Obonga: High Resolution Magnetic Geophysics Survey
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Panther Metals PLC (LSE:PALM) the company focused on developing Canada's next base metal volcanogenic massive sulphide ("VMS") camp and graphite deposit, is pleased to announce the commissioning of a high resolution airborne magnetic geophysics survey ("Magnetics Survey") at the Company's Obonga Project in Ontario, Canada.
The Magnetics Survey will be carried out by Pioneer Exploration Consultants Ltd. ("Pioneer") over an estimated 430 line/km utilising an unmanned aerial vehicle ("UAV" or "Drone") over three VMS prospect areas including the Wishbone Prospect, the Survey Prospect and the Ottertooth Prospect. The Wishbone and Survey prospects are both known to host VMS mineral systems, based on Panther's 2021 and 2022 drilling programmes1,2 whilst the Ottertooth Prospect has been identified as being highly prospective for hosting VMS style mineralisation based on regional scale geophysical modelling and lake sediment geochemical data.
The high-resolution Magnetics Survey data will provide amongst a variety of data products, a three dimensional ("3D") inversion model that will help refine planned drill hole orientations to target high grade base metal zones at depth, as well as providing inputs for the mineral system modelling.
Details of the planned geophysics surveys which are expected to commence in early June are outlined in Table 1 below.
Darren Hazelwood, Chief Executive Officer, commented:
"It's a stunning achievement by our team to discover two previously unknown VMS systems on Obonga, from a total of only six holes drilled. We must now start to move into the ore discovery phase of work.
The 2024 VMS exploration work programme kicks off with the commissioning of three high-resolution magnetic geophysics surveys and 3D inversion modelling as we target stepping out our drilling of the exciting copper, zinc, silver targets at Wishbone and Survey, with Ottertooth being a new VMS exploration zone identified by our team on our flagship Obonga Project.
Pioneer Exploration Consultants are due on site to commence the three drone based geophysics surveys at the start of June with results expected in short order. Obonga holds the potential to become the next VMS camp in Canada.
The important data products and 3D models will help us to refine the drill hole orientations with a view to intersecting the high-grade zones within the targeted VMS systems.
We look forward to providing further updates as the work bears fruit".
Table 1: Exploration Permit Application and Prospect Details
| UAV Magnetics Survey Rational | Survey Equipment | Prospect Name (survey target) | Planned Survey Size (line- kilometre) | Planned Flight Line Azimuth (degrees) | Planned Magnetic Survey Data Products | |
|---|---|---|---|---|---|---|
| Targeting VMS style base metal mineralisation at depth. 3D Inversion modelling will facilitate drill hole orientation planning to target the expected high base metal grade parts of the targeted VMS systems. | Unmanned Airborne magnetometer survey system incorporating: Base station magnetometer GSM-19W Overhauser Airborne magnetometer Gem Systems GSMP-35U potassium vapor magnetometer & ancillary electronics. | Wishbone VMS (VMS system confirmed by drilling) | 190 | 090° - 270° | · · · · · · | Final Total Magnetic Intensity First Vertical derivative Second Vertical Derivative Horizontal Derivative Analytic Signal 3D Inversion Models |
| Survey VMS (VMS target confirmed by drilling) | 200 | 000° - 180° | ||||
| Ottertooth VMS Prospect (prospective for VMS style base metal mineralisation) | 40 | 000° - 180° |
Reference Notes
( https://polaris.brighterir.com/public/panther_metals/news/rns/story/x4gy0kx )
2: Company announcement, dated 18 January 2022, 'VMS Mineral System Discovered on Obonga Project' ( https://polaris.brighterir.com/public/panther_metals/news/rns/story/x8kld5x )
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Conclusion
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