Beredo Gold Target Update

RNS Number : 2614G
Panthera Resources PLC
24 November 2020
 

24 November 2020

 

Panthera Resources Plc

(Panthera or the Company)

 

Beredo Gold Target Update

 

Panthera Resources Plc (AIM: PAT), the diversified gold exploration and development company with assets in West Africa and India, is pleased to announce an update on its Beredo Target at the Bido Project, following a more detailed review of historical data across the Baredo Target area as announced on 19 November 2020.

 

Highlights

· Previous rock chip sampling has returned assay results including 17.3 g/t Au, 11.1 g/t Au, 8.91 g/t Au, 8.38 g/t Au and 8.21g/t Au from sub-cropping quartz veins over an area of about 3000m x 500m

· Veins generally trend approximately north-south, sometimes associated with artisanal workings

· Veins show evidence of box works after sulphides, tourmaline, and potassic alteration of host rocks

· Previous soil sampling delineated a series of north-northwest to north-south trending zones of anomalous gold in soil

· These are often associated with significant zones of eluvial artisanal gold mining activity

 

Mark Bolton, Managing Director of Panthera, commented:

 

"The numerous high-grade assays returned from an area with no previous drilling is very encouraging.  It is unusual to obtain such good values from outcropping quartz veins, many of which have not been targeted by the local artisanal miners.

 

During the upcoming survey, our geological team will map the outcropping and sub cropping quartz veins in detail and increase the current sample density to locate drill collars.  If warranted, this may also be followed up with a geophysical IP survey in order to trace veins under scree cover and at depth.

 

A new geological model is emerging to explain the formation of these veins and this will be built upon and reported after results of the current soil sampling survey are to hand. "

 

A PDF version of the announcement, inclusive of images, can be found on the Company's website or by following the links below:

 

http://www.rns-pdf.londonstockexchange.com/rns/2614G_1-2020-11-24.pdf

 

www.pantheraresources.com/news/regulatory-news/

 

During the recent site visit to coordinate the gold in soil survey which has subsequently commenced, quartz veins were observed in the northeast of the survey area.  As a consequence, the Company elected to re-evaluate the geological model together with all historical data in this zone through to the Bido Vein.

 

The area is defined by a combination of geology (mapped quartz veins at the surface), gold in soil geochemistry, artisanal mining activity, and rock chip sampling.  Some high-grade gold assays have been returned from outcropping to sub cropping quartz veins, sometimes associated with artisanal mining but other times not targeted at all by the local artisanal miners. 

 

Significant assay results returned to date include   17.3 g/t Au, 11.1 g/t Au, 8.91 g/t Au, 8.38 g/t Au and 8.21g/t Au.   The quartz veins generally show evidence of box works after sulphides, tourmaline, and potassic alteration of the host rocks.

 

Table 1: Baredo Rock Chip Sampling Results

 

Sample ID

Easting (WGS84, Zone 30N)

Northing (WGS84, Zone 30N)

Au_g/t

S33

544644

1330750

1.82

S38

544547

1330709

0.06

S39

544646

1330757

3.55

S40

544766

1330282

4.04

S41

544299

1329433

8.38

S42

543825

1329693

1.95

S43

544049

1329623

1.06

S44

544261

1329738

8.91

S45

544349

1331017

1.32

S46

544505

1329925

2.04

S47

544063

1329955

3.61

S48

544133

1330090

1.95

S49

544133

1330090

0.75

S50

544036

1330545

11.1

S51

544288

1330813

0.15

S52

544860

1328816

17.3

S53

544874

1328732

8.21

S54

543868

1329473

0.14

S55

543648

1329670

0.005

S56

543555

1329892

11.6

S57

543937

1330241

3.31

S58

543427

1332203

6.62

S59

543874

1328862

0.01

S60

543783

1328667

0.005

S61

543784

1332363

0.03

S62

543357

1332297

1.68

S83

543519

1333256

0.31

S84

543531

1331156

20.9

S103

544409

1331445

3.92

S107

544558

1329980

1.24

S108

543812

1330900

1.96

S111

543534

1330873

1.69

S142

544773

1330292

0.23

S143

544817

1330477

0.06

S144

544795

1330512

0.005

S145

544786

1330467

0.29

S146

544843

1330319

0.005

S147

544700

1330264

0.27

S148

544633

1330269

0.09

S149

544491

1330352

0.54

S150

544546

1330382

0.005

S151

544562

1330605

0.2

S152

544055

1331303

0.02

S154

544067

1331275

0.005

S155

544074

1331188

0.005

S162

544066

1331163

0.005

S163

544040

1331083

0.005

S164

544041

1331065

0.02

S165

543983

1330968

0.18

S166

543915

1330941

0.005

S167

544027

1331321

0.28

S168

544048

1331345

0.005

S206

544022

1331303

0.44

S207

544542

1330430

1.41

S208

544490

1330482

0.88

S209

544501

1330538

0.53

S213

544516

1330540

0.005

S215

544541

1330576

0.46

S216

543378

1328213

0.01

S217

543384

1328210

0.007

 

Contacts

 

Panthera Resources PLC

Mark Bolton (Managing Director)

 

+61 411 220 942

contact@pantheraresources.com

 

Financial Public Relations

Vigo Communications Ltd

Simon Woods

Chris McMahon

 

 

+44 (0)20 7390 0230

Nominated Advisor and Broker

RFC Ambrian

Rob Adamson

Bhavesh Patel

Charlie Cryer

+44 (0) 20 3440 6800

 

Subscribe for Regular Updates

 

Following the Company's Twitter page at  @PantheraPLC

 

For more information visit and to subscribe to updates please visit:  www.pantheraresources.com

 

Qualified Person

The technical information contained in this disclosure has been read and approved by Antony Truelove (BSc (Hon), MAusIMM, MAIG), who is a qualified geologist and acts as the Competent Person under the AIM Rules - Note for Mining and Oil & Gas Companies.  Antony Truelove is the COO of Panthera Resources PLC.

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

Forward-looking Statements

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes, and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.

 

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