Panther Metals PLC (LSE:PALM) has released details of positive findings from a gold-focussed soil geochemical sampling programme conducted on the recently acquired Shear Gold-Manitou Lakes project in Ontario, Canada.
The project covers a total area of approximately 98 square kilometres and is located within the gold endowed Kenora mining district on the Eagle-Manitou Lakes greenstone belt, approximately 300 kilometres east of the city of Thunder Bay.
All three soil survey grids conducted during this first programme have identified anomalous areas of gold-in-soil, with a significant proportion of the results returning highly significant results of above 0.01 parts per million gold.
A total of five soil samples returned standout, highly anomalous assay results ranging between 1.254 ppm up to 6.81 ppm gold.
"Soil sampling is one of the most important gold exploration tools, which when combined with geophysical investigation and geological mapping are the precursors to drilling and deposit discoveries,” said Darren Hazelwood, chief executive of Panther Metals PLC.
“Finding single anomalous gold results in a soil programme is not that unusual. However, finding a series of elevated results which correlate with one another, and which outline distinct anomalous areas for gold is far more exciting. All three of the soil sampling grids have returned exciting results which are worthy of investigation.”