Pantthera Resources share price up by over 6%
Panthera Resources (LON:PAT), the gold development company, confirmed on Friday that its planned 5,000m drilling programme has commenced as the Labola (Wuo Land) Project in Burkina Faso.
Drilling will primarily support a maiden resource estimate, while several exploration targets will also be drill tested.
Assay results are expected by Q3 of 2021.
Panthera also said its drilling will test a subset of results found by High River Gold Mines and Tauras Gold between 2008 and 2012. The drilling amounted to 65,556m in 541 holes, Panthera added.
Additionally, the drill programme will look at the coarse gold component of the mineralisation via the leach technique “LeachWell” to see if historical assay results may have underreported gold grades.
Other work at Labola in support of the maiden resource will include: re-logging, quality control, satellite and terrain models and identifying artisanal workings and how much material they have moved.
The area contains numerous artisanal workings over at least 14,000m strike, said Panthera, which appear to be targeting high-grade shoots within individual quartz veins.
The Panthera resources share price is up 6.67% 14.40p per share.
The company confirmed recently that it would not extend a term sheet with Galaxy Gold Mines Pvt Ltd following the recent change in the Indian mining law.
Panthera Resources, incorporated in the UK and Wales in 2017, is focused on exploration and development of its gold projects in India and West Africa and the optimisation of other mineral properties.