Business
Bido Licence Award
Bido Licence Award.
About this update from Panthera Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2095B\n Panthera Resources PLC\n 06 October 2020\n \n \n \n \n \n \n \n \n \n \n \n \n 6 October 2020\n \n \n \n \n \n Panthera Resources Plc\n \n \n (\"Panthera\" or \"the Company\")\n \n \n \n \n \n Bido Licence Award\n \n \n \n \n \n Panthera Resources plc (AIM: PAT), the gold exploration and development company with assets in West Africa and India, is pleased to announce that it has successfully secured its interest in the Bido PRM (formerly Naton PRM) (the \"Licence\" or \"Bido\") with the support of the Ministry of Mines of Burkina Faso and the Licence's joint venture partners.\n \n \n \n \n \n Highlights\n \n \n · \n The 100km2 Bido Licence is located in the prolific Poura Birimian greenstone belt, Burkina Faso\n \n \n · \n Multiple gold prospects across the Licence area including extensive historical artisanal workings\n \n \n · \n Recently obtained historic data revealing high-grade gold drill intercepts at the Kwademen prospect including 23m @ 1.53g/t Au\n \n \n · \n Geophysical and drilling programmes are currently being considered\n \n \n \n \n \n A PDF version of the announcement, inclusive of images, can be found on the Company's website or by following the link below:\n \n \n \n \n \n \n http://www.rns-pdf.londonstockexchange.com/rns/2095B_1-2020-10-6.pdf\n \n \n \n \n \n \n www.pantheraresources.com/news/regulatory-news/\n \n \n \n \n \n \n \n \n \n Background to the Bido Licence\n \n \n \n \n \n The Naton PRM was due for renewal in late 2019, however, due to administrative procedural difficulties, the Arreté was not capable of renewal by our joint venture partners. Following recent discussions with the Mines Department and the Minister of Mines, a new licence has now been awarded to our joint venture partners, Messieurs Boubacar Sanou and Karime Sanou, by the Government of Burkina Faso. The new licence, Bido, has an initial term of three years and is further renewable for another two terms of three years each, with an aggregated term of nine years available to conduct exploration activities if all the applicable conditions below have been met.\n \n \n \n \n \n Under the joint venture agreement, Panthera is earning an 80% interest in Bido following exploration expe...