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DJ Panther Metals PLC Bear Lake Project Preliminary Exploration Results

 
TIDMPALM 
 
4th February 2019 
 
                              Panther Metals PLC 
 
                         ("Panther" or the "Company") 
 
  Panther Metals Announces Bear Lake Project Preliminary Exploration Results 
 
Panther Metals PLC (NEX:PALM) is pleased to provide an exploration update for 
the Bear Lake Project, in the Province of Ontario, Canada. The Bear Lake 
Project is an early stage exploration property held by Panther Metals (Canada) 
Ltd., a 100% owned subsidiary of Panther Metals PLC. 
 
Highlights 
 
  * Results of Q4 2018 exploration orientation work at Bear Lake Project now 
    available. 
 
  * Orientation has successfully delineated a number of high priority targets 
    for follow-up work. 
 
  * Stand-out results include: 
 
  * Gold in soil anomalies outlined in four of the five areas tested with 
    anomalies ranging up to 0.71g/t Au in soil.Soil anomalies extend up to 250m 
    wide and are open along strike. The maximum soil assay forthe previous 2011 
    Little Bear soil sampling programme was an exceptionally anomalous 18.2g/t 
    Au in soil. 
 
  * Rock assay results very encouraging, with gold bearing quartz veins 
    outlined within seven separate areas: 
 
      + Two areas with rock and vein samples grading 1 to 5 g/t Au. 
 
      + Four areas with quartz vein sample assays above 5g/t Au. 
 
      + Two quartz samples collected at 50m separation on an E-W trending vein 
        returned 105.5 g/t Au and 112 g/t Au respectively, strike is open in 
        both directions. 
 
  * A Phase 1 Exploration Programme for the spring and summer work season of 
    2019 is now being planned to follow-up on these exciting results. Work is 
    scheduled to commence as soon as the ground becomes clear of snow in early 
    Q2 2019. 
 
Darren Hazelwood, Chief Executive Officer of Panther commented: 
 
"We are delighted to report the preliminary findings of Panther's first 
exploration work since becoming a mineral focussed exploration and development 
company. 
 
The results of the orientation, verification and planning work conducted in the 
lead up to the end of 2018 are highly encouraging.  Whilst only a small part of 
the Bear Lake Project has been investigated to date, and with much of the area 
remaining untouched by modern exploration techniques, we have at least five 
areas which warrant follow-up exploration with veins grading up to 112g/t Au 
and exceptionally high soil anomalies. 
 
I look forward to engaging with our shareholders and sharing further exciting 
developments as we move forward." 
 
Maps and diagrams relating to this announcement will be made available on the 
company website:  https://www.panthermetals.co.uk/ 
 
 Bear Lake Project Exploration Update 
 
  * Bear Lake Project consists a total of 74 contiguous mining claims arranged 
    within three claim application groups (Bear Lake, Little Bear Lake and 
    Schreiber Pyramid). 
 
  * Work conducted during November included an orientation programme consisting 
    of data compilation and interpretation, soil geochemistry over five gridded 
    areas, three within the Bear Lake Project claim area, and one each within 
    the Little Bear Lake and Schreiber Pyramid claim areas, and rock chip 
    sampling within the Little Bear Lake and Schreiber Pyramid areas. 
 
  * The orientation programme was designed to plan follow up work and to verify 
    results collected by previous claim holders and confirm historical gold 
    occurrences. The orientation has successfully delineated a number of high 
    priority targets for an inaugural Phase 1 Exploration Programme scheduled 
    to commence as soon as the ground becomes clear of snow in early Q2 2019. 
 
      + A total of 150 soil samples were collected during the orientation work. 
        Samples were assayed for 30 elements by X-ray fluorescence (XRF) and 
        for gold by Inductively Coupled Plasma Atomic Emission Spectroscopy 
        (ICP-AES). 
 
      + Gold in soil anomalies are outlined in four of the five test grids with 
        anomalies ranging up to 0.71g/t Au in soil and open-ended strike 
        distances up to 250m.The maximum soil assay forthe previous 2011 Little 
        Bear soil sampling programme was 18.2g/t Au in soil, a value which is 
        considered exceptionally anomalous. 
 
      + A total of 40 rock samples were collected from rock outcrops and quartz 
        veins in ten separate areas identified by a prospecting team and from 
        historical exploration records. 
 
      + Rock assay results analysed for 50 elements and gold, received from ALS 
        Laboratories are very encouraging for gold: 
 
          o Two areas returned rock and vein samples grading 1 to 5 g/tAu. 
 
          o Four distinct separate areas returned quartz vein sample assays 
            above 5g/t Au. 
 
          o Two quartz samples collected at a separation of 50m on an E-W 
            trending 26cm wide surface outcropping quartz vein returned 105.5 g 
            /t Au and 112 g/t Au respectively. 
 
  * A Phase 1 Exploration Programme for the spring summer work season of 2019 
    is now being planned.Work is expected to include: 
 
      + Infill soil sampling, ground magnetics, selective stripping and 
        geological mapping across anomalies identified during the orientation 
        and 2011 work programmes, especially the five areas with veins 
        containing high grade gold. 
 
      + Systematic soil sampling and ground geophysics on two high priority 
        survey grids, 'Schreiber Ridge' and 'Big Bear Ridge East', which cover 
        the up to 1.5km long strike extensions to gold anomalies outlined in 
        the orientation programme and which coincide with perceived structural 
        lineaments and regional scale geophysical anomalies outlined by 
        government airborne magnetic and resistivity survey data. 
 
      + Systematic soil sampling and ground geophysics conducted over two 
        additional grid areas, 'Big Bear Ridge West' and 'Big Bear Bottom' 
        which coincide with both perceived structural lineaments and airborne 
        geophysics anomalies, but which remain largely untested by any previous 
        work. 
 
  * Further details will be released in due course. 
 
The technical information contained in this disclosure has been read and 
approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), who is a qualified 
geologist and acts as the Competent Person, working for Mining Analyst 
Consulting Ltd.  Mr O'Reilly is also a Non-Executive Director of Panther Metals 
PLC. 
 
The directors of the Company accept responsibility for the contents of this 
announcement. 
 
For further information on the Company visit www.panthermetals.co.uk or 
contact: 
 
Panther Metals    info@panthermetals.co.uk 
PLC 
 
Darren Hazelwood  Chief Executive Officer        + 44 (0)7971 957 685 
 
Mitchell Smith    Chief Operating Officer        + 1 (604) 209 6678 
 
Mark Anwyl        Peterhouse Capital Ltd         +44 (0) 7469 0930 
Guy Miller        (NEX Exchange Corporate 
                  Adviser) 
 
Panther Metals plc (NEX: PALM) 
 
Panther, the London NEX Exchange Growth Market listed investor in strategic 
natural resource opportunities, is focused on generating shareholder value 
through advancing high-quality exploration opportunities in stable and mining 
friendly jurisdictions. 
 
The board has demonstrated capability in taking projects from early grassroots 
stage through the development curve to production, with a combined 40 years' 
experience in the mineral exploration and mining finance sectors. 
 
 
 
END 
 

(END) Dow Jones Newswires

February 04, 2019 02:00 ET (07:00 GMT)