Panther Metals (ASX:PNT) has completed its first drilling campaign within the 40 Mile Camp prospect on the Picnic Ridge target.
The $6.37 million market capitalisation company reports the 1,800m aircore program was designed to systematically test the first of many anomalous targets generated from exploration of the greater area by the company.
Drilling has intercepted ‘highly anomalous’ zones of gold mineralisation, open at depth and along strike, indicating potential to further grow Picnic Ridge.
Panther says the intercepts also validate the need to follow-up on the deeper 3D inversion targets in the area and provide significant confidence to the company’s wider exploration model for the 40 Mile Camp and 40 Mile Camp East prospect areas.
The 40 Mile Camp and 40 Mile Camp East prospects cover areas of some 25km-square respectively. Located about 65km southeast of Laverton, they lie within a mineralised corridor containing several gold and nickel prospects, including the Coglia Nickel-Cobalt Project, held by Panther, and stretching over 40 kilometres along a northwest-southeast trend within the north-eastern Goldfield Province of the Yilgarn Craton.
This contiguous tenement package to date contains three significant exploration stage prospects (Burtville East, Ironstone and Comet Well), each of which have been independently reviewed and drill tested by Panther.
The 40 Mile Camp target, located in tenement (E38/3384), has the potential to be the most significant target within this mineralised corridor to date, Panther says.
Write to Adam Orlando at Mining.com.au
Images: Panther Metals
