- Panther Metals (PNT) encounters the highest grade nickel and cobalt grades to date at the Coglia Project in the Laverton Region of Western Australia
- The company is currently in the process of a 6000-metre infill drilling program aimed to yield materials for metallurgical, mineralogical and environmental studies and testwork
- While all results are yet to be received, grades have so far peaked at 3.77 per cent nickel and 3160 parts per million cobalt
- Once drilling has wrapped up at Coglia and all results are received, Panther will begin a mineral resource estimate and the drill rig will move to the Eight Foot Well prospect
- Panther is up 8.7 per cent on the market with shares trading at 25 cents
Panther Metals (PNT) has encountered the highest grade nickel and cobalt grades to date at the Coglia Project.
The Coglia Project lies in the Laverton Region of Western Australia and is highly prospective for nickel-cobalt laterite mineralisation.
Panther is currently in the process of a 6000-metre infill drilling program aimed at yielding materials for metallurgical, mineralogical and environmental studies and testwork.
Overall, grades peaked at 3.77 per cent nickel and 3160 parts per million (ppm) cobalt and are the highest grades encountered at the project to date.
These results came from 26 holes with assays pending for a further 33 holes which are expected to be reported on in due course.
“Due to the amount of meticulous work and planning carried out prior to drilling the Coglia nickel-copper deposit by our team, I am not surprised with these results,” Managing Director Daniel Tuffin said.
“However, I remain exceedingly pleased with these increased peaks in nickel and cobalt grades and the continued consistency in the thickness of the mineralised zone in which they reside.
“The company will look to create a maiden mineral resource estimate to JORC guidelines
at Coglia once all outstanding assays have been received.”
Once drilling has wrapped up at Coglia, Panther will begin a mineral resource estimate and the drill rig will move to the Eight Foot Well gold prospect to identify the potential for a shallow gold resource.
Panther was up 8.7 per cent on the market with shares trading at 25 cents at 12:54 pm AEDT.