- Panther Metals (PNT) encounters the highest nickel and cobalt grades to date in the final assays from its Coglia project in Western Australia
- The company is currently undertaking a 6000-metre infill drilling program aimed to yield materials for metallurgical, mineralogical and environmental studies and testwork
- Notably, the company intersected up to 3.97 per cent nickel and 7900 parts per million cobalt — the highest grades ever encountered at the project
- Panther is now progressing towards a maiden nickel-cobalt mineral resource estimate (MRE) for the project
- Shares in Panther are up 6.82 per cent and are trading at 24 cents
Panther Metals (PNT) has encountered the highest nickel and cobalt grades to date in the final assays from its Coglia project in Western Australia.
The Coglia project lies in the Laverton Region and is highly prospective for nickel-cobalt laterite mineralisation.
Panther is currently undertaking a 6000-metre infill drilling program aimed to yield materials for metallurgical, mineralogical and environmental studies and testwork.
The best intercepts came from hole CGRC054, which returned a 19-metre hit at 1.19 per cent nickel from 60 metres and a five-metre intersection at 2592 parts per million (ppm) cobalt from 62 metres.
These intersections included a one-metre zone with a peak grade of 3.97 per cent nickel and a one-metre zone grading 7900 parts per million (ppm) cobalt — the highest peak grades ever encountered at the project.
Managing Director Daniel Tuffin said today’s final set of assays validated the work the company had done in the lead up to its initial public offering on December 10 last year.
“Review of the combined assay results, in conjunction with the current exploration target,
suggests that the Coglia nickel-cobalt project has the potential to generate a substantial
nickel-cobalt resource during a time when global demand for nickel and cobalt is increasing markedly due to the demand-side dynamics of vehicle electrification in particular,” Mr Tuffin said.
Panther is now progressing towards a maiden nickel-cobalt mineral resource estimate (MRE) for the project.
Shares in Panther were up 6.82 per cent and were trading at 24 cents at 11:23 am AEST.