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Highlights

  • Panther Metals (LSE:PALM) reports significant new drill core assay results from the Dotted Lake Project
  • Assay results confirm the presence of magnesium-rich serpentinite in ultramafic rock at Dotted Lake
  • Latest results show valuable metals like nickel, platinum, palladium, and chromium in the samples

Panther Metals PLC (LSE:PALM), a company focused on mineral exploration in Canada, has released the third batch of drill core assay results from its Phase 1 Diamond Drilling Programme at the Dotted Lake Project. The Dotted Lake Project is situated on the north limb of the Schreiber-Hemlo Greenstone Belt in Ontario, Canada. The latest data highlights two important drill holes, DL24-003 and DL24-004, which offer key insights into the mineral content of the region.

The geochemical assay results from these drill holes indicate wide intercepts of ultramafic intrusive rock, measuring 94 meters and 129 meters, respectively. This rock formation is characterized by a magnesium (Mg)-rich serpentinite, with assays showing concentrations of up to 20.6% Mg. This alteration of ultrabasic rock into serpentinite provides the project with a potential resource of valuable metals, including platinum (Pt), palladium (Pd), nickel (Ni), chromium (Cr), and silver (Ag).

The results have expanded the known lateral extent of the ultramafic intrusion to more than 2.8 kilometers between the two diamond drill holes. The mineralized body includes metals typically found in ultramafic rocks and presents the possibility for future research on magnesium separation from serpentinite. This research could explore potential commercial applications, as magnesium extraction from serpentinite has been successful in laboratory conditions but not yet on an industrial scale.

The company is also awaiting additional assay results for chromium and other metals from drill holes DL24-002 and DL24-003, which could provide further insight into the extent of the mineralization. Panther Metals continues to advance exploration at Dotted Lake, with further studies and assays planned.