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25 Jan 2021 | 16:10

Panthera continues work on West Africa programmes

(Sharecast News) - Diversified gold exploration and development company Panthera Resources updated the market on its West Africa exploration programmes on Monday, as well as the projects owned by its associated company Moydow Holdings.

The AIM-traded firm said work had continued across the West African projects through the holiday period.

It said preliminary results at the Bassala gold project in Mali suggested a large exploration target, with over eight kilometres of strike potential.

First-pass drilling at Paimasa in Nigeria, meanwhile, was completed with initial assay results expected in the first quarter of 2021.

"We enter 2021 in good stead with teams having conducted extensive activity across the West African licences over the Christmas-New Year period," said managing director Mark Bolton.

"Panthera has a firm operational platform with which to commence the new year and to continue to grow from strength to strength in our efforts of 2020.

"At Bassala, the strong correlation between the structural targets identified by the ground magnetic survey with the gold-in-soil anomaly suggests that this may be a large gold exploration target with over eight kilometres strike potential."

Bolton said that at Paimasa in Nigeria, which was held under the joint venture agreement between Moydow and PW Nigeria Mining, the first-pass drilling programme was complete and initial assay results were expected later in the quarter.

"At Labola, Moydow's team is currently preparing detailed plans and processes for the drilling programme expected to commence in this quarter.

"Several further additional targets at various stages of exploration have also been identified."

At 1139 GMT, shares in Panthera Resources were down 5.25% at 22.74p.
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