Pantera completes drilling at Yampi, saddles up for Phase 2

Iron ore explorer Pantera Minerals has successfully completed three diamond drill holes at its Yampi project in WA and is already making plans for the 2022 field season.

The drilling intersected hematite sandstone mineralisation in two of the holes with broad widths up to 14m – which is interpreted to be the basal unit of the Elgee Siltstone and the quartz sandstone to be the top unit of the Warton Sandstone.

Due to the onset of the wet season, the drilling is finished with the company planning Phase 2 in 2022, which will include upgrades to the Harmec heli-portable rig to better suit the drilling conditions.

Pantera Minerals (ASX:PFE) expects to receive assay results in mid-February.

Near the best hematite real estate in Australia

The company’s extensive tenement package is prospective for copper-nickel mineralisation and iron ore-copper-gold mineralisation.

“The Yampi Iron Project drilling is the first to occur in an area that has never been drilled despite its proximity to what is arguably the best hematite real estate in Australia,” Pantera CEO Matthew Hansen said.

“The results of the drill program have given great insight to the potential for hematite and base metal mineralisation within the project area.

“This information will be used to develop further mapping and sampling programs for hematite and base metal mineralisation through the extensive tenement package that PFE holds within the region.”

Drilling to begin once tenement granted

Notably, Pantera’s pending tenement E 04/2702 is around 5km north of Dreadnought Resources (ASX:DRE) tenement E 04/2315, which contains its Orion cobalt-gold-silver-copper, Fuso copper-gold-cobalt and Grants Find copper-gold-cobalt prospects.

“The immediate work to follow will be progressing all the PFE tenements in the area to grant and to start planning for the 2022 field season,” Hansen said.

The company plans to undertake extensive airborne electro-magnetic geophysical surveys, soil and rock chip sampling programs to define new copper-nickel targets – with programs expected to commence as further Yampi applications are granted.

Manganese and lead-silver-zinc tenements granted ‘Weelarrana’

At the company’s Weelarrana manganese project, tenement E 52/3878 has now been granted – which is considered highly prospective for manganese and iron ore mineralisation.

Pantera Minerals — PFE has doubled its land position in the region, lodging two exploration licence applications across 401 km2 of land prospective for manganese, iron ore and lead-silver-zinc mineralisation.

A thorough review of all historical exploration activity undertaken on and around the tenement area has identified a potential Channel Iron Deposit (CID) outcropping sporadically over approximately 2km.

PFE has also been granted tenement E 09/2469 at its Fredericks polymetallic project, which it considers prospective for lead-silver-zinc mineralisation similar in style to Galena Mining’s (ASX:G1A) Abra deposit.

The company plans to start exploration as soon as possible at both projects.

This article was developed in collaboration with Pantera Minerals Limited, 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.