Announcement Date: 2022-06-27
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Panther Metals Ltd.
Project name: Coglia
Location: Australia
Commodities: Nickel,Cobalt
Highlight: Initial Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Panther Metals Ltd (ASX: PNT), (‘Panther’ or ‘the Company’) is pleased to announce the release of its maiden Nickel-Cobalt MRE for the Coglia Project. The maiden MRE exceeds the upper limit of the former JET by 20 million tonnes, 40% larger than the former JET. The Company’s maiden Coglia drill program has also resulted in a new Southern JET of 34Mt-62Mt at 0.40-0.65% Ni and 400-600ppm Co over a total area of ~2.7km2 and strike length of ~2.8km, while internal geophysical modelling and interpretation has highlighted a further two drill targets, ‘East’ and ‘Central’, covering a total area of ~3.7km2. The Coglia Nickel-Cobalt Project covers the eastern side of a significant greenstone belt which splays off the major Erlistoun Syncline. The belt is up to 10km wide but narrows to 3km wide in sections. The belt consists of a layered sequence of mafic and ultramafic rocks. In the central area and to the east, isolated outcrops of amphibolite (mafic hornfels) and foliated biotite granite are located on the granite/greenstone contact. Minor thin interlayered gabbro units occur throughout the tenement. Minor BIF units also occur in the northern part of the tenement area, folded within a structurally complex sequence of highly magnetic (N-S trending) mafic and ultramafic rocks which surround an internal granitoid.
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