Panther Metals PLC (LSE:PALM) hailed the latest drilling results from the Burtville East gold project in Western Australia announced by its part-owned Australian associate.
Panther Metals Ltd (ASX:PNT) said multiple new gold-bearing quartz lodes were confirmed by drilling and that a new geological interpretation had opened the opportunity for significant exploration upside. Mineralisation remains open and potentially broadens at depth and along strike, said the Australian-listed company.
"The identification of multiple new gold-rich quartz lodes, with high-grade gold diamond drill intercepts and significant strike extension potential at the Burtville East gold project is an exciting development both for Panther Australia and for Panther Metals PLC (LSE:PALM) through our significant shareholding,” said Darren Hazelwood, chief executive of London-listed Panther Metals.
“The high-grade gold intercepts and new quartz lode discoveries increase our confidence that the team in Australia have assets and capability to deliver a significant boost to Panther Metals PLC via our 36.6% holding in the company.”
Significant drilling results include 14.6 metres (m) at 2.32 grammes a tonne (g/t) gold from 37.4m, and a visible gold intercept of 0.3m at 21.4g/t gold from 48.4m.