Panthera Resources PLC (AIM:PAT) reported ‘highly encouraging’ drilling results from the Bassala gold project in Mali.
All targets tested as part of the Stage 2 Aircore drilling (AC) programme returned more than 100 parts per billion gold from 5 metre (m) composite samples, said the AIM-traded company.
The best results include 25m at 0.87 grammes a tonne (g/t) gold from surface, including 5m at 2.96g/t; 2m at more than 8.00g/t and 16m at 0.90g/t.
"The current drilling is essentially "geochemical drilling" and has only targeted the upper weathered zone and at a very broad line spacing of minimum 200m with holes generally 50m apart,” said managing director Mark Bolton. “In this respect, the numerous significant intercepts are considered to be highly encouraging.”
“Almost all of the targets tested are sizeable geochemical targets, many with economic grade intercepts already returned.
“Many of the intercepts were at the end of drill holes, showing the mineralisation is open at depth and representing excellent targets for deeper drilling,” he said.
The AIM-traded company plans to undertake deeper, resource definition reverse circulation (RC) in the second quarter.