Diamond drilling is on at Hellcat, as Pantera gets to work on its ‘stronger’ Abra lookalike lead-silver play
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Pantera has kicked off diamond drilling at its Hellcat lead-silver project in WA’s Gascoyne region, which it has previously described as being a potential company-maker.
Its reasoning is simple. Not only does the project sit within the same stratigraphic sequence and structural setting as Galena Mining’s Abra lead-silver project, the geophysics and geochemistry of the Teano prospect are interpreted to be the stronger of the two.
This is potentially rewarding given that Abra features a resource of 34.5Mt grading 7.2% lead and 16 grams per tonne (g/t) silver which is edging closer towards production given that construction of the mine hit 67% completion at the end of May.
Validating this belief will be the job of Pantera Minerals’ (ASX:PFE) four hole program totalling 1,700m, which will test high-priority gravity targets and modelled electromagnetic conductors.
The company added that cultural clearances and ground disturbing approval has already been secured for four 300m by 300m drilling areas, which are large enough to allow for additional drilling pending results.
“We are excited to have commenced drilling at Hellcat, which is the culmination of a substantial effort from our team, with support from the Traditional Owners, local pastoralists and Galena Mining,” chief executive officer Matt Hansen says.
“This diamond drilling program will test the Project’s high priority gravity targets and modelled electromagnetic conductors, where previous field work nearby has confirmed lead-silver mineralisation within the Teano Vein.”
Hellcat covers 442km2 of ground that is considered to be prospective for base and precious metal mineralisation.
The Teano gravity and EM anomaly identified within the project is analogous to the anomalous geophysical response observed at the Abra Deposit, indicating the presence of dense minerals at depth.
This is backed up by the observed fresh galena within quartz veins and altered carbonate host rocks.
Pantera acquired an 80% interest in the project in December 2021.
This article was developed in collaboration with Pantera Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.