Panther Metals (PALM ) has commenced a diamond drilling programme at the Awkward conduit target on its Obonga project in Canada.
The drilling programme has been designed to test Panther's geological model by targeting the interpreted base of a potentially tube-like magma conduit system, or chonolith, modelled as the magmatic feeder to the Awkward intrusion, which hosts anomalous levels of nickel, copper, and platinum group metals.
Chonoliths can act as a physical and chemical trap for sulphides which separate out of the magma, and concentrate and pool at the base of the feeder conduit.
Examples of this type of deposit include the Norilsk-Talnakh chonolith deposits in Russia, the world's leading source of palladium and a major producer of nickel and platinum.
The initial phase of drilling will consist of a single near-vertical diamond drill hole to a planned depth of approximately 400 metres.
"This is a discovery programme designed to test the Awkward conduit theory, which has generated by far the greatest level of interest from across the industry of any target within our portfolio,” said Darren Hazelwood, chief executive of Panther.
“While the indicators we have assembled are extremely encouraging, the conduit model remains a geological theory that is currently being tested through drilling, and it is important that we remain cautious. The combination of coincident geophysics, sulphide indicators, nickel, copper and PGE signatures, together with geological similarities to major magmatic systems such as Impala's Lac des Iles mine and Mt Keith, has attracted significant attention from both technical and corporate audiences. Our current drilling programme is specifically designed to intercept the lower portion of the proposed conduit structure, where we believe any sulphide accumulation would most likely occur. Successfully intersecting the base of the conduit would represent a major step forward in understanding the geological model and the broader potential of the Awkward system."
View from Vox
Great to see Panther back in full-scale exploration mode after the string of successes at the more advanced Winston tailings project. At Winston the mineralisation looks good, but it is, after all, constrained by the extent of the tailings themselves. Here, though, at Obongo, the upside is very considerable. A confirmation of the model Panther has worked up would be highly significant development and could point the way towards a very rich system indeed.