Big Bear - Commencement of Field Exploration

RNS Number : 1886M

Panther Metals PLC

07 May 2020

 

FOR IMMEDIATE RELEASE

PANTHER METALS PLC

07 May 2020

Big Bear Project - Commencement of Field Exploration Programme

Panther Metals PLC (LSE:PALM) ("Panther" or the "Company"), the company focused on mineral exploration in Canada and Australia, is pleased to announce the commencement of a three week field exploration programme on the Big Bear, gold focused, property in Ontario, Canada, this weekend.

Canada - Big Bear Gold Project

· Three-week work sampling and mapping programme to build our understanding of possible drill and trench targets is commencing on 10 May.

· Work will target both orogenic gold and volcanogenic massive sulphide ("VMS") style mineralisation, including;

o  Verification and extension of a possible gold hosting vein system indicated by Panther soil sampling in the eastern part of the Big Bear property.

o  Extending historic sampling in the Johnston-McKenna area where previous high grade outcrop samples have yielded 1,038.9 g/t Au, 390.2 g/t Au, 318.9 g/t Au, 286.29 g/t Au and 224.9 g/t Au.

o  Building on historic sampling in the Joa-Walton area where the highest grade outcrops yielded 233.1 g/t Au, 198.9 g/t Au, 143.7 g/t Au, 79.5 g/t Au and 46.6 g/t Au.

o  Delineating possible structural related extensions to mineralisation at the Little Bear Mine where a 1 ton bulk sample processed in the late 1930's reported equivalent gold grade of 1,564 g/tonne Au.

· Work will be undertaken by Ontario resident geological contractors who are responsible for operating within the current provincial  framework of advice and regulation pertaining to the COVID-19 pandemic.

Darren Hazelwood, CEO, commented,

" The Big Bear project is located in one of the most prospective greenstone belts for gold exploration in the world. The Project demonstrates extensive and varied historical exploration and evidence of small scale mining operations in multiple locations.

The exploration and mining dataset is fragmented, and it is our task to draw this  knowledge base together and implement further exploration work to consolidate our understanding of the Project's potential.

It is therefore very positive to be launching the next stage of ground exploration at such an early stage in the season and I look forward to updating the market on progress".

Panther Metals PLC:

Darren Hazelwood, Chief Executive Officer:   [phone] and [phone] 

Mitchell Smith, Chief Operating Officer:   [phone]

Brokers:

SI Capital Limited

Nick Emerson  [phone]

Peterhouse Capital Limited

Guy Miller and Duncan Vasey  [phone]

 

END

 

 

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