Panther Metals (ASX:PNT) reports that assay results have returned a further ‘bonanza’ gold intercept of 1m at 62.8g/t gold from 91m at the Burtville East Gold Project.
The ‘staggering’ result was over a total intercept of 10m at 7.15g/t gold from 84m, with visible gold present in hole BVEDD001.
This drilling included intercepting a new shallow and broad ‘high-grade’ gold zone at the Burtville East Gold Project.
The new zone, discovered in hole BVE006, contained 15m at 54g/t gold from 27m, with peak bonanza gold grades of:
- 1m at 79.90g/t gold from 27m
- 1m at 478.00g/t gold from 28m
- 1m at 125.50g/t gold from 34m
- 1m at 43.80g/t gold from 35m
Addressing the results, Panther Managing Director and CEO Daniel Tuffin commented: “The team at Panther have achieved a staggering amount since listing in December last year, completing six separate drill programs across four projects located around the Laverton region of the Western Australian Gold Fields.
“This staggering intercept resulted from an initial campaign that consisted of just 6 reverse circulation (RC) holes for a total of 675 metres drilled”
This staggering intercept resulted from an initial campaign that consisted of just 6 reverse circulation (RC) holes for a total of 675 metres drilled. The drilling confirmed that a rethink on the prior accepted structural trend was required.
This latest round of drilling at Burtville East (Phase Two) for 577 RC metres and two diamond holes over a total of 147 metres, has returned further stunning grades, including 1m at 62.8g/t gold from 91 metres in BVE009 and visible gold was returned from diamond hole BVEDD001 at 48.6m down hole.
Phase two has further built on the growing Burtville East story and added confidence to the company’s new mineralisation trend modelling; Panther will now continue to review the results of this drilling with a view to further test the extent of the gold mineralisation at Burtville East with the next campaign.”
Panther reports Burtville East is 1 of 4 gold prospects located in the Merolia Gold Project that contains a dominant land holding over some of the region’s most prospective and under-explored ground covering an area of 90km-square.
The centre of the prospect area contains small underground workings along with mineralised stockpiles of historically rejected material ready for treatment. Historical grab samples from this altered mineralised zone have returned grades of up to 38.45g/t Au.
This latest round of drilling, phase two, consisted of 6 RC holes over a total of 577m and 2 diamond holes over a total of 147m. The program was designed to further test the company’s hypothesis that the Burtville East mineralisation is constrained by a series of sigmoidal tension gashes, and likely associated with a NW-NNW trending shear zone.
Panther Metals is an ASX-listed nickel-cobalt and gold explorer with drill-ready targets across 5 projects in the mining district of Laverton, Western Australia and two in the Northern Territory.
Write to Adam Orlando at Mining.com.au
Images: Panther Metals Limited
