The drilling was undertaken by Panthera’s associate company Moydow Holdings Limited.
Among the highlights were four metres grading 19.7 grams per tonne gold and three metres grading 3.46 grams per tonne.
The results are likely to be incorporated into the maiden resource estimate currently being prepared.
“The high-grade intercepts being returned from exploration targets defined by artisanal workings, geophysical anomalies and previous drilling are very encouraging,” said Mark Bolton, managing director of Panthera.
“The results reaffirm our confidence in the potential to materially expand the mineralisation already identified by the historical drilling. We eagerly await the maiden resource estimates for the previous explorer drilling as part of the NI43-101 report currently being compiled.”
The Labola project is owned and managed by Moydow Holdings Limited. Panthera currently holds an equity interest of 44.1% in Moydow, although a proposed restructure of Moydow and farm-in by Diamond Fields Resources Inc was announced on 25 August 2021.