Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Panthera Resources soars on ‘significant’ gold results

“The significance of achieving results of this tenor in the company's first drilling program on the property cannot be overstated."
gold
Highlight results included gold grades up to 4.76 grams per tonne

Panthera Resources PLC (LON:PAT) shares soared on Tuesday as it unveiled ‘significant’ drill results from the Naton gold project in Burkina Faso.

Drill holes tested the Somika Hill, Kaga Vein, Bido Vein and Somika Hill East targets. Highlights included gold readings between 0.52 grams per tonne to 4.76 grams per tonne.

READ: Tuesday’s market movers

"I am delighted to announce these exciting results from our Naton Project in southern Burkina Faso,” said Geoff Stanley, Panthera managing director.

“The significance of achieving results of this tenor in the company's first drilling program on the property cannot be overstated.

“The intersections clearly highlight the potential for multiple zones of ore grade mineralisation.  The anomalies associated with this mineralisation are all laterally extensive, which gives us great encouragement that we may be able to confirm mineralisation over significant distances on the property.”

Future drilling plans

Panthera told investors that the ‘better’ mineralization was at each target associated with sulphide alteration rather than quartz veins, and, as a result, it believes Induced Polarisation may be a good exploration tool to target future drilling locations.

Stanley added: "We are now planning follow-up drilling on these areas and have also identified higher tenor soil anomalies elsewhere on the Naton property that will also require drill testing.

“We are excited by the progress at the Naton project and look forward to updating the market on further developments and results."

By mid-morning, Panthera shares were up 17.45% at 5.52p - after trading up as high as 8.7p.

View full PAT profile View Profile

Panthera Resources PLC Timeline

Related Articles

Kestrel Gold steps up drilling on highly prospective Yukon ground
September 26 2017
The group has five gold properties in Yukon and four copper-gold properties in British Columbia..
drill rig
Fri
The company is well funded to fast‐track its flagship project towards completion of a definitive feasibility study, anticipated in Q3 2019.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use