Panthera Resources Reports Promising Drill Results at Kalaka and Bido Gold Projects

Highlights:

• Kalaka Project Success: Significant gold intercepts were recorded, confirming a wide mineralized zone extending to 240 metres depth.
• Positive Indications at Bido: High-grade intersections identified at the Somika Hill and Beredo-Kiekouyou prospects show strong potential for future exploration.
• Large-Scale Gold Systems: Both projects demonstrate extensive mineralized zones, providing substantial opportunities for expansion.

Panthera Resources PLC (LSE:PAT) has announced positive drilling results from its ongoing exploration at the Kalaka project in Mali and the Bido project in Burkina Faso. The reverse circulation (RC) drilling programme has identified significant gold mineralization across both sites, highlighting the strong potential for large-scale gold systems in the region.

Kalaka Project Delivers Wide Gold Intercepts

At the Kalaka project, the RC drill programme covered a total of 756 metres, focusing on the K1A prospect. The drilling results have confirmed the presence of a substantial mineralized zone, with gold intercepts extending up to 264 metres. Grades ranged between 0.54 grams per tonne (g/t) and 0.38 g/t, reinforcing the prospect’s potential as a low-grade, bulk-tonnage deposit. The true width of the mineralized zone has been determined to be at least 150 metres, and the drill depth reached 240 metres, indicating the continuation of the gold system at depth.

Panthera’s managing director, Mark Bolton, commented on the findings, stating: "The results at the K1A prospect demonstrate the large-scale, near-surface gold mineralization at Kalaka. Higher-grade zones along the eastern contact have been identified from surface to a depth of 200 metres, supporting the project’s development potential."

The positive metallurgical outcomes and the strong gold price performance in 2024 further enhance the economic viability of the Kalaka project, suggesting a promising outlook for continued exploration and potential resource development.

Encouraging Results at Bido Project in Burkina Faso

Panthera’s exploration at the Bido project in Burkina Faso also yielded significant gold intercepts across key targets. The drilling programme encompassed 2,483 metres of RC drilling, targeting the Somika Hill and Kaga vein systems. Notable results included intersections of 14 metres at 0.91 g/t gold and 12 metres at 0.56 g/t gold, indicating a robust mineralized structure.

Additionally, the Beredo-Kiekouyou prospect returned high-grade results, with peak intersections of 2 metres at 4.45 g/t gold and 5 metres at 1.79 g/t gold. These results highlight the presence of extensive gold systems with strong potential for along-strike and down-dip extensions.

Bolton emphasized the significance of the Bido findings, noting: "The drill results at Somika Hill and Beredo-Kiekouyou confirm the presence of gold mineralization in oxidized zones, accompanied by significant alteration. The prospects show considerable potential for further exploration, which will be pursued in subsequent drill programmes."

Looking Ahead: Expansion Opportunities and Continued Exploration

Panthera Resources plans to continue advancing its geological models and exploration strategies at both Kalaka and Bido. The company aims to further delineate the mineralized zones through additional drilling, focusing on expanding the identified gold systems and assessing their economic viability.

The positive drilling results, combined with favorable metallurgical outcomes and a strong gold price environment, position Panthera to advance its projects towards potential resource estimates. The upcoming exploration activities will aim to capitalize on the promising intercepts reported, with the goal of unlocking significant value from the Kalaka and Bido projects.

Panthera’s strategic focus on high-potential gold assets in West Africa, coupled with the strong results from its current drill programmes, underlines the company’s commitment to building a robust pipeline of gold projects in the region. As exploration progresses, the market will closely watch Panthera’s efforts to advance these projects and deliver on its growth objectives.