Panther Metals (PALM) has appointed Platinum Diamond Drilling Inc to undertake the upcoming drilling programme at the Winston tailings project in Ontario, Canada.
The appointment of Platinum follows on from the appointment of SRK Exploration as independent consultants to conduct the mineral resource estimate for Winston.
The resource estimate will be one of a series of workstreams that will quantify and evaluate the high-grade gold, gallium, silver, zinc, copper and cobalt and other recoverable minerals contained within the historic Winston Lake mine tailings storage facility.
"The appointment of a drilling contractor for the Winston tailings project marks a pivotal step forward for the company,” said Panther’s chief executive Darren Hazelwood.
“This programme is designed to validate the historic recovery production and produce a CIM- compliant mineral resource estimate, a key milestone in taking the project through the recovery permitting process. The historical Winston Lake mine processing data indicates that the tailings have the potential to host commodities in quantities significant enough to fundamentally transform our business. Quantifying the grade and tonnage of recoverable minerals in the tailings storage facility will provide a clear pathway to near-term production and meaningful cash flow, supporting our strategy to rapidly advance Winston from an historic asset into a modern, cash-generating operation.”
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The resource estimate work programme is an integral part of the process to advance the Winston project through permitting towards demonstrating the potential for cashflow. This work will take place over the winter, and move the company on towards an estimate of reserves. That’ll be good going from Panther, which only put the Winston proposition together this summer, before the current revival in the resources sector really got underway. Winston looks big, and we’ll soon see the evidence.