Northern Territory Geophysical Surveys - update

RNS Number : 7702X

Panther Metals PLC

06 May 2021

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE
6th May 2021

PANTHER METALS PLC

("Panther" or the "Company")

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

Completion of Northern Territory Geophysical Surveys

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada and Australia, is pleased to announce the completion of its airborne geophysical programmes on its 100%-owned Annaburroo and Marrakai gold projects in the Northern Territory.

Darren Hazelwood, Chief Executive Officer, commented:

"The completion of these airborne geophysical programmes marks an important point in the development of our Australian portfolio.  We now have full high-resolution geophysical data coverage of all of our licences in both the Northern Territory and Western Australia.  Once we complete the stitching of these new datasets to other contiguous datasets we will have full regional coverage, which will enable contextual exploration targeting across our licence areas.  This represents a cornerstone to our exploration strategy, which builds datasets systematically to improve on our ability to complete successful targeting and field follow-up."

Summary of Geophysical Programmes

The 1,715 line-km airborne geophysical survey over the Annaburroo and Marrakai gold project areas has recently been completed by Thomson Airborne Pty Ltd.  The high resolution survey, involving the collection of magnetic, radiometric and elevation data on a 50m line spacing and at a nominal flight altitude of 35m above ground, utilised a conventional fixed-wing platform.

Panther have engaged geophysical consultants, Core Geophysics, to undertake the raw data processing and to stitch the resultant outputs with other regional datasets.  The full suite of derivative geophysical data products will be utilised to guide the exploration targeting process in order for the Company to define specific areas of ground-based follow-up, geochemical sampling and geological mapping. 

Panther Metals PLC:

Darren Hazelwood, Chief Executive Officer:   [phone]

  [phone]

Mitchell Smith, Chief Operating Officer:    [phone]

Brokers:

SI Capital Limited

Nick Emerson    [phone]

 

END

 

 

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