Panthera announces delay to Paimasa drilling results

West Africa and India-focussed gold exploration and development company Panthera Resources said on Tuesday that the assay results for the recent drilling at Paimasa in Nigeria would be delayed, while certain samples were subject to re-assay by accelerated cyanide leach, or ‘Leachwell’.

The AIM-traded firm said the decision to re-assay many of the samples reflected anomalies between the fire assays and certain check assays.

“The Leachwell sample size is considerably larger and should provide a more reliable assay where there is a coarse gold fraction,” the Panthera board said in its statement.

Panthera first announced details of the drilling campaign at Paimasa on 1 December.

Its interest in the project is held through its associated company, Moydow Holdings.

At 1554 BST, shares in Panthera Resources were up 0.05% at 13.76p.