Panthera Resources numerous high-grade assays very encouraging as beredo gold target updated

Panthera Resources Plc (LON:PAT), the diversified gold exploration and development company with assets in West Africa and India, has announced an update on its Beredo Target at the Bido Project, following a more detailed review of historical data across the Baredo Target area as announced on 19 November 2020.

Highlights

· Previous rock chip sampling has returned assay results including 17.3 g/t Au, 11.1 g/t Au, 8.91 g/t Au, 8.38 g/t Au and 8.21g/t Au from sub-cropping quartz veins over an area of about 3000m x 500m

· Veins generally trend approximately north-south, sometimes associated with artisanal workings

· Veins show evidence of box works after sulphides, tourmaline, and potassic alteration of host rocks

· Previous soil sampling delineated a series of north-northwest to north-south trending zones of anomalous gold in soil

· These are often associated with significant zones of eluvial artisanal gold mining activity

Mark Bolton, Managing Director of Panthera Resources, commented:

“The numerous high-grade assays returned from an area with no previous drilling is very encouraging. It is unusual to obtain such good values from outcropping quartz veins, many of which have not been targeted by the local artisanal miners.

During the upcoming survey, our geological team will map the outcropping and sub cropping quartz veins in detail and increase the current sample density to locate drill collars. If warranted, this may also be followed up with a geophysical IP survey in order to trace veins under scree cover and at depth.

A new geological model is emerging to explain the formation of these veins and this will be built upon and reported after results of the current soil sampling survey are to hand.”

During the recent site visit to coordinate the gold in soil survey which has subsequently commenced, quartz veins were observed in the northeast of the survey area. As a consequence, the Company elected to re-evaluate the geological model together with all historical data in this zone through to the Bido Vein.

The area is defined by a combination of geology (mapped quartz veins at the surface), gold in soil geochemistry, artisanal mining activity, and rock chip sampling. Some high-grade gold assays have been returned from outcropping to sub cropping quartz veins, sometimes associated with artisanal mining but other times not targeted at all by the local artisanal miners.

Significant assay results returned to date include 17.3 g/t Au, 11.1 g/t Au, 8.91 g/t Au, 8.38 g/t Au and 8.21g/t Au. The quartz veins generally show evidence of box works after sulphides, tourmaline, and potassic alteration of the host rocks.

Table 1: Baredo Rock Chip Sampling Results