ASX-listed exploration company Panther Metals (ASX:PNT) has defined ‘significant’ gold and nickel targets at the 40 Mile Camp prospect, located within Laverton Gold Field in Western Australia.
The company reports these targets were defined through reprocessing aeromagnetic survey data, and inversion modelling identified several potential intrusive bodies associated with large-scale deformation, which may localise mineralisation fluids. A detailed geochemical evaluation of 826 auger samples also defined gold and nickel anomalies which complement the geophysical targets.
The company says the 40 Mile Camp and 40 Mile Camp East targets have the potential to be the most ‘significant’ new discoveries to date in the area.
Commenting on the results, Panther Metals Chief Executive Officer (CEO) and Managing Director Daniel Tuffin says: “Following on from our recent positive HPAL (high-pressure acid leaching) bench testwork results at the Coglia Nickel-Cobalt Project, the company embarked on a comprehensive data review and subsequent detailed geological modelling exercise covering the greater 40 Mile Camp prospect area, located approximately 65km southeast of Laverton
Spanning a combined area of roughly 25km-square, new detailed geological modelling over the combined prospects indicates the potential for the discovery of a significant new gold and nickel district in the Laverton Gold Fields.
“Excitingly, the work identified additional targets, including those existing within the new 40 Mile Camp East prospect”
Excitingly, the work identified additional targets, including those existing within the new 40 Mile Camp East prospect. These targets are potential mineralised structural traps, primarily associated with interlayered tremolite schist (Aur) and metabasalt (Abb) units, which represent the most prospective and largely untested geological units in the area.
The company has subsequently designed an initial program to test these targets, with drilling expected to take place mid-year once the final requirement of a heritage survey is completed in May.”
Panther reports an initial drill program has been planned to test the 40 Mile Camp targets once the final heritage survey is completed. Assays from diamond drilling at the Ironstone Gold Project returned peak intercepts including IRN001 with 3m @ 1.61g/t Au from 105m, and IRN006 with 1.5m @ 1.85g/t Au from 45.5m.
A review of stratigraphic drilling at the Ironstone prospect has also revealed greenstone tremolite schist and metabasalt lithologies, adding confidence to the regional geological interpretations. Panther says future drilling at Ironstone will focus on the geophysical inversion targets to further confirm the extent of the target lithological units.
Panther Metals is an ASX-listed company focused on nickel-cobalt and gold exploration in Western Australian and the Northern Territory.
Images: Panther Metals Ltd
