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Panther Metals launches follow-up drilling at Burtville East after high-grade gold hits

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By Colin Hay - 
Panther Metals ASX PNT Drilling Burtville East Gold Project
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Panther Metals (ASX: PNT) has commenced a significant follow-up drill program to test for extensions of its recent high-grade hits at the Burtville East gold project in Western Australia.

The campaign is following up on the company’s 2024 drilling program that returned wide, high-grade gold intercepts with multiple 1m bonanza-grade peaks, such as 127 grams per tonne gold.

The company staged a successful placement earlier this month that raised $685,000 to support the program.

Range of tests

The 2,000-metre drill program will also test a range of activities with a view to monetising the high-grade gold.

“Our analysis of last quarter’s drill campaign […] underscored the project’s potential and the need for additional funding to further explore for any potential gold extensions at Burtville East and capitalise on the current strong gold price,” chief executive officer Daniel Tuffin said.

“The company will also utilise this program to advance the project via probing historic workings for future bulk sampling activities, conducting metallurgical and mineralogical studies to support mining reviews and assessing the existing high-grade stockpiles for potential monetisation.”

“With drilling now underway, we look forward to providing further updates as results come to hand.”

Goldfields location

Burtville East is located on the north-western edge of the company’s Laverton gold project in Western Australia’s famous goldfields region.

The project area contains historic underground workings, along with existing mineralised stockpiles that are ready for treatment.

Historical grab samples from stockpiles returned grades of up to 38.45g/t gold, while grabs taken by the company in 2022 returned a peak grade of 21.7g/t gold.

The company’s 2022 maiden drilling campaign discovered multiple gold-rich quartz lodes adjacent to the main Burtville East lode from just six reverse circulation holes over a total of 577m and two diamond holes over a total of 147m.