Panther Metals PLC (LON:PALM) completed the initial exploration programmes on its 100%-owned Merolia gold project in Western Australia.
"The progress across the business over the last two months has been phenomenal and I'm delighted to share part of that progress,” said Panther’s chief executive Darren Hazelwood.
“Our understanding of the opportunities that present themselves in Australia has expanded significantly and the raw data from the airborne geophysical programme over the Merolia gold project, in particular, adds to our confidence in the project.
The company completed augur drilling, airborne geophysics, a drone magnetic survey, and has engaged a consultant to undertake data processing.
“In addition to the gold potential evident across the project area, a significant nickel-cobalt target has been identified in the southern part of our licence holdings at Merolia,” said Hazelwood.
“This target zone is particularly evident in the latest airborne geophysical data, where it is marked by a significant magnetic high covering an area of at least 7.5 x 2 km. We are looking forward to further expanding both our gold and nickel-cobalt targets in the coming months through our follow-up exploration programmes."