Unveils JORC Compliant Exploration Target For Coglia Nickel-Cobalt Project
An internal historical data review undertaken by Panther Metals PLC (AIM:PALM) has led to the company commissioning an independent consultancy to set out a JORC 2012 Code compliant Exploration Target for the Coglia Nickel-Cobalt Project located at the southern end of the Merolia Gold Project in Western Australia.
The independent historical data review undertaken by Geomin Services Pty Ltd has considered the results of two historical exploration drilling campaigns undertaken between 2001-2003 and in 2018 to set out an Exploration Target for Coglia of 30Mt-50Mt of nickel-cobalt laterite mineralisation, grading at between 0.6-0.8% nickel and 400-600ppm cobalt over an interpreted strike of approximately 5.5km.
Geomin told Panther it considers that, subject to the appropriate drill spacing and consistent sampling results, additional infill and extensional drilling into the Coglia nickel laterite mineralisation should provide good potential to upgrade the Exploration Target into a Mineral Resource.
Panther CEO, Darren Hazelwood, added that two deeper angled historical drill holes, encountered sulphide minerals below the laterite horizon in the underlying ultramafic rocks. The potential for any primary nickel-cobalt sulphide mineralisation will need to be assessed as part of any future studies.
“This is a stunning Exploration Target based on known mineralisation that has the potential to be a company maker, for which in-situ valuations support further project development,” Mr Hazelwood said.
“I am absolutely delighted with this result, the numbers speak for themselves, but we also draw confidence in this target being open at depth and along strike with sulphide minerals also encountered; the Coglia Nickel-Cobalt area is an extraordinary opportunity.
“These outcomes further reinforce the value of possessing Australian in-country expertise demonstrating a thorough approach to data handling and industry-standard practices.
“The internal review was carried out using drilling data, totalling 68 drillholes, from two separate companies that until now had not been compiled into a single database. This simple compilation indicated that commissioning an independent assessment was warranted, resulting in this significant nickel-cobalt Exploration Target at our Coglia Project.
“We will set out our planned next steps to advance the Coglia Nickel-Cobalt Project to the market shortly.”
For further information please visit: https://www.panthermetals.co.uk/
