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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.
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