Panthera Resources commences field work at its Bassala project

Gold Project

Panthera Resources Plc (LON:PAT), the diversified gold exploration and development company with assets in West Africa and India, has announced that fieldwork at its Bassala Project has now commenced. 

Highlights

·    Ground magnetic surveying now underway with soil sampling to commence shortly

·    Programme to define and rank drill targets for testing during H1 2021

·    Processed results from ground magnetic survey due by early November 2020

·    High-grade intersections from previous drilling and artisanal workings

·    Located within 5-8km of Kalana (Endeavour, 4Moz) of Kodieran (Wassoul’or, 2Moz) mines

The Bassala Project is located in southwestern Mali, approximately 200km south of the capital city Bamako.  Following the end of the wet season and the easing of COVID-19 restrictions, an initial field visit to the Bassala site has now been completed and necessary clearances obtained from local officials to commence the detailed fieldwork programme comprising of ground magnetic surveying and extensions of the previous soil sampling.  The field visit also confirmed that ground conditions are suitable to undertake the magnetic survey and accordingly the ground magnetic survey has now commenced with the soil sampling expected to start in early November. 

Significant gold mineralisation has already been confirmed by the historical drill results that include:

·    21m @ 1.15g/t Au from 15m including 3m @ 4.52g/t Au from 33m

·    15m @ 0.56g/t Au from 3m to the end of the hole

·    3m @ 0.78g/t Au from 21m to the end of the hole

·    6m @ 0.49g/t Au from 39m to the end of the hole

·    3m @ 1.55g/t Au from 9m

·    3m @ 1.16g/t Au from surface

·    3m @ 1.67g/t Au from surface

·    6m @ 0.40g/t Au from 18m.

The ground magnetic survey and extensional soil sampling have thus been designed to firm up drill targets for testing during early 2021.  The main deliverable from the magnetics is to obtain good quality litho-structural data as there is very little surface outcrop in this area and the previous magnetic survey data is very broad spaced. 

The main deliverable of the soil sampling is to extend high order anomalies on the edge of the survey and to sample most of the remaining untested parts of the tenement so that anomalies can be ranked based on soil anomalism, regolith type, litho-structural setting, and previous drill intercepts. 

This will define and prioritise drill targets for testing in early 2021.

Further information on the planned work programme at Bassala was announced on 12 October 2020 with a PDF version of the announcement, inclusive of images, available on the Company’s website or by following the links below:

https://www.rns-pdf.londonstockexchange.com/rns/7502B_1-2020-10-12.pdf

Commenting on the announcement, Mark Bolton, Managing Director of Panthera Resources said:

“After an extended period of inactivity in West Africa, the recommencement of fieldwork at Bassala today is enormously important for the Company.  Together with its partner, Moydow, we have an extensive activity programme planned across multiple projects through 2021.

Our shareholders now have exposure to seven highly prospective gold projects in four countries. Eight of nine assets in the Panthera portfolio have ore grade mineralisation evidenced through historical shallow mining activity and six of these projects have deeper ore grade drilling intersections.”

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