REG - Panthera Resources - IP Survey at Bido Project

Panthera ResourcesAnnouncement

04/07/2022 09:30

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RNS Number : 1836R  Panthera Resources PLC  04 July 2022

4 July 2022

 

Panthera Resources Plc

("Panthera" or "the Company")

 

Commencement of IP Survey at Bido Project

 

Gold exploration and development company Panthera Resources Plc (AIM: PAT),
with assets in West Africa and India, is pleased to announce that it has
commenced an Induced Polarisation Survey ("IP") at the Bido Project in Burkina
Faso.

 

Highlights

·    IP survey has commenced, to cover the higher priority targets which
are accessible before the onset of the wet season in 3Q 2022

·    Bido Project comprises multiple gold prospects over the licence area,
including extensive recent and historical artisanal workings, and targets
identified by the previous drilling

·    The survey will build on Panthera's understanding of the geological
and geochemical framework of the entire area and is aimed  to prioritise
drilling activity planned for later in 2022

 

Commenting on the announcement, Mark Bolton, Managing Director of Panthera
said:

 

"The Bido project has existed in the shadow of Labola and Bassala for some
time.  It is the next step in the Company's value creation chain as we
advance our portfolio of opportunities in West Africa.

 

Bido is a large licence with a plethora of mineralised targets that require
prioritisation ahead of drilling.  The IP programme, which is expected to be
completed in coming weeks, is the final step ahead of planned drilling later
in 2022."

 

A PDF version of the announcement, inclusive of images, can be found on the
Company's website or by following the links below:

 

http://www.rns-pdf.londonstockexchange.com/rns/1836R_1-2022-7-4.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1836R_1-2022-7-4.pdf)

https://pantheraresources.com/news/regulatory-news/
(https://pantheraresources.com/news/regulatory-news/)

 

Technical Details of the Geophysical Survey

 

The Company has contracted SAGAX AFRIQUE SA to conduct a Gradient Array IP
survey over several grids located in the Bido licence area. The survey has now
commenced, and this first phase of the programme will be completed before the
onset of the wet season. The Company considers the geophysical technique will
better define targets for drilling to be commenced after the wet period when
combined with its geochemical and geological understanding of the area. will.
The work will consist of approximately 200 line km of Gradient Array (100m x
25m grids) over the Beredo and Somika areas with follow-up Pole - Dipole Array
IP/Resistivity Surveys (a = 50m, n =1 to 10) as appropriate to define drill
targets.

 

Summary of the Bido Project

 

The Bido permit in Burkina Faso is located on the Koudougou quadrangle some
125km WSW of the capital Ouagadougou. The tenement lies within the Boromo
greenstone belt which is principally composed of Paleoproterozoic Birimian
terrain within the West African Man Craton, consisting of volcano-sedimentary
and plutonic domains metamorphosed during the Eburnean period with even
younger intrusive bodies that have been intruded into both of these domains.
 This belt also hosts the Poura gold deposit (1 to 2 Moz), situated about 50
km to the SSW of the area, as well as numerous gold occurrences.  The Perkoa
VMS deposit is located about 35 km to the north of the area.

 

The penetrative structural fabric throughout is NE to NNE, with several phases
of quartz veining evident, some predominantly following this dominant fabric
of the greenstone belt lithologies while others are cross-cutting.

 

Recent Panthera Activities

 

In 2020-21, a soil survey was completed with 1,166 soil samples collected on
lines 200m part with samples collected every 50m along lines, together with
assays (refer RNS dated 9 February 2021).  Several high-grade gold in soil
assays were received including some individual, point samples:

 

-   26,500ppb Au (26.5g/t Au)

-   16,700ppb Au (16.7g/t Au)

-   4,150ppb Au (4.15g/t Au)

-   3,720ppb Au (3.72g/t Au)

-   3,060ppb Au (3.06g/t Au)

-   2,100ppb Au (2.1g/t Au)

 

These indicated a northwest trending zone approximately 2,500m long greater
than 32ppb Au with a 1,600m core area greater than 64ppb Au.

 

More recently, approximately 322 rock chip samples were collected from the
Beredo and Tiekouyou prospects pursuant to a geological mapping programme.
The survey identified several outcropping mineralised vein systems with 101
samples reporting >0.5g/t with better assays including:

 

-   42.2g/t Au

-   20.0g/t Au

-   13.6g/t Au

-   13.4g/t Au

-   10.9g/t Au

 

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)

 

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

Colin
Rowbury

 

Financial Public Relations

Vigo Consulting
Ltd
+44 (0)20 7390 0230

Oliver Clark / Chris McMahon

 

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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