TIDMPAT
RNS Number : 6148T
Panthera Resources PLC
26 March 2021
26 March 2021
Panthera Resources plc
("Panthera" or "the Company")
Bassala Exploration Update - Completion of Soil Sampling and
Initiation of IP Surveying
Panthera Resources Plc (AIM: PAT), the diversified gold
exploration and development company with assets in West Africa and
India, is pleased to announce that soil sampling has now been
completed at its Bassala Project in Mali. Given the positive
results, the Company has fast-tracked the next phase of
exploration. In this regard and following the outstanding success
in defining drill targets at the Kalaka project, an Induced
Polarisation (IP) survey has commenced this week at Bassala.
Highlights
-- Soil sampling programme completed, with a total of 1,200 samples collected
-- Results confirm that two major gold anomalous trends are
present, one 9km long north-northeast trending zone plus a second,
cross-cutting, 3km long northwest trending zone, with assay results
up to 4,030ppb Au (4.03g/t Au)
-- These zones appear to be continuations of regional mineralisation trends
-- Very broad spaced rotary air blast (RAB) drilling by previous
explorers has confirmed significant gold mineralisation within
these zones with results including 21m @ 1.15g/t Au from 15m from
near the intersection of the two trends
-- IP survey has been initiated covering these two gold anomalous trends
-- First results are expected in April 2021
Further information on the Bassala results was announced on 25
January 2021.
Commenting on the announcement, Mark Bolton, Managing Director
of Panthera said:
"The excellent soil sampling results, almost within sight of the
headframe of two-plus 2Moz gold mines, is encouraging. The fact
that previous very broad spaced shallow RAB drilling has confirmed
significant gold mineralisation beneath the soil anomalism
significantly adds to the emerging picture of a potentially
substantial gold system.
The success of the recent IP survey at our Kalaka project has
resulted in the geophysical crew being re-located to this project
in order to firm up drill targets for testing. Results from the IP
survey are eagerly awaited, and preliminary planning has commenced
securing a suitable drill rig to test the better targets at
Bassala."
A PDF version of the announcement, inclusive of images, can be
found on the Company's website or by following the links below:
http://www.rns-pdf.londonstockexchange.com/rns/6148T_1-2021-3-26.pdf
www.pantheraresources.com/news/regulatory-news/
Bassala Exploration Update
The Bassala gold project is located in southern Mali,
approximately 200km south of the capital city Bamako and within
seven kilometres of the large Kodieran and Kalana gold mines.
Information has been compiled from publicly available sources
and incorporated into a regional interpretation that suggests the
Bassala project is located on one of two main interpreted
structures, both of which have significant gold anomalies
associated with them
The soil sample results received to date confirm the regional
interpretation and show two main anomalous trends - a 9km
north-northeast to north-south trend (which is also supported by
trends of artisanal workings) and a northwest trend.
Significant gold mineralisation has already been confirmed by
previous explorers' very broad spaced (400m to >1km spaced drill
lines) historical RAB drill results that include:
-- 21m @ 1.15g/t Au from 15m including 3m @ 4.52g/t Au from 33m
-- 15m @ 0.56g/t Au from 3m to the end of the hole
-- 3m @ 0.78g/t Au from 21m to the end of the hole
-- 6m @ 0.49g/t Au from 39m to the end of the hole
-- 3m @ 1.55g/t Au from 9m
-- 3m @ 1.16g/t Au from surface
-- 3m @ 1.67g/t Au from surface
-- 6m @ 0.40g/t Au from 18m.
These drill results confirm there is significant gold
mineralisation beneath the gold-in-soil anomalies and suggest the
intersection of the two main trends may be one of the better
targets, returning up to 21m @ 1.12g/t Au from 15m including 3m @
4.52g/t Au.
The IP crew that recently finished work at the Kalaka project,
approximately 400km to the east, have now been mobilised to
Bassala. Based on the excellent success of the Kalaka survey in
defining direct drill targets, all of the areas of gold anomalism
in soils are proposed to be surveyed in a similar manner using
time-domain, gradient array IP. This will comprise 135 line
kilometres of IP survey, with the first results expected in
April.
This survey, combined with soil sampling, historical RAB
drilling, and the recent ground magnetic survey data should enable
targets to be better defined for drill testing in the coming
months.
Contacts
Panthera Resources PLC
Mark Bolton (Managing Director) +61 411 220 942
contact@pantheraresources.com
Allenby Capital Limited (Nominated Adviser & Broker) +44 (0)
20 3328 5656
John Depasquale / Asha Chotai (Corporate Finance)
Guy McDougall (Equity Sales)
Financial Public Relations
Vigo Communications Ltd +44 (0)20 7390 0230
Simon Woods / Chris McMahon
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www.pantheraresources.com
Qualified Person
The technical information contained in this disclosure has been
read and approved by Antony Truelove (BSc (Hon), MAusIMM, MAIG),
who is a qualified geologist and acts as the Competent Person under
the AIM Rules - Note for Mining and Oil & Gas Companies. Antony
Truelove is the COO of Panthera Resources PLC.
UK Market Abuse Regulation (UK MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of UK
MAR until the release of this announcement.
Forward-looking Statements
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterised by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
**ENDS**
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