Skip to content

Panthera Resources (PAT) Begins Drilling at Bassala Project

Practice Stock Trading Your Capitals Is At Risk
Updated 22 Jun 2021
Panthera Resources logo

Panthera Resources (LON: PAT) said on Tuesday that drilling has commenced at the Bassala Project in Mali for a planned 9,000m air-core (AC) and reverse circulation (RC) drilling programme.


The programme is primarily comprising AC drilling to identify mineralised zones in the basement rock.

There are 22 targets set to be drill tested with assay results expected from Q3 2021.

Previous IP surveys at the site confirmed two major gold anomalous trends at the site located within a highly gold-endowed Birimian volcano-sedimentary belt in southwestern Mali, approximately 200km south of the capital city Bamako.

Mark Bolton, Managing Director of Panthera, said: “While the Bassala Project is relatively early stage, its prospectivity and very close proximity to two significant gold mines has seen the Company prioritise exploration activity on this project. Over the previous nine months, the Company has completed an extensive gold in soil and ground magnetic survey and has also recently completed an IP survey.

“The exploration activity at Bassala has identified several, well-defined chargeability highs, over extensive zones, which are often associated with gold in soil anomalies and/or artisanal mining activity. Given the encouraging results, we have rapidly mobilised a drill rig to test these large anomalies before the onset of the wet season.

“Bassala is only one of many of our projects in West Africa, that we are actively advancing to deliver shareholder value. Drilling is now underway at both Bassala and Labola and an IP survey is also underway at Kalaka.”

Panthera Resources share price is currently up 2.5% at 12.3p on Tuesday, although it is down 62.7% in 2021.

Should you invest in Panthera Resources shares?

Panthera Resources shares are traded on the London stock exchange’s AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Panthera Resources shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies