Panthera Resources PLC (AIM:PAT) has released what it described as “very positive” results from its drilling programme at the Cascades gold project, where it has now completed Phase Two of its drilling (covering some 10,000 metres).
The company, in a statement, said it has received full analytical results from its joint venture partner, DFR Gold, including some 5,641 metres of drill results across 57 drill holes on five target areas.
Drilling confirmed two significant new zones with resource potential at Sina Yar and Far East targets, it said.
Additionally, the company highlighted that it also showed an extension to the 2022 discovery zone, at the TT13 target.
"These very positive results from this drilling programme are highly encouraging, as they confirm the search models being applied in the further testing of the extensive mineralised shear corridor at the Cascades project,” chief executive Mark Bolton said.
“The results confirm the potential scale of the gold mineralised system at the Cascades project through the discovery of new mineralised zones and further delineation of existing zones.
“We are encouraged by the consistent mineralisation across the licence area and are working with DFR on the optimal approach for the next phase of drilling."
Panthera currently holds a 20% interest in Moydow Holdings which in turn owns Cascades.
DFR is earning into an 80% stake in the holdings company by spending the first US$18 million in the joint exploration campaign.