Pantera snaps up 80% interest in Abra-style lead-silver Project in Western Australia
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Pantera has acquired an 80% interest in Project Hellcat after entering into a binding Heads of Agreement with Bangemall Metals Pty Ltd.
Pantera (ASX:PFE) says the project represents an “exciting” greenfields opportunity with advanced drill-ready geophysical targets, with gravity signatures similar to Galena Mining’s (ASX:G1A) Abra polymetallic deposit.
With three exploration licences containing drill-ready targets within the Edmund Basin in Western Australia, this adds a further 442 square kilometres to the company’s portfolio where rock samples have returned up to 10% lead, 66 g/t silver, 1% zinc, and 0.3% copper.
Exploration is set to begin as soon as possible with three diamond holes planned for Q1/Q2 2022 and EIS funding secured.
PFE chief executive officer Matthew Hansen said the project builds on the company’s existing landholding in Western Australia and more importantly the Edmund Basin.
“This is an emerging region for globally significant base metal deposits.
“The company sees this acquisition as an opportunity to add to our existing projects and apply new exploration concepts to the tenure, based on the learnings from the development of the Abra-lead-silver deposit.”
As well as three granted tenements, the project also includes one additional exploration licence application – E25/4026.
Project Hellcat comes with three drill ready targets – the Teano Gravity target being the highest priority.
This drill target is a geophysical anomaly with proximal mineralisation at surface and is analogous to the Abra Deposit.
Significantly, the gravity anomaly is modelled as being 185m below surface, shallower than Abra and could represent significant galena, barite, chalcopyrite, iron oxide mineralisation at depth.
Pantera has kicked off the planning for a 600m diamond drillhole program to test the Teano Gravity target, a 400m drilling program to test the Teana EM target, as well as another 600m diamond program at the Navi target.
The following exploration activities will be undertaken at Project Hellcat over the coming six months:
This article was developed in collaboration with Pantera, 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.