Business
Acquisition of the Dotted Lake Property
Acquisition of the Dotted Lake Property.
About this update from Panther Metals Plc
[{"type":"text","content":"\n \n \n RNS Number : 1445T\n Panther Metals PLC\n 16 July 2020\n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n \n \n \n PANTHER METALS PLC\n \n \n (Incorporated in the Isle of Man with company number 009753V)\n \n \n 16TH July 2020\n \n \n Panther Metals Plc Moves into Hemlo Area\n \n \n Panther Metals PLC (LSE:PALM) (\"Panther\" or the \"Company\"), the company focused on mineral exploration in Canada and Australia, is pleased to announce the acquisition of the Dotted Lake exploration property approximately 20km from Barrick Gold Corporation's renowned Hemlo Gold Mine. \n \n \n Highlights:\n \n \n · \n The Dotted Lake property consists of 39 cells approximately 20km north-northeast of the Barrick-owned Hemlo Gold Mine, which has produced over 21 million oz of gold over 30 years.\n \n \n \n \n \n · \n Gold prospects on the property include 23.3 g/t Au over 0.3m and 9.02 g/t Au over 0.4m from channel sampling. \n \n \n \n \n \n · \n Reconnaissance rock-chip grades of up to 16.95 g/t Au along a >2km long sulphidic shear-zone have been recorded, in addition to anomalous geochemistry along this zone for both gold and base-metals.\n \n \n \n \n \n \n \n \n Darren Hazelwood, Chief Executive Officer, commented:\n \n \n \"The Hemlo area is synonymous with gold exploration and gold mining success over the last 40 years. For Panther Metals to be able to secure this property, on such favourable deal terms, represents outstanding value for the company and its shareholders. In our opinion, the presence of gold mineralisation at surface, an intriguing coincidence of geological and geophysical features, combined with no previous drilling across the project area, warrants further work.\n \n \n Our initial planned work programme in the Autumn of 2020 will include soil geochemistry and geophysical data reprocessing, as we look to build our understanding of this opportunity. Having the opportunity to work so close to one of the largest historically producing gold mines in North America br...