Panthera Resources Plc (LON:PAT), the diversified gold exploration and development company with assets in West Africa and India, has announced that the initial assay results from the recent aircore (AC) drilling programme at Bassala have confirmed the presence of significant gold mineralisation.
Highlights
· Significant drill intercepts from the 5m composite samples include:
o 45m @ 0.57g/t Au from 25m incl. 5m @ 2.53g/t Au from 40m
o 30m @ 0.88g/t Au from 20m incl. 5m @ 3.18g/t Au from 20m
o 20m @ 0.75g/t Au from 15m incl. 5m @ 1.92g/t Au from 15m
o 15m @ 0.44g/t Au from 25m
o 10m @ 0.96g/t Au from 35m incl. 5m @ 1.44g/t Au from 35m
o 10m @ 0.93g/t Au from 30m incl. 5m @ 1.38g/t Au from 30m
o 10m @ 0.87g/t Au from 20m
o 5m @ 5.10g/t Au from 15m
o 5m @ 2.75g/t Au from 55m
o 5m @ 1.67g/t Au from 15m
o 5m @ 1.18g/t Au from 5m
o 5m @ 1.08g/t Au from 20m
· Approximately 22% (843) of the 2,191 five metre composite samples collected from the AC drilling have now been assayed at SGS Laboratory in Bamako
· Assay results are from four of the 13 targets drilled, with each of the targets returning significant gold intercepts
· Preliminary interpretation suggests a prominent, flat-lying (sub-horizontal) structural control to gold mineralisation, similar to that evident at the nearby Kalana mine (Endeavour Mining Plc, LSE: EDV)
· The remaining 78% of assays will be reported periodically over the coming weeks
· The remaining 9 of the 22 targets identified at Bassala are planned to be drilled after the wet season
Commenting on the announcement, Mark Bolton, Managing Director of Panthera Resources said:
“The assays to date are very encouraging for first pass aircore drilling and representing only four of the 22 targets we have identified at Bassala. All of the four targets tested have returned significant gold mineralisation from the shallow AC drilling and many of the intercepts may be close to true thickness if the current interpretation of relatively flat-lying mineralisation is confirmed.
It is encouraging that the current interpretation is that mineralisation may in part be flat-lying, similar to the nearby Kalana mineralisation (Endeavour Resources) which consists of a series of stacked sub-horizontal zones. If this interpretation is correct, only the uppermost zones will have been intersected in this shallow drilling, with potential for further zones at depth.”
