28/02/2022 - 17:35

Panther strikes high-grade nickel and cobalt

28/02/2022 - 17:35

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Panther Metals has amassed high-grade nickel and cobalt zones in all drill holes assayed to date in a maiden program at the company’s flagship Coglia project just 70 kilometres east of Glencore’s Murrin Murrin mine about 880 kilometres east of Perth. Noteworthy results include 14 metres grading 1.17 per cent nickel from 49m downhole with an internal metre going 3.44 per cent nickel and 1,460 ppm cobalt.

Panther strikes high-grade nickel and cobalt
Nickel and cobalt ore from Panther Metals’ Coglia project in WA. Credit: File

WA based explorer Panther Metals has amassed high-grade nickel and cobalt zones in all drill holes assayed to date in a maiden program at the company’s flagship Coglia project just 70 kilometres east of Glencore’s Murrin Murrin mine about 880 kilometres east of Perth. Noteworthy results include 14 metres grading 1.17 per cent nickel from 49m downhole with an internal metre going 3.44 per cent nickel and 1,460 ppm cobalt.

Noteworthy results from recently returned assays include 14 metres grading 1.17 per cent nickel from 49m downhole with an internal metre going 3.44 per cent nickel and 1,460 parts per million cobalt.

Other notable results from recent drilling at Coglia include 21m at 1.23 per cent nickel from 79m downhole and 15m at 0.99 per cent nickel from 66m including a 2m section grading 1,145 ppm cobalt.

Importantly, the results recently received cover only 5 out of 59 initial planned RC holes making up a planned 6,000m program with 3,478 assays still at the laboratory awaiting analysis.

The recent high-grade results add to a spate of significant historical drill intercepts at Coglia including 6m grading 2.5 per cent nickel and 808ppm cobalt and 6m going 1.57 per cent nickel and 2,170ppm cobalt.

A JORC exploration target was previously estimated by Geomin Services in June 2021 for Coglia showing a 30 to 50 million tonne deposit at an average grade of 0.6 to 0.8 per cent nickel and 400 to 600 parts per million cobalt based on historical drilling at Coglia. Heron Resources controlled the area from 2001 to 2003 and punched 20 RC holes into it for a total of 1,562m, delineating a horizon of nickel laterite mineralisation.

Mineralisation has been noted within a new zone that sits outside of the current exploration target estimate. Panther has added an additional four holes to the program to test the extensions of the new mineralised zone.

Once drilling from the maiden 6,000m RC program is complete the company plans to commence a JORC compliant mineral resource estimate before shifting the drill rig to its Eight Foot Well gold prospect located just to the south of the Lunnon Metals owned Woodline Well nickel mine.

The company says initial drill testing at Eight Foot Well has shown potential to host a shallow gold resource with notable drill intercepts including 2m grading 9.2 g/t gold, 1m going 7.02g/t gold and 4m at 4.63g/t gold.

Panther Metals’ Managing Director, Daniel Tuffin said: "I am exceedingly pleased with these results. This positive outcome is well received, particularly given that it has been just 80 days since Panther listed on the ASX. In this short time at Coglia, we have almost completed our maiden 6,000m RC program and discovered an extension to the historic nickel and cobalt mineralisation zone. The significantly high grades of nickel and cobalt encountered within thick zones of lateritic mineralisation were intersected both inside and outside of the current Exploration Target. We are looking forward to releasing the full results of the Coglia drill program in due course.”

With demand for nickel forecasted to outstrip supply over the next decade Panther appears to have chosen the right time to charge into the sector. With the early signs from its productive tenure showing encouraging results the expectation will be on the next lot of assays that trickle back from the lab, if they continue the current trend then pulses should start to quicken.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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