Panther Metals Ltd (ASX: PNT) reports that Rig 8 from Gyro Drilling has commenced a 6,000m reverse circulation (RC) exploration programme at the Coglia Nickel-Cobalt Project in Western Australia.
The drilling has been planned to generate a maiden Mineral Resource Estimate whilst also exploring deeper for potential nickel sulphide mineralisation.
Panther Metals planned an extensive two-year exploration programme prior to listing, which we intend to act upon,” Managing Director, Daniel Tuffin, said.
“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 programme 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 In keeping with our two-year program, we intend to continue to have the drill bit spinning, with plans to move to the Eight Foot Well Gold Project once the drilling at Coglia is complete.”
Exploration programme
Panther plans to upgrade the current JORC Exploration Target (JET) to a Mineral Resource Estimate (MRE) with a 6,000m infill drill programme and is also intended to yield material for metallurgical and mineralogical test-work.
The drilling programme also includes holes planned with depths exceeding any historically drilled to explore and test for deeper potential nickel sulphide mineralisation.
The Coglia Project is located in the Laverton region of WA, 70km east of Glencore’s Murrin Murrin Nickel-Cobalt plant.
The project area is highly prospective for nickel-cobalt laterite mineralisation and the potential to host nickel sulphide mineralisation.
Based upon the previous exploration by Heron Resources (2001-03) and Whitecliff Minerals (2018), Panther recently estimated a Nickel-Cobalt JORC Exploration Target of 30-50Mt.