Business
Fulcrum Metals: Drill Planning Update
Fulcrum Metals: Drill Planning Update.
About this update from Panther Metals Plc
[{"type":"text","content":"\n\nNOT 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\nFOR IMMEDIATE RELEASE\n\n\n\n\n\n\n\nPANTHER METALS PLC\n(\"Panther\" or the \"Company\")\n(Incorporated in the Isle of Man with company number 009753V)\n18 September 2023\n \nFulcrum Metals: Drill Planning Update\n \n \nPanther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, is pleased to note the Fulcrum Metals PLC (\"Fulcrum\", LON: FMET) announcement detailing drilling programme plans for the Big Bear property and the Tully Gold Project in Ontario, Canada.\n \nPanther currently holds a total of 9,971,839 ordinary shares in Fulcrum representing a 19.99% interest in the entire issued share capital of Fulcrum, plus 714,286 warrants exercisable at 17.5p with a two-year life from 14 February 2023 and a further 476,190 warrants exercisable at 26.25p with a three-year life. Panther also retains a 2% net smelter return (\"NSR\") royalty over the Big Bear property.\n \nFulcrum have submitted a drill permit application for a drilling programme to test multiple gold targets at Big Bear during 2024. This planned programme will focus within a 3km long gold prospective corridor which contains 4 drill-ready targets and a further 5 targets for follow-up work.\n \nThe Tully Gold Project, within the Timmins-Porcupine Gold Camp, has a reported historic total gold resource of 107,000 ounces; with 76,000 ounces at 6.56g/t Au in the Indicated category; and 31,000 ounces at 5.17g/t Au in the Inferred category. Fulcrum report they are in the process of planning a winter confirmatory and infill resource drilling programme of at least 1,500 m. \n \nFurther details of the planned targets and the project backgrounds are available in the Fulcrum announcement which is available to view at https://fulcrummetals.com/news/ \n \nDarren Hazelwood, Chief Executive Officer, commented:\n \n\"Given our equity holding and project history, Panther are pleased to note that Fulcrum have submitted a drilling permit application for a multi-target drill programme at Big Bear duri...