Business
Little Bear Mine Area Transferred to Panther
Little Bear Mine Area Transferred to Panther.
About this update from Panther Metals Plc
[{"type":"text","content":"\n \n5 June 2019\n\nPanther Metals PLC\n\n(“Panther†or the “Companyâ€)\n\nBig Bear Project – Little Bear Mine Area Transferred to Panther\n\nPanther Metals Plc (NEX:PALM) the NEX listed, London based, exploration and development company is delighted to announce the transfer of the Little Bear Mine area, previously a patented claim wholly enclosed within the recently acquired Little Bear North claims (announced 22 May 2019), into the Company. The addition of the mine area at nil cost to Panther is a significant addition to the Big Bear Project, in Ontario, Canada.\n\nDarren Hazelwood, Chief Executive Officer, commented:\n\n“The strategic increase of the Big Bear property announced over the last month, combined with the confirmation that the Little Bear Mine is now incorporated within Panther Metals held ground is a significant event for the business and its shareholders.\n\nThe historically reported one-ton bulk sample equivalent to 1,564g/t Au from the Little Bear Mine vein and the results of recent soil sampling in Panther’s wider Big Bear Project area, up to of 18g/t gold in soil, show the region has real exploration potential. The adage of where there is smoke there is fire, gives credence to the potential for as an as-yet undiscovered gold vein plumbing system within the Big Bear Project area.â€\n\nHighlights\n\n\nTransfer of the Little Bear Mine area to Panther results from a tax payment default by the previous patented claim holders, curtailing the previous 21-year claim term on the 1st June 2019.\n\nOntario licencing authorities have confirmed that the ground over the mine has now transferred to Panther as the Company is the sole holder of the encompassing claims (constituting the Little Bear North claim area).\n\nThe historical Little Bear Mine vein was a small-scale high-grade gold working from a shallow shaft and trenching, operating between discovery in 1935 and 1941. It is understood that the project was optioned by Noranda who undertook some exploration in 1983, but that area may have been largely unworked since that time.\n\nA historical data search and compilation exercise has commenced in order to plan next steps for the area.\n\nPanther considers that the Little Bear vein constitutes a high priority drill target as the bonanza grade gold mineralisation reported near surface has never been te...