Panther Metals plc has started 400 metres’ diamond drilling to test the company’s geological model at the Awkward conduit target, within the Obonga project in Ontario, Canada.
CAUTIOUS
The programme will target the interpreted lower portion of a “potentially tube-like magma conduit system, or chonolith” which hosts anomalous levels of nickel, copper and platinum group metals.
Operations will initially comprise a single near-vertical drill hole to a planned depth of some 400m.
The company said that drilling results would determine any further depth, follow-up work and possible expansion of the programme.
Chief executive officer Darren Hazelwood added: “While the indicators we have assembled are extremely encouraging, the conduit model remains a geological theory that is currently being tested through drilling, and it is important that we remain cautious.
“The combination of coincident geophysics, sulphide indicators, nickel, copper and PGE signatures, together with geological similarities to major magmatic systems such as Impala’s Lac des Iles mine and Mt Keith, has attracted significant attention from both technical and corporate audiences.”