Panther Metals has wasted no time getting stuck into its maiden RC drilling campaign targeting nickel sulphides at its Coglia project in WA after listing on the ASX only last week. The planned 6,000 metre program will explore the deeper nickel sulphide potential at the Coglia nickel-cobalt project southeast of Laverton before shifting focus to the company’s Eight Foot Well gold project nearby.
The maiden drill program makes up the first part of an extensive two-year exploration program designed to pepper Panther’s nickel, gold and cobalt prospects with drill holes at its east Laverton tenure.
In addition to wrapping a mineral resource around Coglia, RC drilling is also intended to yield material for metallurgical and mineralogical test-work.
Several drill holes are planned to exceed all historically drilled depths in the Coglia project area, providing an element of curiosity and perhaps even a touch of excitement for the project.
Coglia sits approximately 70 kilometres east of Glencore’s Murrin Murrin plant and also hosts a nickel-cobalt laterite deposit that it is currently mining. Glencore reported reserve figures at Murrin Murrin in 2018 of approximately 1.05 per cent nickel and approximately 800ppm cobalt.
Based on previous drilling completed by Panther’s predecessors, the Coglia project is estimated to house a JORC exploration target of between 30 million tonnes and 50 million tonnes grading between 0.6 and 0.8 per cent nickel and between 400 and 600 parts per million cobalt.
Significant previous drill intercepts at the Coglia nickel-cobalt project include 6m grading 2.5 per cent nickel and 808ppm cobalt and a 6m hit going 1.57 per cent nickel and 2,170ppm cobalt.
Previous notable intercepts at Eight Foot Well include 2m going 9.2g/t gold, 1m grading 7.02 g/t gold and 4m at 4.63 g/t gold with a grab bag of other solid drill hits all within 40m of surface.
Panther Metals Managing Director, Daniel Tuffin said:
"Panther Metals planned an extensive two-year exploration program prior to listing, which we intend to act upon. As such, we are pleased to announce drilling has commenced at the Coglia Nickel-Cobalt Project soon after listing as planned.”
“This 6,000m infill drill program forms the first step in our two-year plan to convert existing nickel, cobalt and gold prospects into JORC compliant exploration targets or resources while also exploring missed opportunities and discoveries, such as the recently identified 2.5km x 5.0km 40 Mile Camp Gold Anomaly”
With $5m in the kitty from the recent IPO, Panther looks to have wasted little time getting stuck into drilling its prospective tenure in the gold and nickel endowed Laverton region – now for a few results.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
