Gold was originally discovered at Annaburroo by Newmont Australia, and historic grab sample grades include 61.2 grams per tonne gold and 50.8 grams.
In addition, five metres grading 6.68 grams per tonne has been intercepted in trenching, and near-surface drilling has hit two metres at 3.10 grams.
Panther Metals has also appointed Dr. David Groves to the board of its 100%-owned Australian subsidiary, Panther Metals Pty Ltd. Groves has a PhD in Economic Geology.
"The grant of the Annaburroo gold project licence allows the company to proceed with its maiden exploration programme on its fully-owned gold exploration projects in the Northern Territory,” said Darren Hazelwood, Panther’s chief executive.
“I expect this programme to commence from the second quarter of 2020. With the company fully funded into 2021 for our planned work programmes, we look forward to reporting on the corresponding results of these programmes accordingly.