Obonga Awkward West Exploration Permit Application
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Panther Metals PLC (LSE:PALM) the company focused on developing Canada's next VMS camp and graphite deposit, is pleased to announce it has submitted a further Exploration Permit application for additional drilling following the intersection of significant widths of graphite mineralisation comprising 27.2m @ 2.25 % Total Graphitic Carbon 1, on the Awkward Prospect at the Company's Obonga Project ("Obonga") located on the Obonga Greenstone Belt in northern Ontario. This Awkward West application is in addition to the Awkward East permit application 2 which was announced 2 April 2024 and covers ground prospective for graphite deposits as well as intrusive hosted platinum group elements, to the west and south of the Awkward East application area.
The Exploration Permit application concerns planned work within 21 Mining Claims ("Claims") in the Puddy Lake Area and Obonga Lake Area administrative regions.
The submitted application covers a planned series of up to 31 diamond core drill pads and associated down-hole and surface geophysics surveys spread across the Awkward West application area on the eastern side of the Obonga Project.
Details of the permit application is outlined in Table 1 below.
Darren Hazelwood, Chief Executive Officer, commented:
"We are delighted to announce the completion of our third, and final, drilling licence application, a pivotal step in our short-term strategy for Obonga. With a focused approach on Graphite and VMS, this step solidifies our commitment to discovery following very encouraging results from our previous work.
Obonga can deliver huge value to our stakeholders. We hold such a dominate position on this greenstone belt, that with further discoveries, interested parties will have to engage with Panther Metals. This was always our strategic aim and is now showing increasing signs of being a very shrewd move.
Our initial steps around the graphite will be undertaken shortly as the snowmelt accelerates in northwest Ontario. Should we be able to replicate the observations from previous ground work conducted over the last 60 years, it's my belief we will quickly see the potential develop over the coming weeks and months. The edge of the prospective area is only around 1km from a network of trails and roads that lead directly to the main Armstrong to Thunder Bay highway."
Table 1: Exploration Permit Application and Prospect Details
| Exploration Permit Application Number (Administrative Area & Claim numbers) | Prospect Name (location) | Targeting & Exploration Rational | Requested / Planned Activities |
| PR-24-000076 (Puddy Lake Area and Obonga Lake Area Cells: 503963, 503964, 503965, 503966, 503967, 503968, 503969, 503970, 503971, 503972, 503973, 503974, 564422, 564425, 564429, 564432, 672121, , 845433, 845450, 845451, 845452) | Awkward (West) (Eastern side of Obonga Project) | Targeting graphite mineralisation to north of previous drilling intersection. Plate modelling of airborne electromagnetic geophysics data shows potential targets for graphite and/or platinum group element sulphide mineralisation. | · Mechanised Drilling (up to 31 diamond core drill holes) · Down-hole Electromagnetic ("EM") Geophysics · Airborne drone magnetic high resolution survey · Ground EM, Magnetic and Induced Polarisation Geophysics Surveys · Exploration Camp for 15 persons · Access Trails to link with existing logging trails from the north of the Obonga Project area. |
Reference Notes
1 Panther Metals PLC company announcement, 'Graphite Discovery Grows Significantly at Obonga', dated 11 January 2024 ( https://polaris.brighterir.com/public/panther_metals/news/rns/story/wv484pw)
2 Panther Metals PLC company announcement, 'Obonga Graphite: Awkward East Exploration Permit Application', dated 2 April 2024 (https://polaris.brighterir.com/public/panther_metals/news/rns/story/xze4m7x )
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Conclusion
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