TIDMPAT
RNS Number : 9319J
Panthera Resources PLC
21 August 2023
21 August 2023
Panthera Resources Plc
("Panthera" or "the Company")
Completion of Drilling at Kalaka Project
Panthera Resources Plc (AIM: PAT), the diversified gold
exploration and development company with assets in West Africa and
India, is pleased to announce that the drilling programme at the
Kalaka Project in Mali has ended with all samples shipped to the
laboratory.
Drilling Programme Summary
-- Completed 8 reverse circulation (RC) drill holes for 705 metres advance
-- Completed drill holes at the K1A prospect in support for
future mineral resource estimation and metallurgical testing
-- Programme interrupted due to heavy rain - the planned
northern exploration holes will be tested at a later date
-- Samples have been submitted to the SGS Laboratory in Bamako
with results expected in late September
Background
Kalaka is a joint venture which the Company and DFR Gold Inc are
directly interested in through a joint 50:50 ownership interest in
Maniger Ltd, a British Virgin Islands holding company. Kalaka is
operated by the Company. Panthera and DFR both respectively hold
40% indirect interests in Kalaka with a local Mali company, Golden
Spear Mali SARL, owning the balancing 20%.
The project is located in southeast Mali, between the Morila and
the Syama gold mines approximately 260 km southeast of Bamako. It
lies approximately 80 km south of Morila (8Moz gold) and 85 km
northwest of Resolute's Syama mine (6 Moz gold). The project is
situated adjacent and to the east of the regional Banifin Shear
Zone where the strike direction of the foliation is approximately
N40deg with a dip of 60deg to the northwest.
Modern exploration has included airborne geophysical surveys,
soil sampling, structural interpretations, geological mapping, and
preliminary drilling activities focussed on the metasediments. This
has included diamond, air core (AC), reverse circulation (RC) and
Rotary Air Blast (RAB) drilling. During 2021 Panthera completed
2,430m of shallow AC drilling. On the K1A prospect multiple
intersections exceeding 150m at 0.5 g/t have been identified by
Diamond and RC drilling.
The primary mineralisation at the K1A prospect, is associated
with an intrusive tonalite / micro granodiorite within
metasediments. The alteration envelope is dominantly characterised
by silica-feldspar flooding and sulphide mineralisation . Elsewhere
there are also numerous artisanal workings within the Kalaka
tenement, mainly targeting eluvial gold.
Contacts
Panthera Resources PLC
Mark Bolton (Managing Director) +61 411 220 942
contact@pantheraresources.com
Allenby Capital Limited (Nominated Adviser & Joint Broker) +44 (0) 20 3328 5656
John Depasquale / Vivek Bhardwaj (Corporate Finance)
Kelly Gardiner / Stefano Aquilino (Sales & Corporate
Broking)
Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9400
Colin Rowbury
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Qualified Person
The technical information contained in this disclosure has been
read and approved by Ian S Cooper (BSc, ARSM, FAusIMM, FGS), who is
a qualified geologist and acts as the Qualified Person under the
AIM Rules - Note for Mining and Oil & Gas Companies. Mr Cooper
is a geological consultant to Panthera Resources PLC.
UK Market Abuse Regulation (UK MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information for the purposes of
Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations
2019/310. Upon the publication of this announcement via a
Regulatory Information Service ("RIS"), this inside information is
now considered to be in the public domain.
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.
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MSCPBMLTMTITMIJ
(END) Dow Jones Newswires
August 21, 2023 05:46 ET (09:46 GMT)
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