Panther Metals (ASX:PNT) reports its Coglia nickel-cobalt resource now stands at 102.8 million tonnes at 0.60% nickel and 370ppm cobalt, containing 614,000 tonnes of nickel and 37,700t of cobalt (indicated and inferred).
The company is now awaiting results from its heap-leach testwork and Scoping Study, due over the next few months.
The update represents a 30% increase in total nickel tonnes in comparison to the Company’s maiden 2022 MRE.
Panther says confidence in the resource has greatly increased, with over 23Mt of nickel now classified as Indicated in accordance with the JORC Code (2012). Deeper extensional drilling has defined 2 distinct lithologies within the resource – a lateritic top layer and a deeper weathered ultra-mafic lower layer, the majority of which remains open at depth.
Three new extensional exploration targets are open for testing around South Coglia, while the existing ‘East’ exploration drill target continues to remain largely untested, noting that the first exploration hole into this area encountered potential evidence of in-situ nickel-sulphide style mineralisation.
Write to Adam Orlando at Mining.com.au
Images: Panther
