Panther discovers significant gold potential at depth at Burtville East

Panther Metals’ new approach to geological modelling at its Burtville East gold project has revealed new gold-rich zones at greater depths than previously seen, providing the opportunity for significant exploration upside.  

Panther Metals (ASX:PNT) has completed new geological modelling at the Burtville East gold project that has confirmed the existence of multiple gold-rich quartz lodes outside of the existing BVE Main Lode.

“To date, Panther is the first company to combine and evaluate our recent, and historic, drilling data utilising modern three-dimensional software, allowing the team to assess multiple geological interpretations resulting in these new gold lodes,” managing director Daniel Tuffin explained.

“The new lodes identified have been confirmed at greater depths than previously seen, which also suggests the potential for mineralisation to broaden at depth. This is a significant observation that will influence future exploration efforts.”

The new gold lodes were uncovered below 80m and were confirmed by very high and bonanza grade hits from both historic holes and Panther’s 2022 drilling program.

The intercepts outside of the existing BVE Main Lode comprised 10m at 7.15 grams per tonne (g/t) gold from 84m, including 1m at 62.80g/t from 91m; 1m at 73.3g/t from 93m; and 1m at 3.41g/t from 119m.

Tuffin said the integration of detailed historic surface geochemistry during the geological interpretation process had also highlighted an expanded anomalous northwest-southeast zone extending beyond the current main lode area, spanning about 800m.

“With this latest information now at hand, Panther plans to test the extent of the gold mineralisation along strike and at depth to identify potential new gold lodes at Burtville East with its next drilling campaign,” he said.

Part of the greater Merolia Gold Project, Burtville East has delivered some extremely high grades, including a bonanza hit of 1m at 478g/t from just 28m from within a broader intercept of 15m at 54g/t from 27m.

Visible gold has also been previously reported in the 2022 drilling program within an intercept of 0.3m at 21.4g/t from 48.4m.

Christmas comes early

Panther will this weekend celebrate one year as an ASX-listed company – a short space of time in which it has achieved more than the average small cap.

The company, which came to the bourse ready to spin the drill bit from the minute it lit up the boards, was “spoiled for choice” with multiple prospective targets across its vast landholding and has marked several milestones since making its debut.

The most significant of which was delivering a bigger-than-expected maiden resource at the Coglia nickel-cobalt project of 70.6Mt at 0.7% nickel and 460 parts per million (ppm) cobalt for 476,000t of nickel and 32,200t of cobalt from just 6,000m of reverse circulation drilling.

The new resource was over 40% larger than the 30-50Mt JORC exploration target the company initially outlined in its prospectus and was released before the second half of 2022 target promised at IPO.

This story was developed in collaboration with Panther Metals, a Stockhead advertiser at the time of publishing.

This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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