Panther Metals Ltd’s (ASX: PNT) initial assay results have returned high nickel and cobalt grades resulting from drilling at the Coglia Project near Laverton in Western Australia.
Managing Director, Daniel Tuffin, said these are the company’s first drilling results since listing in December 2021.
“I am exceedingly pleased with these results. This positive outcome is well received, particularly given that it has been just 80 days since Panther listed on the ASX,” Mr Tuffin said.
“In this short time at Coglia, we have almost completed our maiden 6,000m RC programme and discovered an extension to the historic nickel and cobalt mineralisation zone.
“The significantly high grades of nickel and cobalt encountered within thick zones of lateritic mineralisation were intersected both inside and outside of the current Exploration Target.
“We are looking forward to releasing the full results of the Coglia drill program in due course. Our broader regional program of exploration continues to progress as planned; once drilling is concluded at Coglia the rig and exploration team will move immediately to the Eight Foot Well gold prospect with the intention of identifying the potential for a shallow gold resource.
“This drilling adds another dimension to the Panther portfolio and we are excited to turn our focus to gold exploration and take advantage of recent record gold price highs while we look to complete a Mineral Resource estimate to JORC guidelines at Coglia in the interim.”
Drill Results
The first round of assays returned exceptional results within a mineralised lateritic horizon:
• CGRC001: 11m at 0.67% Ni from 63m, inc. 1m at 1.39% Ni
• CGRC002: 15m at 0.99% Ni, from 66m inc. 2m at 1.66% Ni and 2m at 1,145ppm Co
• CGRC003: 21m at 1.23% Ni, from 79m inc. 2m at 3.01% Ni and 8m at 1,531ppm Co, inc. 2m at 2,305ppm Co
• CGRC004: 17m at 0.75% Ni from 63m, inc. 2m at 1.22% Ni
• CGRC024: 14m at 1.17% Ni, from 49m inc. 1m at 3.44% Ni and 1,460ppm Co.
3,478 samples remain in the laboratory awaiting analysis.
Once the Coglia drill programme is complete, the company will commence a Mineral Resource estimate to JORC guidelines and the drill rig at Coglia will move onto the Eight Foot Well gold prospect, with the intention of identifying the potential for a shallow gold resource.
The Coglia Project is located in the Laverton region of WA, 70km east of Glencore’s Murrin Murrin Ni-Co plant. The project area is highly prospective for nickel-cobalt laterite mineralisation and the potential to host nickel sulphide mineralisation.
For further information please visit: https://panthermetals.com.au/
