17th Oct 2024 14:26
(Alliance News) - Panther Metals PLC on Thursday said it has contracted Platinum Diamond Drilling Inc to work on the Dotted Lake project in Canada.
The developer of critical minerals projects in Ontario, Canada said Platinum would undertake a critical mineral-focused phase 1 diamond drilling programme and associated access trail logistics at the project on the north limb of the Schreiber-Hemlo Greenstone Belt in Ontario, Canada.
Shares in Panther Metals were up 18% at 94.55 pence each in London on Thursday afternoon.
The drilling programme is part of a fully-funded series of works focused on the discovery of nickel, cobalt, copper, gold and platinum group element bearing sulphide mineralisation. It comprises six planned holes for about 1,200 metres of diamond core drilling and will test an initial four target areas.
Chief Executive Officer Darren Hazelwood said: "The north shore of Dotted Lake contains every piece of the geological puzzle required to support a significant discovery, and I'm delighted that the Platinum team are starting work on making that discovery.
"In addition to Platinum, we'll have our own team on site and guests who have expressed interest in reviewing our work at Dotted Lake, something Panther are delighted to facilitate. I'll update the market as this programme develops."
By Emily Parsons, Alliance News reporter
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