Obonga Project: Awkward Drill Programme Update
Panther Metals PLC has provided an update on its Awkward drill programme at the Obonga Project in Ontario, Canada, reporting broad intervals of disseminated and veined sulphides within a potential magma conduit environment, with portable XRF readings indicating elevated nickel and cobalt values. The company is attending the Quebec City Mining Investment conference and has released this early update to discuss initial findings.
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Panther Metals Plc (LSE: PALM), the exploration company focused on mineral projects in Canada, is pleased to provide an update for the ongoing drill programme at the Awkward Conduit Target, within the Obonga Project located upon the Obonga Greenstone Belt, Ontario, Canada.
The drilling programme has been specifically designed to test the Company's geological model by targeting the interpreted base of a potentially tube-like magma conduit system, or chonolith, modelled as the magmatic feeder to the Awkward Intrusion, which hosts anomalous levels of nickel (Ni), copper (Cu) and platinum group metals (PGE).
Panther's drilling has intersected broad intervals of disseminated and veined sulphides hosted within a varitextured gabbroic mafic-ultramafic intrusive system, interpreted to be within a potential magma conduit environment. Portable XRF readings from sulphide-rich intervals returned elevated anomalous nickel and cobalt values, with sulphides visually dominated by pyrrhotite.
Panther Metals PLC is in attendance at the Quebec City Mining Investment conference from the 2-4 June and wishes to discuss initial findings with attendees hence taking the unusual step of providing an update to the Market very early in the programme.
On 9 February 2026 Panther announced plans for an approximately 2,000-metre diamond drilling program at the Wishbone Prospect, following the grant of an Exploration Permit in June 2024 valid through 2027. Previous work confirmed compelling VMS-style mineralisation, including 27.3m of massive sulphide and 51m of sulphide-dominated mineralisation across multiple lenses, supported by high-grade copper anomalies in lake sediments.
In July 2024, Panther secured an Exploration Permit for Awkward West, enabling up to 31 drill holes. Historic drilling returned 27.2m at 2.25% TGC, with zones exceeding 5% TGC, alongside indications of nickel, copper, and platinum group elements, aligning with the Company's critical minerals strategy.
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