Business
Obonga Project: Wishbone VMS Update
Panther Metals PLC has provided an update on its Obonga Project's Wishbone Prospect, highlighting the results of a high-resolution drone-based airborne magnetic geophysics survey and subsequent 3D inversion modelling. This work aims to refine drill hole parameters for an upcoming diamond drilling program, with an exploration permit valid until June 20, 2027, authorizing up to 39 drill holes. Previous drilling in 2021 and 2022 confirmed Wishbone as a volcanogenic massive sulphide (VMS) base metals target, intersecting significant sulphide mineralization, including a 27.3m intercept of massive sulphide and a 51m zone of sulphide-dominated mineralization. The company also noted potentially commercial grades of zinc in a 2022 drill hole, with 3.6m grading 3.9% Zn. Disclaimer*
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\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\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)\n27 February 2026\nObonga Project: Wishbone VMS Update\n \nPanther Metals Plc (LSE: PALM), the exploration company focused on mineral projects in Canada, is pleased to provide an update for the Obonga Project's Wishbone Prospect which is an emerging and highly prospective base metal volcanogenic massive sulphide (\"VMS\") system in Ontario, Canada.\nFollowing the completion of the 2025 high resolution drone based airborne magnetic geophysics survey (\"Magnetics Survey\") over the Wishbone Prospect, the geophysical data has subject to three-dimensional inversion modelling (Figures 1 & 2) with a view to refining the parameters of the permitted drill holes ahead of a diamond drilling programme.\nA video illustrating the results of the Magnetic Survey inversion modelling and the size and morphology of the Wishbone VMS Target and the relationship with highly anomalous copper in lake sediments is available to view on the Panther Metals PLC YouTube channel at https://youtube.com/shorts/POMgfQuSc44?feature=share1\nFigures of the magnetics inversion and structural model are set out below in Figures 1 and 2, whilst the map the processed First Vertical Derivative of the Magnetic Survey data is shown in Figure 3. Figure 4 shows the highly anomalous copper in lake and stream sediments which are located above, and which drain off the site of the Wishbone VMS Prospect. Details of the Magnetic Survey are provided in Table 1.\nThe work being planned is covered by Exploration Permit PR-24-000022, which is valid through to 20 June 2027 (F...