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- High-resolution UAV airborne magnetic survey completed
- Eight nickel-copper exploration targets defined
- Geological interpretation confirms Red Flag hosts several potential ultramafic bodies
- Historical exploration data to be integrated with new interpretation
Panther Metals (ASX:PNT) has defined a number of nickel-copper exploration targets with interpretation of a recently completed high-resolution UAV airborne magnetic survey across its Red Flag project near Laverton in WA.
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The independently completed interpretation identified eight prospects, with RF1, RF5 and RF8 as the most prospective targets for further evaluation.
MD and CEO, Daniel Tuffin, said the company will now review the survey results alongside historical exploration data to refine and rank the identified targets before determining the most appropriate follow-up exploration program.
“The UAV airborne magnetic survey has provided an important milestone for the Red Flag Project by significantly improving our understanding of the underlying geology and defining a number of exploration targets for further evaluation,” Mr Tuffin said.
“Red Flag sits within a well-established nickel province, and our exploration strategy is built around applying proven geological models to the project area. The magnetic interpretation has significantly improved our understanding of the local geology and provides a clear framework for prioritising the next phase of exploration.
“Our next step will be to review the survey results alongside the historical exploration data before determining the most appropriate programme to further investigate the identified targets.”
Core Geophysics has recommended a phased exploration approach, commencing with a review of the interpreted magnetic survey results alongside historical exploration data to assist in planning follow-up field activities.
The initial focus is expected to be targeted ground electromagnetic (EM) surveys over the RF1 and RF5 targets, with follow-up work at RF8 and RF7 where warranted. Surface geochemical sampling and geological mapping may also form part of the exploration programme, depending on the outcome of the historical data review.
PNT is steady at 0.6¢ with a Mkt cap of $2.450M.
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