11:00 Mon 13 Jul 2020
Panther Metals PLC - Big Bear, Canada: Acquisition of Additional Claims
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The acquisition of an additional 19 mining claims, includes coverage for the southerly extension of the historical Schreiber Pyramid mine in the centre of the project area and the historical
· Two mining claims provide coverage of the southerly extent of the historical Schreiber Pyramid gold mine, where high grade gold bearing quartz veins were the focus of small scale mining in 1930s. In 1939 production was reported to be 136 tonnes at 17.6 g/t Au;
· Six mining claims provide coverage of the small scale historical
· Eleven mining claims were acquired on the basis of Panther's preliminary data from Panther's
"This strategic acquisition allows us to consolidate our position around the high grade, past producing, Schreiber Pyramid mine and extend our footprint to encompass the highly prospective
The progress made, combined with the additional capital now available to the company, enable us to target an increased number of areas on the Big Bear property. With field operations resuming today, following a scheduled break, we look forward to ground truthing geophysical and soil geochemical anomalies and delineating ground geophysics targets ahead of subsequent drill testing."
Deal terms
Seven claims were staked directly by Panther on previously unclaimed ground.
Brokers:
SI Capital Limited
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