Business
Completion of Drilling at Kalaka
Completion of Drilling at Kalaka.
About this update from Panthera Resources Plc
[{"type":"text","content":"\n\n27 August 2024\n \nPanthera Resources Plc\n(\"Panthera\" or \"the Company\")\n \nCompletion of Drilling at Kalaka Project\n \nPanthera Resources Plc (AIM: PAT), the diversified gold exploration and development company with assets in West Africa and India, is pleased to announce that the drilling programme at the Kalaka Project in Mali has been completed. \n \nIn accordance with the drill programme, two diamond drill holes for 647 metres were completed. Core samples will be submitted to the SGS Laboratory in Bamako with results expected on or about end of September 2024.\n \nAbout the Kalaka Project\n \nThe Kalaka gold project, which is operated by Panthera, is situated in southern Mali (Figure 1), 80km south of the 8 Moz Morila gold mine and 85km northwest of the 6 Moz Syama gold mine (Resolute). Panthera believes the property has large scale potential.\n \n\nFig 1: West African Projects Location Plan\n \nHistorical drilling has intersected impressive mineralization widths at the K1A target within a very large 0.5g/t Au mineralization envelope. Drilling intersections at K1A have included 249m @ 0.54g/t Au (to end of hole). The tenement hosts some 45km of prospective geology and structures along strike from K1A as defined from drilling, surface geochemical and geophysical surveys.\n \nAt the K1A target area, the Company's Competent Person Report (prepared by Golder Associates Pty Ltd), which was disclosed in the Company's AIM Admission Document, reported that drilling by past explorers defined a potential endowment of 250,000 to 500,000 ounces. Furthermore, Golder Associates Pty Ltd (\"Golder\") reported that this represents an exploration target where further infill drilling may lead to the estimation of a Mineral Resource.\n \nMore recently, follow-up work by Panthera including re-examination of all available drill data at K1A, identified a mineralised envelope that broadly conforms to the potential endowment mentioned by Golder. This work identifies an exploration target of between 0.5 Moz to 1 Moz gold. Importantly, the Company is yet to drill the northern extension of the mineralisation at K1A together with several similar targets within the project area. Taken together this would potentially expand the exploration target to approximately 3 Moz of gold.\...