Panther Metals (ASX: PNT) has reported ‘high-grade’ nickel and cobalt assays following an RC drilling campaign at its Coglia Project in Western Australia’s Laverton region.
The results include the highest recorded cobalt levels to date for the project, with grades up to 1m @ 3.77% Ni and 1m @ 3,160ppm Co achieved. Additional key results include:
- Hole CGRC032: 21m @ 1.34% Ni from 72m inc. 12m @ 1.87% Ni from 74m and 1m @ 3.77% Ni from 74m, and 8m @ 833ppm Co from 78m and 1m @ 1,200ppm Co from 81m
- Hole CGRC006: 12m @ 1.03% Ni from 47m, inc. 7m @ 1.14% Ni from 49m and 5m @ 1812ppm Co from 47m, inc. 1m @ 3,160ppm Co from 49m
- Hole CGRC005: 25m @ 0.97% from 56m, inc. 3m @ 1.47% Ni from 61m and 1m @ 2.13% Ni from 69m
- Hole CGRC035: 11m @ 0.66% Ni from 51m and 1m @ 0.93% Ni from 69m and 2m @ 600ppm Co from 52m
- Hole CGRC016: 13m @ 0.52% Ni from 58m and 1m @ 0.58% Ni from 79m and 5m @ 528ppm Co from 52m
Speaking on the results, Panther Metals Managing Director Daniel Tuffin said: “Due to the amount of meticulous work and planning carried out prior to drilling the Coglia Ni-Co deposit by our team, I am not surprised with these results. However, I remain exceedingly pleased with these increased peaks in nickel and cobalt grades and the continued consistency in the thickness of the mineralised zone in which they reside.
“we have discovered an extension to the historic nickel and cobalt mineralisation zone and encountered significantly high grades of nickel and cobalt”
We have almost completed our maiden 6,000m RC program at Coglia, with about half of the holes assayed. During this time, we have discovered an extension to the historic nickel and cobalt mineralisation zone and encountered significantly high grades of nickel and cobalt within thick zones of lateritic mineralisation both inside and outside of the current Exploration Target.
Drilling is due to be complete at Coglia by the end of the month, at which point the rig and crews will move to our Eight Foot Wall Gold project to begin a 2,500m RC infill program.
The company will look to create a maiden Mineral Resource estimate to JORC guidelines at Coglia once all outstanding assays have been received.”
Panther also noted that a key target has been uncovered, extending from the current mineralisation zone, which hosts ‘significant high-grades’ of nickel-cobalt mineralisation both inside and external to the current exploration target.
With the current drilling campaign expected to be completed by the end of the month, the company reports that it will move forward with 2,500m of RC drilling at the Eight Foot Wall Gold Project.
A 2012 JORC complaint Mineral Resource Estimate is expected to be delivered for the Coglia Project once all outstanding assay results have been received.
