Panther Metals (PALM) has released assay results from the resampling of historical drill core from the northern side of the Awkward target at the Obonga project, which covers over 90% of the Obonga greenstone belt, in Ontario, Canada.
The assay of drill core samples from two holes drilled by Navigator Minerals in 2013 has yielded previously un-assayed platinum group element, nickel, and copper results highly encouraging for the existence of the targeted mineral system.
The results confirm that Awkward bears nickel and PGEs mineralisation that could be in potentially economic concentrations within a feeder conduit and / or a layered magma.
Among the highlights were grades of up to 1.07% nickel, 0.14 grams per tonne platinum), 0.11 grams palladium, 2.18 grams silver and 0.42% copper. ic system.
Ontario Geological Survey specialists who examined the core noted that Awkward shares characteristics with the intrusion that hosts Impala's three million ounce Lac des Iles PGE mine located 85 km to the south.
In addition, nickel grades are consistent with Mount Keith deposit type. The BHP-owned Mount Keith mine in Western Australia is one of the world's largest low grade, economically mined, disseminated nickel sulphide deposit, and has a grade of around 0.57% nickel.
"Our latest results continue to build a strong case for Awkward as a significant nickel sulphide discovery,” said Darren Hazelwood, chief executive of Panther.
“The geological setting is comparable to BHP's Mt Keith deposit in Western Australia, with the added potential of a high-grade core within what we're calling the Awkward conduit. Importantly, all the key signals are aligning - from encouraging pathfinder results in the TEE Zone and our graphite discovery, to supporting data from Navigator Minerals samples and recent government work in Thunder Bay identifying the same rock types found at Impala's Lac des Iles mine. This growing body of evidence points to Awkward being a large-scale and high-impact exploration opportunity. While we have had early discussions with potential partners, the risk/reward profile at this stage clearly favours Panther. We believe we are at the beginning of something significant.”
View from Vox
Good to see Awkward swinging back into view after a period of focus on Panther’s new Winston mine. In many ways Awkward represents a classic Canadian exploration opportunity – clear sings of several styles of mineralisation on offer, with historic work providing tantalising indications that the company could be onto something big. PGE prices have shown signs of life recently, so it’s a good time to be working up a prospect like this and reminding investors that Panther has many strings to its bow.