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Panther Metals PLC - Addition to Holdings Around Merolia Gold Project

RNS Number : 4339F
Panther Metals PLC
16 November 2020
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

 

PANTHER METALS PLC

(Incorporated in the Isle of Man with company number 009753V)

16th November 2020

 

Panther Metals Adds to Holdings Around the Merolia Gold Project

Panther Metals PLC (LSE:PALM) ("Panther" or the "Company"), the company focused on mineral exploration in Canada and Australia, is pleased to announce it has secured an option over 100% of several licences in the immediate vicinity of the Merolia Gold Project near Laverton, Western Australia, which it is acquiring from White Cliff Minerals Limited (WCN), an ASX-listed exploration company.

Highlights:

·    Panther to acquire tenements E38/3384, E38/3527, E38/3526, E38/3553, and E38/3555 which are to be integrated in to the Merolia Gold Project, with which they are largely contiguous.

 

·    Cash payment of A$25,000 to be made to Bonanza Resources Pty Ltd and Bluebrook Nominees Pty Ltd to secure the option to acquire these tenements.

 

·    The option agreement expires on 31st July 2021, which can be extended with written agreement between the parties.

 

·    Commercial terms for Panther Metals Plc, via its 100% owned subsidiary Panther Metals Pty Ltd, to purchase the licenses are to be negotiated during this period.

 

·    Panther has full access to the licence areas, and can expedite work at its own cost, during the exclusivity period.

Darren Hazelwood, Chief Executive Officer, commented:

"Securing this ground, part of which contains the continuation of the Comet Well gold trend, as Panther Metals moves from explorer to building a resource in Western Australia is a coup for the business and reflects the trust placed in us to execute a strategy which aims to produce a commercially viable project.

 

We have now combined an area containing outcropping gold mineralisation with a largely unexplored, but highly prospective, land package covering a total of 290km2 which we believe offers extensive gold exploration potential in one of the most highly regarded locations in the world."

 

 

Panther Metals PLC:

Darren Hazelwood, Chief Executive Officer:      +44(0) 1462 429 743

                                                                            +44(0) 7971 957 685

Mitchell Smith, Chief Operating Officer:              +1(604) 209 6678

Brokers:

SI Capital Limited

Nick Emerson                                                      +44(0) 1438 416 500

Peterhouse Capital Limited

Guy Miller and Duncan Vasey                             +44(0) 20 7469 0930

 

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Panther Metals' (LON:PALM) Darren Hazelwood caught up with Proactive's Andrew Scott following news of its acquisition of the Merolia gold project in Laverton, Western Australia from White Cliff Minerals Ltd (ASX:WCN). Hazelwood says the deal represents a major step forward for the company. He...

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