Kalaka Project Drilling Assay Results
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Panthera Resources Plc (AIM: PAT), the diversified gold exploration and development company with assets in West Africa and India, is pleased to announce the assay results from the recent drilling programme at the Kalaka Project in Mali, details of which were announced by the Company on 21 August 2023.
Highlights
- Drill assay results (based on 2m sampling intervals) include:
o 76 metres at 0.53 g/t Au (includes 10 metres at 1.16 g/t Au) in hole KRC_23_005
o 34 metres at 0.50 g/t Au in hole KRC_23_006
o 85 metres at 0.52 g/t Au in hole KRC_23_007 (includes 12 metres at 1.62 g/t Au to End of the hole)
- Completed 8 reverse circulation ("RC") drill holes for 705 metres.
- Completed drill holes to complement existing diamond and reverse circulation drilling at the K1A mineralisation - twin hole results comparable with historical drill holes assays.
- Programme interrupted due to heavy rain with the proposed northern exploration holes currently untested.
A PDF version of the announcement, inclusive of images, can be found on the Company's website or by following the link below:
pantheraresources.com/news/regulatory-news/
Background
Panthera and DFR Gold Inc (DFR) each have 40% interest in Kalaka held through their interest in Maniger Ltd. The remaining 20% interest is owned by a local partner, Golden Spear Mali SARL. Panthera is the operator of the project.
Modern exploration has included airborne geophysical surveys, soil sampling, structural interpretations, geological mapping, and drilling activities. This has included diamond (DD), air core (AC), reverse circulation (RC) and Rotary Air Blast (RAB) drilling. During 2021 Panthera completed 2,430m of shallow AC drilling. On the K1A prospect multiple intersections exceeding 150m at 0.5 g/t have been identified by Diamond and RC drilling.
The primary mineralisation at the K1A prospect, is associated with an intrusive tonalite / micro granodiorite in contact with altered metasediments. The alteration envelope is dominantly characterised by silica-feldspar flooding and sulphide mineralisation. Elsewhere there are also numerous artisanal workings within the Kalaka tenement, mainly targeting eluvial gold.
Drilling Results
The company has completed 8 reverse circulation drill holes for 705 metres advance at the K1A Prospect at the Kalaka Project in Mali. Fire assay results have been received for all samples submitted to the SGS Laboratory located in Bamako.
Significant mineralisation was intersected in the drilling at the K1A prospect, including in KRC_23_007 12 metres to the end of the hole grading 1.62 g/t Au. Mineralisation seen in the new drilling is comparable to historical drilling in the two drill holes drilled for comparison purposes. The twinned holes were as follows:
- historical hole K1RC4 to current hole KRC_23_006; and
- historical hole K1ARC028 to current hole KRC_23_007.
Table 1 below lists significant gold intersections.
Table 1
| HOLE_ID | Interval (m) | m From To | m To | Au g/t | |||
|---|---|---|---|---|---|---|---|
| KRC_23_002 | 60 | 18 | 78 | 0.31 | |||
| inc | 10 | 54 | 64 | 0.62 | |||
| inc | 2 | 54 | 56 | 1.41 | |||
| KRC_23_003 | 31 | 30 | 61 | 0.20 | |||
| KRC_23_004 | 60 | 4 | 64 | 0.31 | |||
| inc | 34 | 12 | 46 | 0.40 | |||
| KRC_23_005 | 76 | 6 | 82 | 0.53 | |||
| inc | 10 | 18 | 28 | 1.16 | |||
| and | 22 | 34 | 56 | 0.55 | |||
| KRC_23_006 | 74 | 4 | 78 | 0.38 | |||
| inc | 34 | 14 | 48 | 0.50 | |||
| Compare Historical hole K1RC4 to KRC_23_006 | |||||||
| K1RC4 | 85 | 10 | 95 | 0.58 | |||
| KRC_23_007 | 85 | 10 | 95 | 0.52 | |||
| inc | 12 | 38 | 50 | 0.74 | |||
| and | 10 | 56 | 66 | 0.55 | |||
| and | 12 | 82 | 94 | 1.62 | |||
| Compare Historical hole K1ARC028 to KRC_23_007 | |||||||
| K1ARC028 | 74 | 4 | 78 | 0.61 | |||
| The following table lists the completed drill holes: | |||||||
| Table 2 | |||||||
| mE | mN | BH_ID | AZ | DIP | RL | EOH | TYPE |
| 743669 | 1233498 | KRC_23_010 | 120 | -60 | 335 | 120 | RC |
| 743015 | 1232840 | KRC_23_002 | 120 | -60 | 334 | 96 | RC |
| 743077 | 1232804 | KRC_23_001 | 120 | -60 | 334 | 120 | RC |
| 742960 | 1233062 | KRC_23_003 | 120 | -60 | 334 | 61 | RC |
| 743015 | 1233030 | KRC_23_004 | 120 | -60 | 334 | 53 | RC |
| 743065 | 1233005 | KRC_23_005 | 120 | -60 | 334 | 82 | RC |
| 743040 | 1233072 | KRC_23_006 | 120 | -55 | 335.1 | 78 | RC |
| 743030 | 1232970 | KRC_23_007 | 120 | -60 | 335.6 | 95 | RC |
| TOTAL: | 705m | ||||||
All assays referenced here are for 50g Fire Assay analyses performed by SGS Laboratories in Bamako. All samples reported here were two-metre primary samples.
UK Market Abuse Regulation (UK MAR) Disclosure
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.