Panther Metals (ASX:PNT) have uncovered 3 new ‘significant’ gold targets through auger drilling undertaken at the Comet Well South prospect, as part of the Laverton Gold Project in Western Australia.
The ‘largest’ target is a 900m by 200m gold anomaly peaking at 50 times ‘greater’ than has background gold levels found within the Laverton project area.
Follow-up groundwork is being planned to further develop these targets for drill testing.
Panther says these targets may prove to be the missing piece of the Laverton project’s puzzle, lying on trend and in the middle of a gold corridor that now extends over 30km. The company notes these targets have never been drilled.
Managing Director and Chief Executive Officer (CEO) Daniel Tuffin says the anomalies uncovered both infill and provide more evidence of a ‘substantial’ mineralised gold corridor extending over 30km.
“This is an exciting opportunity for the company to explore a ‘belt-scale’ gold project, endowed with immense potential but relatively little historical work.
The exploration team is currently completing a full geological evaluation of the entire gold corridor to refine and rank the many identified targets, implement new work programs including drilling and fast-track the opportunity to make new discoveries.”
Further, Panther recently acquired a ‘key’ tenement within the Comet Well South area enabling control of the full strike extent of known mineralisation along the project belt.
The consideration payable to acquire the tenement was $25,000.
Tuffin adds that this strategic acquisition of new south completes the tenement portfolio.
“The acquisition opens up opportunities for us to explore new targets and further develop existing prospects such as Burtville East, Comet Well, and the recently discovered Picnic Ridge prospect into JORC compliant gold resources, all under our full ownership.”
Panther Metals is a gold and nickel explorer focused on its assets in Western Australia and the Northern Territory.
As of 31 December 2023, the company had $1.044 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Panther Metals
