Panthera rises on latest survey at Mali's Kalaka

West Africa and India-focussed gold exploration and development company Panthera Resources announced on Thursday that its associate company Moydow has completed the expanded induced polarisation (IP) survey at the Kalaka Project in Mali.

The AIM-traded firm said the survey enhanced the definition of existing targets, as well as identified several additional targets, in particular in the east of the survey area to the east of a “prominent” interpreted package of graphitic sediments.

It said the completed extension survey totalled 150 line kilometres, with several new high-order chargeability highs indicating possible disseminated sulphides at depth.

The largest anomalies exceeded four kilometres in strike length, with many chargeability highs associated with geochemical anomalies and artisanal mining activity.

A drill rig had been secured to drill test the highest priority anomalies after the wet season, later in the year.

“The IP geophysical technique has been proven to be a highly successful targeting tool on all of our West African gold projects,” said managing director Mark Bolton.

“The enhanced definition of existing drill targets at Kalaka is highly encouraging and the identification of additional targets to the east of an interpreted package of graphitic sediments adds an entirely new mineralisation trend.

“We now have over 20 walk-up drill targets defined by chargeability highs - suggestive of sulphide alteration zones - with support from resistivity highs, geochemistry, other geophysical techniques and/or previous explorer drilling.”

At 1043 BST, shares in Panthera Resources were up 2.81% at 13.88p.