TIDMPAT
RNS Number : 3989O
Panthera Resources PLC
09 February 2021
9 February 2021
Panthera Resources Plc
(Panthera, PAT or the Company)
High-Grade Soil Anomalies at Bido
Panthera Resources Plc (AIM: PAT), the diversified gold
exploration and development company with assets in West Africa and
India, is pleased to report exceptionally high-grade gold in soil
anomalies from the recently completed sampling programme at its
Bido project in Burkina Faso, West Africa. PAT is earning up to
100%, ex any government interest, in the Bido project.
Highlights
-- Survey completed with 1,166 soil samples collected on lines
200m part with samples every 50m along lines, together with
assays
-- Several high-grade gold in soil assays received including some individual, point samples:
- 26,500ppb Au (26.5g/t Au)
- 16,700ppb Au (16.7g/t Au)
- 4,150ppb Au (4.15g/t Au)
- 3,720ppb Au (3.72g/t Au)
- 3,060ppb Au (3.06g/t Au)
- 2,100ppb Au (2.1g/t Au)
-- Identified a northwest-trending zone approximately 2,500m
long that is contourable at 32ppb Au with a 1,600m core area that
is contourable at 64ppb Au
-- New gold rush by artisanal miners identified north of the
recent sampling area at Beredo prospect
Mark Bolton, Managing Director of Panthera, commented:
"The survey results are excellent and confirm that this area has
the potential for high-grade mineralisation.
The next stage of work will involve infilling gold in soil
sampling of some of the better anomalies, detailed geological
mapping and rock chip sampling, and possibly some trenching and
geophysics. Subject to these results, we anticipate a drilling
programme mid-2021."
A PDF version of the announcement, inclusive of images, can be
found on the Company's website or by following the links below:
http://www.rns-pdf.londonstockexchange.com/rns/3989O_1-2021-2-9.pdf
www.pantheraresources.com/news/regulatory-news/
Overview
The Bido project is located in southern Burkina Faso,
approximately 120km WSW of the capital city Ouagadougou.
Bido is situated within a well-endowed Birimian greenstone belt
that hosts the Konkera (3.3Moz), Gaoua (3.4Moz), Wa (2.0Moz) and
Poura (1.0Moz) gold deposits to the south and the Karma (5.0Moz),
Kalsaka (1.2Moz) and Bissa (5.5Moz) gold deposits to the north. In
addition, a large zinc deposit, Perkoa (0.63Mt Zn), is located
about 35km to the north.
Soil Sampling
A total of 1,166 soil samples have now been collected, assayed
and results received. Several very high grade assays have been
returned including:
-- 26,500ppb Au (22.6g/t Au)
-- 16,700ppb Au (16.7g/t Au)
-- 4,150ppb Au (4.15g/t Au)
-- 3,720ppb Au (3.72g/t Au)
-- 3,060ppb Au (3.06g/t Au)
-- 2,100ppb Au (2.1g/t Au)
These are extremely high for gold in soil samples and are
interpreted as reflecting the residual nature of the soil profile
and the common occurrence of nuggety gold in the region. One of the
modus operandi of the local artisanal miners is the use of metal
detectors which prove to be very useful for locating the coarse
gold nuggets.
However, these high-grade samples are located in areas that have
not as yet been targeted by the artisanal miners, indicating
significant untested exploration potential including several zones
of mineralisation.
Interestingly, while the new artisanal gold rush at the
Tiekouyou Rush prospect shows anomalous gold in soil, much higher
values and more consistent anomalies are noted elsewhere.
The work has identified a major northwest-trending zone of
anomalous soils over an area of approximately 2,500m by 200m that
is contourable as 32ppb Au with a core zone of 1,600m x 100m that
is contourable at 64ppb Au with a peak value of 147ppb Au (0.15g/t
Au).
The very high-grade samples are less continuous but it is
suspected that this may be due to the skeletal soils and the broad
sample spacing of 200m x 50m. If the mineralisation is less than
50m wide (i.e. narrow high-grade quartz veins) then it will be easy
to miss at this spacing.
It is suspected that the 3.27g/t Au and the 16.7g/t Au results
may be part of the same NNW trending mineralisation system at
Tiekouyou West and geological mapping, infill sampling and probably
trenching and geophysics are proposed to test this concept.
The large main anomaly at Tiekouyou East is a high priority
target given the size potential, and additional geological mapping,
rock chip sampling, infill soil sampling and possibly trenching and
geophysics are planned in order to define drill targets for the
second half of 2021.
The Tiekouyou Rush prospect is more difficult to define, with
both north-south and north-westerly trending features interpreted.
A similar programme to that proposed for Tiekouyou East and West is
proposed in order to define drill targets.
During this work, a new mini "gold-rush" was noted in an area
within the main target zone at the Beredo prospect. The artisanal
miners appear to be targeting angular scree (not transported far)
close to the Bido vein and within a strong northwest trending
geochemical anomaly. This is encouraging and has significantly
increased the priority of this target.
The area is currently being mapped in detail as part of the
ongoing geological mapping and rock chip sampling program designed
to determine drill targets for the second half of 2021, possibly
following trenching and/or geophysical surveying if considered
warranted.
The Bido project is taking shape as an excellent exploration
opportunity with numerous untested gold in soil anomalies, some
with extremely high grades and others with significant size
potential. A model is emerging with the mafic units being a
favoured host, with potential large scale "ladder veins" cutting
across it in a northwest direction (e.g. Beredo and Tiekouyou).
Other major target zones appear to be related to contact zones such
as Somika and Kwademen.
Contacts
Panthera Resources PLC
Mark Bolton (Managing Director) +61 411 220 942
contact@pantheraresources.com
Allenby Capital Limited (Nominated Adviser & Broker) +44 (0) 20 3328 5656
John Depasquale / Asha Chotai (Corporate Finance)
Guy McDougall (Equity Sales)
Financial Public Relations
Vigo Communications Ltd +44 (0)20 7390 0230
Simon Woods / Chris McMahon
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Qualified Person
The technical information contained in this disclosure has been
reviewed and approved by Antony Truelove (BSc (Hon), MAusIMM,
MAIG), who is a qualified geologist and acts as the Qualified
Person under the AIM Rules - Note for Mining and Oil & Gas
Companies. Antony Truelove is the COO of Panthera Resources
PLC.
UK Market Abuse Regulation (UK MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of UK
MAR until the release of this announcement.
Forward-looking Statements
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