Panther Metals PLC (LSE:PALM) highlighted positive drilling results from Panther Metals Ltd (Panther Australia) at the Coglia nickel/cobalt project in Western Australia.
"These final assay results provide the highest-grade intercepts of nickel and cobalt in the entire Coglia drill programme, and combined with the previously announced extensions of mineralisation, they confirm the confidence we hold in the Coglia project,” said Darren Hazelwood, chief executive of Panther Metals PLC (LSE:PALM).
Panther Australia's focus now turns to defining a JORC-compliant maiden resource estimate, he added.
The London-listed company holds 36.6% of Panther Australia, which was spun off in an initial public offering last year.
“Review of the combined assay results, in conjunction with the current exploration target, suggests that the Coglia nickel-cobalt project has the potential to generate a substantial nickel-cobalt resource during a time when global demand for nickel and cobalt is increasing markedly due to the demand side dynamics of vehicle electrification in particular,” said Daniel Tuffin, managing director of Panther Metals Ltd.