Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Panthera Resources soars on ‘significant’ gold results

“The significance of achieving results of this tenor in the company's first drilling program on the property cannot be overstated."
Highlight results included gold grades up to 4.76 grams per tonne

Panthera Resources PLC (LON:PAT) shares soared on Tuesday as it unveiled ‘significant’ drill results from the Naton gold project in Burkina Faso.

Drill holes tested the Somika Hill, Kaga Vein, Bido Vein and Somika Hill East targets. Highlights included gold readings between 0.52 grams per tonne to 4.76 grams per tonne.

READ: Tuesday’s market movers

"I am delighted to announce these exciting results from our Naton Project in southern Burkina Faso,” said Geoff Stanley, Panthera managing director.

“The significance of achieving results of this tenor in the company's first drilling program on the property cannot be overstated.

“The intersections clearly highlight the potential for multiple zones of ore grade mineralisation.  The anomalies associated with this mineralisation are all laterally extensive, which gives us great encouragement that we may be able to confirm mineralisation over significant distances on the property.”

Future drilling plans

Panthera told investors that the ‘better’ mineralization was at each target associated with sulphide alteration rather than quartz veins, and, as a result, it believes Induced Polarisation may be a good exploration tool to target future drilling locations.

Stanley added: "We are now planning follow-up drilling on these areas and have also identified higher tenor soil anomalies elsewhere on the Naton property that will also require drill testing.

“We are excited by the progress at the Naton project and look forward to updating the market on further developments and results."

By mid-morning, Panthera shares were up 17.45% at 5.52p - after trading up as high as 8.7p.

View full PAT profile View Profile

Panthera Resources PLC Timeline

Related Articles

drill rig
September 14 2018
The company is well funded to fast‐track its flagship project towards completion of a definitive feasibility study, anticipated in Q3 2019.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use