Panthera upbeat on high-grade results from gold sampling

Africa and India-focussed gold exploration and development company Panthera Resources reported “exceptionally” high-grade gold in soil anomalies from the recently-completed sampling programme at its Bido project in Burkina Faso, west Africa on Tuesday.

The AIM-traded firm said it was earning up to 100%, less any government interest, in the project.

It said 1,166 soil samples were collected on lines 200 metres apart with samples every 50 metres along lines, together with assays.

A number of high-grade gold-in-soil assays had been received, including some individual point samples, including 26.5 grams of gold per tonne, as well as 16.7 grams per tonne and 4.15 grams per tonne.

The company also highlighted samples of 3.72 grams of gold per tonne, 3.06 grams per tonne and 2.1 grams per tonne.

It said it had identified a north west trending zone about 2,500 metres long that was contourable at 32 parts of gold per billion, with a 1,600 metre core area that was contourable at 64 parts of gold per billion.

A new gold rush by artisanal miners had been identified north of the recent sampling area at the Beredo prospect.

“The survey results are excellent and confirm that this area has the potential for high-grade mineralisation,” said managing director Mark Bolton.

“The next stage of work will involve infilling gold in soil sampling of some of the better anomalies, detailed geological mapping and rock chip sampling, and possibly some trenching and geophysics.

“Subject to these results, we anticipate a drilling programme mid-2021.”

At 1035 GMT, shares in Panthera Resources were up 3.76% at 24.69p.