Panther Metals PLC (LSE:PALM) said drilling has started on the Wishbone volcanogenic massive sulphide (VMS) prospect at the Obonga project in Ontario, Canada.
The Phase 1 drilling programme consists of up to three diamond core drill holes and is seeking to confirm VMS style mineralisation.
"The execution of our strategy to advance our projects as rapidly as possible is now fully in play,” said chief executive Darren Hazelwood. “The Wishbone drilling follows rapidly on the heels of the recent commencement of diamond drilling at our 100% owned property at Dotted Lake.”
Wishbone is situated in a similar geological environment to the nearby Sturgeon Lake area, and its Mattabi VMS mining camp. The Sturgeon Lake/Mattabi area hosted five commercially viable VMS mining operations that produced from the early 1970s into the 1990s. The Mattabi mine, the most prolific, reportedly produced 13.5 million tonnes of ore with an average grade of 7.5% zinc, 0.88% copper, 0.77% lead and 96.42 grammes a tonne of silver between 1970 and 1983, Panther said.