- Panther Metals (PNT) intersects up to 478 g/t gold at the Burtville East gold prospect within its Merolia gold project in Western Australia
- The company drilled six reverse circulation holes to test the current interpretation of gold mineralisation and explore for new mineralised positions and structures
- Panther will follow up the results with a new drilling program to further test and explore for new mineralised trends in the area
- Panther has also taken multiple grab samples around Burtville East, with samples ranging from 0.91 g/t gold to 21.7 g/t gold
- Shares in Panther are up 15.8 per cent and are trading at 22 cents at 2:01 pm AEST
Panther Metals (PNT) has intersected up to 478 grams per tonne (g/t) gold at the Burtville East gold prospect within its Merolia gold project in Western Australia.
The company drilled six reverse circulation holes as part of its initial drilling program to test the current interpretation of gold mineralisation and explore for new mineralised positions and structures.
The best results come from hole BVE006, which intersected 15 metres at 53.94 g/t gold from 27 metres including one metre at 478 g/t gold from 28 metres.
Panther said it would follow up the results with a new drilling program to further test and explore for new mineralised trends in the area.
“The first round of drilling at the Burtville East project consisted of six reverse circulation
holes for a total 675 metres drilled and was designed as an initial first pass program to
test accepted mineralisation trends and explore the potential for alternative trends,” Panther CEO and Managing Director Daniel Tuffin commented.
“The results from this short program of drilling at Burtville East are simply stunning. Some
of the holes drilled into the accepted trend model did not perform as expected, while others, particularly in the case of hole BVE006, intercepted a new shallow broad high-grade zone.
“The interception of a new shallow broad high-grade gold zone in hole BVE006, in conjunction with confirmation that unprocessed local stockpiles contain gold in previously
unprocessed ‘mineralised altered zones’, requires a rethink about the accepted mineralisation trends at Burtville East.”
Panther has also taken multiple confirmatory grab samples around Burtville East to confirm the validity of historical results.
Results for the grab sampling range from 0.91 g/t gold to 21.7 g/t gold.
The company has also received assays from drilling at its Eight Foot Well prospect, with the best intercepts including two metres at 3.34 g/t gold from 99 metres including one metre at 5.22 g/t gold.
Shares in Panther were up 15.8 per cent and were trading at 22 cents at 2:01 pm AEST.