13th Feb 2023 11:28
(Alliance News) - Panthera Resources PLC on Monday celebrated progress by its joint venture partner, DFR Gold Inc, as the company began a 10,000 metre drilling programme in Burkina Faso.
Panthera is a London-based gold explorer with projects in India and West Africa. It told investors that DFR Gold, an exploration and mine development company focused on gold and other commodities in Africa, had started drilling on the Cascades project in Burkina Faso.
The Cascades project lies in the Banfora Birimian Greenstone Belt, one of the three major mineralised belts in western Burkina Faso. It is owned and managed by Moydow Holdings Ltd; Panthera currently holds an equity interest of 20% in Moydow, while DFR earns an 80% interest and is the operator.
The drilling programme involves two stages. The first is for 5,000 metres of drilling, which Panthera said would target extensions to the current resource as well as several new targets. These include: two newly defined targets immediately north and southwest of the Daramandougou resource pit shell respectively; step-out drilling on the TT13 target; and first-pass drilling on several other newly delineated targets in the Wuo Land 2 licence area.
Panthera said that phase two would be a results-driven follow-on program targeting the highest priority results from the first phase.
Panthera shares were trading 2.4% higher at 4.30 pence each in London on Monday morning.
By Holly Beveridge; Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Related Shares:
Panthera Res.