REG - Panthera Resources - Kalaka Project Drilling Assay Results

Panthera ResourcesAnnouncement

09/10/2023 07:00

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RNS Number : 3892P  Panthera Resources PLC  09 October 2023

9 October 2023

 

Panthera Resources Plc

("Panthera" or "the Company")

 

Kalaka Project Drilling Assay Results

 

Panthera Resources Plc (AIM: PAT), the diversified gold exploration and
development company with assets in West Africa and India, is pleased to
announce the assay results from the recent drilling programme at the Kalaka
Project in Mali, details of which were announced by the Company on 21 August
2023.

 

Highlights

·       Drill assay results (based on 2m sampling intervals) include:

o  76 metres at 0.53 g/t Au (includes 10 metres at 1.16 g/t Au) in hole
KRC_23_005

o  34 metres at 0.50 g/t Au in hole KRC_23_006

o  85 metres at 0.52 g/t Au in hole KRC_23_007 (includes 12 metres at 1.62
g/t Au to End of the hole)

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

·       Completed drill holes to complement existing diamond and
reverse circulation drilling at the K1A mineralisation - twin hole results
comparable with historical drill holes assays.

·       Programme interrupted due to heavy rain with the proposed
northern exploration holes currently untested.

 

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

 

http://www.rns-pdf.londonstockexchange.com/rns/3892P_1-2023-10-9.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3892P_1-2023-10-9.pdf)

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

 

Background

 

Panthera and DFR Gold Inc (DFR) each have 40% interest in Kalaka held through
their interest in Maniger Ltd. The remaining 20% interest is owned by a local
partner, Golden Spear Mali SARL. Panthera is the operator of the project.

 

The project is located in southeast Mali, between Morila and Syama gold mines
and is approximately 260 km southeast of Bamako. It lies approximately 80 km
south of the Morila gold mine (8m oz) and 85 km northwest of Resolute's Syama
gold mine (6m oz) and is situated adjacent and to the east of the regional
Banifin Shear Zone.

 

Modern exploration has included airborne geophysical surveys, soil sampling,
structural interpretations, geological mapping, and drilling activities.
 This has included diamond (DD), 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 in contact with altered 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.

 

 

Drilling Results

 

The company has completed 8 reverse circulation drill holes for 705 metres
advance at the K1A Prospect at the Kalaka Project in Mali. Fire assay results
have been received for all samples submitted to the SGS Laboratory located in
Bamako.

 

Significant mineralisation was intersected in the drilling at the K1A
prospect, including in KRC_23_007 12 metres to the end of the hole grading
1.62 g/t Au. Mineralisation seen in the new drilling is comparable to
historical drilling in the two drill holes drilled for comparison purposes.
The twinned holes were as follows:

·    historical hole K1RC4 to current hole KRC_23_006; and

·    historical hole K1ARC028 to current hole KRC_23_007.

 

Table 1 below lists significant gold intersections.

 

Table 1

 HOLE_ID     Interval (m)  m From To  m To  Au g/t
 KRC_23_002  60            18         78    0.31
 inc         10            54         64    0.62
 inc         2             54         56    1.41

 KRC_23_003  31            30         61    0.20

 KRC_23_004  60            4          64    0.31
 inc         34            12         46    0.40

 KRC_23_005  76            6          82    0.53
 inc         10            18         28    1.16
 and         22            34         56    0.55

 KRC_23_006  74            4          78    0.38
 inc         34            14         48    0.50
 Compare Historical hole K1RC4 to KRC_23_006
 K1RC4       85            10         95    0.58

 KRC_23_007  85            10         95    0.52
 inc         12            38         50    0.74
 and         10            56         66    0.55
 and         12            82         94    1.62
 Compare Historical hole K1ARC028 to KRC_23_007
 K1ARC028    74            4          78    0.61

 

The following table lists the completed drill holes:

 

Table 2

 mE      mN       BH_ID       AZ   DIP  RL      EOH   TYPE
 743669  1233498  KRC_23_010  120  -60  335     120   RC
 743015  1232840  KRC_23_002  120  -60  334     96    RC
 743077  1232804  KRC_23_001  120  -60  334     120   RC
 742960  1233062  KRC_23_003  120  -60  334     61    RC
 743015  1233030  KRC_23_004  120  -60  334     53    RC
 743065  1233005  KRC_23_005  120  -60  334     82    RC
 743040  1233072  KRC_23_006  120  -55  335.1   78    RC
 743030  1232970  KRC_23_007  120  -60  335.6   95    RC
                                        TOTAL:  705m

 

All assays referenced here are for 50g Fire Assay analyses performed by SGS
Laboratories in Bamako.  All samples reported here were two-metre primary
samples.

 

 

 

Contacts

 

 Panthera Resources PLC                                                                                                                                                                                                  +61 411 220 942


 Mark Bolton (Managing Director)                                                                                                                                                                                         contact@pantheraresources.com

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

 John Depasquale / Vivek Bhardwaj (Corporate Finance)

 Guy McDougall / Kelly Gardiner (Sales & Corporate Broking

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

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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.

 

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