Panthera Resources PLC (LSE:PAT) (LSE:PAT) said the expanded induced polarisation (IP) survey at the Kalaka Project in southern Mali has enhanced the definition of existing targets as well as identified several additional ones.
The gold exploration and development company said its associate company, Moydow Holdings Limited, has completed the IP survey over 150 line kilometres and a drill rig has been secured to drill test the highest priority anomalies after the wet season later in the year.
Moydow, in which Panthera holds a 45.8% equity interest, is earning an 80% interest in the Kalaka Project.
Several new high-order chargeability highs were found in the survey, indicating possible disseminated sulphides at depth, Panthera said, with many chargeability highs associated with geochemical anomalies and artisanal mining activity.
The largest anomalies exceed 4km in strike length, it added.
Mark Bolton, managing director of Panthera, said: “The IP geophysical technique has been proven to be a highly successful targeting tool on all of our West African gold projects.
“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.”