Join our daily newsletter At The Bell to receive exclusive market insights
- Pantera Minerals (PFE) completes phase one diamond drilling at the Hellcat project in Western Australia
- Four diamond holes were drilled across four targets with hydrothermal alteration and veining zones identified in all holes
- Samples have been sent to the lab for assay with results expected in eight weeks and all four holes are undergoing downhole electromagnetic surveys to test for conductors
- Pantera ends the day 9.09 per cent in the green with shares trading at 12 cents
Pantera Minerals (PFE) has completed phase one diamond drilling at the Hellcat project in Western Australia.
Four diamond holes, for 1832.7 metres, were drilled across four targets with hydrothermal alteration and veining zones identified in all holes.
The presence of hydrothermal alteration as well as silica, chlorite and magnetite has provided further confidence of intense fluid flow.
Despite the presence of no significant base metal mineralised zones, there is evidence that suggests hydrothermal activity with metalliferous fluids occurred at all target areas.
Samples have been sent to the lab for assaying with results expected in eight weeks.
Additionally, all four holes are undergoing downhole electromagnetic surveys to test for on and off-hole conductors.
Pantera is now planning large-scale mapping and geochemical sampling programs over the entire Hellcat project to aid with future drill targeting.
“The recently completed drilling has been a positive first step in subsurface exploration within the Hellcat project area, and we eagerly await the assay results,” CEO Matt Hansen said.
“We look forward to progressing the project through further systematic exploration and building on the geological model developed by our in-house geology team.”
Pantera has ended the day 9.09 per cent in the green with shares trading at 12 cents.
