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Panther chases gold in WA precious metal probe

Mineral explorer Panther Metals has gold in its sights after launching a 2500 metre RC drill program at its Eight Foot Well prospect near Laverton in Western Australia.

The campaign will see Panther kick off infill and extensional drilling as it looks to vector in on the region’s historic gold trend in search of a mineral resource.

Panther says its rolling work at the prospect could extend its strike and depth.

Historic drilling at the Eight Foot Well Gold prospect consists primarily of shallow rotary air blast, or ‘RAB’ and air-core drilling carried out by Homestake Australia in the mid-1990s.

Subsequent RC drilling was conducted over the mineralised zones identified in the earlier campaigns but failed to pinpoint any good geological continuity with the shallow drilling methods used.

The work was also unable to define the primary source of the supergene mineralisation previously detected in the RAB and air-core drilling.

Panther is looking to convert some of the historic uncertainties into concrete answers with its latest probe and believes the work could pinpoint the source of the region’s gold.

According to the company, its ongoing work at the Eight Foot Well prospect signals the next chapter in a two-pronged commodity pursuit that will see it utilise the same drill rig and personnel that worked on its nearby Coglia Nickel-Cobalt drill campaign.

The explorer is currently awaiting more than 30 assay results from the Coglia Nickel-Cobalt project and says it will keep the drill rig busy at the Eight Foot Well prospect in the meantime.

Panther previously said the initial assay results from its work at Coglia delivered its highest nickel and cobalt grades at the venture to date.

The banner results from that campaign included a 1m intercept going 3.77 per cent nickel from 74m in one hole and another 1m section at 3,160 parts per million cobalt from 49m in another.

The nickel hit was housed within a larger 21m strike grading 1.34 per cent nickel from 72m with a 12m section going 1.87 per cent nickel from 74m.

The 3000 ppm-plus cobalt strike sat inside a 12m intersection going a little over 1 per cent nickel from 47m, with a richer 7m intercept running 1.14 per cent nickel from 49m. Cobalt mineralisation in the hole included a 5m unit grading 1812 parts per million from 47m.

Panther says it will progress a mineral resource estimate for the Coglia Nickel-Cobalt project once it has the outstanding samples in its hands.

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

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