Panther Metals Ltd has announced the completion of its first drilling campaign within the 40 Mile Camp prospect on the Picnic Ridge target.
The 1800 m aircore programme was designed to systematically test the first of many anomalous targets generated from exploration of the greater area by the company.
Drilling successfully intercepted highly anomalous zones of gold mineralisation, open at depth and along strike, indicating potential to further grow Picnic Ridge. The intercepts also validate the need to follow-up on the deeper 3D inversion targets in the area and provide significant confidence to the company’s wider exploration model for the 40 Mile Camp and 40 Mile Camp East prospect areas.
Daniel Tuffin, Managing Director and CEO, commented:
“I am thrilled to share some incredibly exciting news regarding our maiden aircore campaign within the 40 Mile Camp prospect which, although still early stage, provides further evidence for the potential for the growth of a new gold district in the Laverton Gold Fields.
“Conducted on the new Picnic Ridge target, which covers just 0.2 km2 within the vast 25 km2 40 Mile Camp area, the company employed its local experience and technical capabilities to hone in on what we hope will be the first of numerous significant discoveries within this extensive area.
“The short campaign delivered significant results, validating prior geological investigation, and providing high confidence in the company’s regional 40 Mile Camp exploration model.
“Notably, the drilling reveals that gold mineralisation at the Picnic Ridge target is closer to surface than previously thought; this could have far-reaching regional implications in the follow-up of this area and others in the vicinity.
“The company now plans to develop a second programme for the Picnic Ridge target, following the breadcrumbs open along strike and testing structures further at depth.”