Panthera Resources PLC (AIM:PAT) has kicked off a new drilling programme at its Bido Project in Burkina Faso.
The programme will involve 2,000 meters of reverse circulation (RC) drilling, targeting geochemical and geophysical anomalies on the Beredo-Kiekouyou prospect.
Panthera told investors that the drilling will be divided into three drill fences – one in the north to test the Bido vein, a central drill fence to target a valley with evidence of past eluvial mining and quartz veining, and a southern drill fence testing an exposed quartz vein that has shown high gold values in sampling.
"The Bido project is an exciting gold prospect for the company that is maturing as gold prices push through $2,000 per ounce,” managing director Mark Bolton said in a statement.
“The company has been actively exploring the licence for several years culminating in a focused drilling campaign.
“The three drill fences will test targets selected by their coincident geophysics, visible quartz veining and orpailleurs activity."
Panthera now holds 80% of the Bido project, having completed some of its earn-in obligations, and it can acquire the other 20% through a further $1 million investment in the project over a two-year period.
Bido is located in the Boromo greenstone belt, which hosts several significant gold deposits.