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Highlights
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Focus on Gold Exploration: Panthera Resources PLC is advancing its gold exploration projects in India and West Africa, particularly emphasizing its Bhukia project in Rajasthan.
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Recent Drilling Success: The company has successfully completed drilling programs in West Africa, with promising assay results indicating potential resource growth.
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Arbitration Efforts: Panthera is pursuing formal arbitration against the Indian government regarding its Bhukia project, bolstered by increased funding for arbitration.
Description
Panthera Resources PLC {LSE:PAT} is actively engaged in gold exploration and development across its projects in India and West Africa. The company's flagship property in Rajasthan, India, is operated through a joint venture (70% Indo Gold) that has identified a preliminary JORC-compliant Inferred Mineral Resource of 38.5 million tonnes at 1.4 grams per tonne gold, equating to approximately 1.74 million ounces.
In its recent annual results statement, Panthera highlighted its commitment to resolving permitting challenges associated with the Bhukia gold exploration project. In parallel, the company has been enhancing its gold exploration initiatives in West Africa, completing several drilling phases in Burkina Faso and Mali. Recent assay results from Mali showcased significant intersections, including 76 meters at 0.53 g/t Au and 34 meters at 0.50 g/t Au, which point to further resource growth potential.
Moreover, the company has ramped up its arbitration funding for the Bhukia project to $13.6 million following due diligence by Litigation Capital Management. Panthera has initiated formal arbitration against the Indian government after unsuccessful settlement negotiations.
Additionally, Panthera recently completed a drilling program at the Bido project in Burkina Faso, involving 2,483 meters of reverse circulation drilling across multiple prospects. Results from these efforts are expected to provide further insights into the resource potential of the region.
In Mali, the company has also concluded a drilling program at the Kalaka project, with core samples submitted for analysis, anticipating results by the end of September. Panthera’s management continues to emphasize the extensive opportunities within its portfolio, focusing on both immediate challenges and long-term growth strategies in the gold sector.
