Further Tenement Acquisitions

RNS Number : 0144B

Panther Metals PLC

07 June 2021

 

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FOR IMMEDIATE RELEASE

PANTHER METALS PLC

(Incorporated in the Isle of Man with company number 009753V)

7^th June 2021

Further Tenement Acquisitions at Red Flag Nickel-Cobalt Project

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada and Australia, is pleased to announce the application for two further exploration tenements, E39/2249 and E39/2250 ,  as part of an expansion program for our Red Flag Nickel-Cobalt Project. Situated in the prolific nickel-cobalt belt 25km west of Laverton, the Red Flag project lies between the historic Windarra South mine and the Glencore owned Murrin Murrin nickel cobalt plant, that last year reported production of 36,400 tonnes of nickel and 2,900 tonnes of cobalt.

Darren Hazelwood, Chief Executive Officer, commented:

"Through further investigation our local team were able to identify an opportunity to peg two more exploration leases in the Red Flag area. The leases appear to cover a potential trend starting at the Windarra South mine that extends northwest to the Woodline Well prospect, which is currently reporting 0.34Mt @ 1.25%Ni and held by Poseidon Nickel as part of their greater Mt Windarra area.

These two leases are an exciting addition to our Red Flag project. While owned by WMC, Windarra South produced 3.17Mt @ 1.35% Ni (42,646t nickel) over the life of mine in both open pit and underground operations. Not to mention the prime location; Laverton lies just 25km to the east and the Murrin Murrin Operations 25km to the south-west, both easily accessible via the Leonora-Laverton highway."

Panther Metals PLC:

Darren Hazelwood, Chief Executive Officer:   [phone]

                                                                                [phone]

Mitchell Smith, Chief Operating Officer:    [phone]

Brokers:

SI Capital Limited

Nick Emerson                                                           [phone]

 

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