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Panthera Resources PLC (LSE:PAT) has recently completed an extensive drilling program at its Kalaka project located in Mali. The drilling involved core samples from two diamond drill holes, totaling 647 meters in depth. These core samples are set to be analyzed at the SGS laboratory in Bamako, with results anticipated by the end of September.
This drilling program is a critical step for Panthera as it seeks to advance its exploration efforts at Kalaka. Recent work by the company, including a comprehensive re-evaluation of all available drill data from the K1A site, has led to the identification of a significant exploration target. Panthera estimates this target to range between 0.5 million ounces (Moz) and 1 Moz of gold. This initial estimate reflects the potential resource that could be present based on current data and drilling results.
Importantly, Panthera has indicated that the northern extension of the mineralization at K1A remains undrilled. Additionally, several similar targets within the project area have yet to be explored. The potential for these areas to contribute to the overall resource estimate is substantial. As a result, the exploration target could be expanded to approximately three million ounces of gold, considering the untested northern extension and other identified targets within the project’s boundaries.
This expanded target would represent a significant increase in the estimated resource potential at Kalaka, underscoring the project's prospectivity and the continued value of ongoing exploration efforts. The new data and potential extensions could enhance Panthera’s position in the market and provide further opportunities for resource development.
Overall, the completion of this drilling program and the subsequent analysis of core samples mark important milestones for Panthera Resources. The anticipated results from the SGS laboratory are expected to provide deeper insights into the gold mineralization at Kalaka, potentially leading to further exploration and development activities. With the potential to expand the resource target to around three million ounces, Panthera is poised to make significant strides in advancing the Kalaka project and strengthening its position in the gold exploration sector.
