Another positive note on Burtville this morning, go Panther! One broker put out a quick opinion this morning:Today Panther Metals (ASX.PNT) have announced additional drill results and the outcomes of their revised geological modelling at the Burtville East Gold Project, where they have previously intercepted significant bonanza-grade assays of 15m @ 54g/t from 27m.
The most recent diamond drill results include:
- 0.3m @ 21.4g/t Au from 48m, and
- 14.6m @ 2.3g/t Au from 37m.
Collectively these results indicate continued high-grade mineralisation and thick, shallow intercepts.
The drill results and geological modelling has confirmed the existence of several new gold-rich quartz lodes outside the existingBurtville East Main Lode, which suggests that mineralisation may broaden and have high-grade mineralisation at depth. In addition, integrating historic surface geochemistry to the revised geological interpretation suggests further continuation of mineralisation beyond the existing main lode area, expanding the potential mineralised strike by ~800m. Notably, this geological modelling is confirmed by several bonanza grade assays intercepted historically and during Panther’s 2022 drilling, including:
- 10m @ 7.2g/t Au from 82m, including 1m @ 63g/t from 91m, and
- 1m @ 73g/t Au from 93m.
Given that these findings indicate that Burtville Eastmay be materially larger than previously thought, Panther intend to drill-test the extent of gold mineralisation along strike and at depth to identify additional new gold lodes during their next campaign.
As the mineralisation at Burtville East is typically very high-grade and shallow, and considering the abundance of underfed gold mills within the regional area, we believe that management are well-positioned to monetise a potential Resource at Burtville East relatively quickly.
