Panther Metals PLC (LSE:PALM) said the new maiden mineral resource at the Coglia nickel-cobalt project in the Laverton region of Western Australia has “exceeded all expecationts”.
Cogila is owned by ASX-listed Panther Metals Ltd (ASX:PNT).
Panther Metals PLC (LSE:PALM) holds 36.6% of Panther Metals Ltd (ASX:PNT).
The resource rings in at 70.6mln tonnes of 0.7% nickel and 460 parts per million cobalt, for 476,000 tonnes of nickel and 32,200 tonnes of cobalt.
A new Southern exploration target offers the potential for between 34mln and 62mln more tonnes grading between 0.40% and 0.65% nickel and between 400 and 600ppm cobalt.
Two additional drill target areas, East and Central, have also been identified, following drilling and a geophysics review.
"The maiden mineral resource estimate for Coglia has exceeded all our expectations and has the potential to add a significant uplift to Panther Australia,” said Panther Metals PLC chief executive Darren Hazelwood.
“The three new target areas to the south and east of the resource area provide further potential for future uplifts, subject to the necessary drilling and technical studies. The rapid and successful progress made in Australia provides a great platform not only for the ASX company but also for Panther Metals PLC as we continue to grow the business."