Panther Metals (ASX:PNT) is shifting its focus to the next crucial step of work at its flagship Coglia Nickel-Copper Project in Western Australia — the receipt and review of assay results.
Panther reports is awaiting the return of assays from a second reverse circulation (RC) drilling campaign at Coglia, which will provide further insights into the potential of its projects.
The $6.63 million market capitalisation company reports the RC campaign at Coglia aimed to grow the 70.6 million tonne nickel-cobalt inferred mineral resource by focusing on the Southern JORC Exploration Target (JET) and East drill targets.
Additionally, the company completed a maiden aircore (AC) drilling campaign at its 40 Mile Camp Project, which aimed to test many anomalous gold and nickel targets within an area over 25km-square.
Panther also completed 2 auger programs across 378 holes to a depth of 3m at Mt Goose prospect, targeting ‘lightly’ tested areas, as well as areas untested for geochemical anomalism, respectively.
Mt Goose historically produced a peak soil sample of 1.5% nickel and features an untested section of the Comet Well South target area that covers a ‘highly’ anomalous historic gold trend.
Commenting on the drilling programs, Panther Metals Chief Executive Officer (CEO) and Managing Director Daniel Tuffin says: I am thrilled to announce the successful completion of our drill programs at Coglia, 40 Mile Camp, Mt Goose, and Comet Well South in the Laverton region.
Our dedicated onsite team has once again demonstrated their commitment and expertise, streamlining the entire process through efficient scheduling and site preparation best practices. This approach has enabled us to complete these crucial programs in a timely and cost-effective manner.
“We are optimistic about the possibilities that lie ahead and hope to share further exciting news with our stakeholders in the coming months”
With the latest phase of drilling now behind us, our focus shifts to the next crucial step — the receipt and review of assay results that will provide us with further valuable insights into the potential of these projects. We are optimistic about the possibilities that lie ahead and hope to share further exciting news with our stakeholders in the coming months.”
Panther Metals is an ASX-listed nickel-cobalt and gold explorer with drill-ready targets across its 5 projects in the Laverton region of Western Australia, and the Northern Territory.
The company’s portfolio includes the Coglia and Red Flag Nickel-Copper projects, as well as the Merolia and Mikado Gold projects in Western Australia, along with the Annaburroo and Marrakai Gold projects in the Northern Territory.
As of 30 June 2023, the company had $2.821 million cash at hand, according to its latest quarterly report published on 26 July 2023.
Write to Harry Mulholland at Mining.com.au
Images: Panther Metals Ltd
