Big Bear Gold Project Geophysics Imagery

RNS Number : 0982Z

Panther Metals PLC

16 September 2020

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

PANTHER METALS PLC

(Incorporated in the Isle of Man with company number 009753V)

16^th September 2020

Big Bear Gold Project Geophysics Imagery

Panther Metals PLC (LSE:PALM) ("Panther" or the "Company"), the company focused on mineral exploration in Canada and Australia, is pleased to announce the release of the recent geophysics imagery for the Big Bear Gold Project, on the Hemlo-Schreiber Greenstone Belt, in Ontario Canada..

Darren Hazelwood, Chief Executive Officer, commented:

"We are pleased to release processed imagery for the airborne geophysics survey Panther flew over the Big Bear Gold Project this summer.  We are in the process of updating our corporate presentation and advancing our work programme at the Big Bear project.  The geophysics images provide investors, and the market, with confirmation of the level of understanding we now have on this previously fragmented project area.

 The business has made exceptional progress in 2020 on the project area, as our knowledge expands, our anticipation only intensifies. We expect to update the market soon with the results of our summer work programme."

Highlights:

• Processed data imagery for the high-resolution airborne electromagnetic ("AEM") and magnetics ("Mag") geophysics survey is published on the Panther website at https://www.panthermetals.co.uk/projects/big-bear-project/gallery .

• Latest imagery for the Big Bear Gold Project includes:

o  Digital Elevation Model ("DEM")

o  Residual Total Magnetic Intensity ("TMI")

o  First Vertical Derivative of TMI

o  Early Off-Time time-domain electromagnetics ("TDEM")

• A total of 253 geophysical anomalies have been identified and classified by the survey, with 39 designated for priority investigation (announced 11 August 2020).

• Ground truthing, mapping and sampling of geophysical anomalies is ongoing,  with the latest batches of samples from Big Bear submitted to the laboratory on Saturday, with fast-track analysis requested.
 

Please use the following link to access all images:

https://www.panthermetals.co.uk/gallery

Survey Technical Details

Airborne Magnetometers: Geometrics G-822A

Both the ground and heliborne systems use a non-oriented (strap-down) optically-pumped Cesium split-beam sensor. These magnetometers have a sensitivity of 0.005 nT and a range of 15,000 to 100,000 nT with a sensor noise of less than 0.02 nT. The heliborne sensor is mounted in a bird made of non-magnetic material located 25 m below the helicopter when flying. Total magnetic field measurements are recorded at 10 Hz in the aircraft. The ground system is recording magnetic data at 1 sample every second with a GSM-19 Overhauser base-station magnetometer.

Real-Time Differential GPS: Omnistar DGPS

PROSPECTAIR uses an OmniStar differential GPS navigation system to provide real-time guidance for the pilot and to position data to an absolute accuracy of better than 5 m. The Omnistar receiver provides real-time differential GPS for the Agis on-board navigation system. The differential data set is relayed to the helicopter via the Omnistar network of geosynchronous satellites for the survey location. The receiver optimises the corrections for the current location.

Airborne Navigation and Data Acquisition System: Pico-Envirotec AGIS-XP system

The Airborne Geophysical Information System (AGIS-XP) is an advanced, software driven instrument specifically designed for mobile aerial or ground geophysical survey work. The AGIS instrumentation package includes an advanced Satellite navigation (GPS), real-time flight path information that is displayed over a map image (BMP format) of the area, and reliable data acquisition software. Thanks to simple interfacing, the radar and barometric altimeters, the RSI spectrometer, the Geometrics magnetometer and the ProspecTEM time-domain electromagnetic system data are easily integrated into the data acquisition system and digitally recorded. Automatic synchronisation to the GPS position and time provides very close correlation between data and geographical position. The AGIS is equipped with a software suite allowing easy maintenance, upgrades, data QC, and project and survey area layout planning.

Time-Domain Electromagnetic System: ProspecTEM

Prospectair Geosurveys significantly modified and improved the Emosquito II that was built by THEM Geophysics of Gatineau (Québec) to develop ProspecTEM. It is a powerful light-weight system adapted for small size helicopters and easy manoeuvrability enabling the system to be flown as close to the ground as safely possible and ensuring maximum data resolution. Advanced signal processing technique and a full processing package was developed in house to optimise the ProspecTEM data.

The ProspecTEM system employs a transient or time-domain electromagnetic transmitter that drives an alternating current through an insulated electrical coil system. The towing bridle is constructed from a Kevlar rope and multi-paired shielded cables. It is attached to the helicopter by a weak link assembly. An onboard harness with outboard connectors mounted on a plate allows for quick disconnection or connection of the exterior elements. The system uses a 4 KW generator and a large condenser to transmit alternating 2.75-ms half sine pulses with intervening off-times of 13.916 ms electric pulse, 60 pulses per second.

The current in the coil produces an electromagnetic field. Termination of the current flow is not instantaneous but occurs over a very brief period of time (a few microseconds) known as the ramp time, during which the magnetic field is time-variant. The time-variant nature of the primary electromagnetic field, which propagates downward and outward into the subsurface, induces eddy currents which characteristics are governed by rocks conductivity distribution. These eddy currents generate a secondary electromagnetic field, in accordance with Faraday's Law. This secondary field immediately begins to decay in the process. Measurements of the secondary field are made only during the time-off period by a vertical component receiver located almost halfway between the helicopter and the transmitter loop. It is placed with the magnetometer taped to a horizontal boom which supports the receiving coils tear-drop shape vessel at its end. The boom has an elastic suspension. A proprietary suspension system protects the orthogonal coils assembly and limits the total field excursions. The tear-drop vessel acts as a vane and maintains the mast in the line of flight.

The depth of investigation depends on the time interval after shutoff of the current, since at later times the receiver is sensing eddy currents at progressively greater depths. The intensity of the eddy currents at specific times and depths is determined by the bulk conductivity of subsurface rock units and their contained fluids.

Darren Hazelwood, Chief Executive Officer:  [phone] and [phone]

Mitchell Smith, Chief Operating Officer:         [phone]

Brokers:

SI Capital Limited

Nick Emerson  [phone]

Peterhouse Capital Limited

Guy Miller and Duncan Vasey  [phone]

 

END

 

 

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