit: pantheraresources.com
(http://pantheraresources.com)

 

Qualified Person

The technical information contained in this disclosure has been read and
approved by Ian S Cooper (BSc, ARSM, FAusIMM, FGS), who is a qualified
geologist and acts as the Qualified Person under the AIM Rules - Note for
Mining and Oil & Gas Companies.  Mr Cooper is a geological consultant to
Panthera Resources PLC.

 

UK Market Abuse Regulation (UK MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information for the purposes of Regulation 11 of the Market
Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this
announcement via a Regulatory Information Service ("RIS"), this inside
information is now considered to be in the public domain.

 

Forward-looking Statements

This news release contains forward-looking statements that are based on the
Company's current expectations and estimates. Forward-looking statements are
frequently characterised by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other
similar words or statements that certain events or conditions "may" or "will"
occur. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or results to
differ materially from estimated or anticipated events or results implied or
expressed in such forward-looking statements. Such factors include, among
others: the actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans continue to be
refined; possible variations in ore grade or recovery rates; accidents, labour
disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing; and fluctuations in metal prices. There
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are not
guarantees of future performance and accordingly, undue reliance should not be
put on such statements due to the inherent uncertainty therein.

 

**ENDS**

 

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