Pantera’s regional survey highlights broad potential at Hellcat
Regional rock chip sampling has indicated that Pantera’s Hellcat project could host mineralisation over a broad area after returning lead, zinc and silver anomalism.
The 77 samples returned anomalous results topping up at 19,117 parts per million (ppm) – or 1.9% – lead, 97ppm (grams per tonne) silver and 5,248ppm zinc.
Results from tenement E52/3944, which included the top lead result and up to 0.3% zinc, were intriguing as they were returned from an area of structural complexity, where a regional anticline has been offset by a northeast trending transfer fault.
Pantera Minerals (ASX:PFE) also noted that historical silver and zinc anomalism at E52/4026 has been confirmed with nearby rock samples returning up to 95g/t silver and 0.5% zinc.
Meanwhile, the company’s four hole diamond program over the Teano and Yarvi prospects – the first ever drilling here – returned low levels of lead anomalism in three of the four holes.
While no significant base metal mineralised zones were intersected, there is evidence to suggest hydrothermal activity carrying metalliferous fluids occurred at all target areas.
“The Pantera team is encouraged by the results of the recent regional rock sampling program, which indicates the further potential of the wider Hellcat Project,” chief executive officer Matt Hansen said.
“Although initial drilling did not intercept economic mineralisation, it is clear there is further work to be done to understand the connection between the substantial hydrothermal alteration and visible mineralisation.”
Hellcat sits within the same stratigraphic sequence and structural setting as Galena Mining’s Abra lead-silver project though the interpreted geophysics and geochemistry of the Teano prospect are interpreted to be the stronger of the two.
Separately, the company has secured Western Australia Exploration Incentive Scheme funding, which will co-fund half the cost of reverse circulation drilling at the Frederick project to a total of $100,000.
This drilling will test structural and geophysical target areas associated with priority geochemical anomalism and will be the first deep drilling in the project area.
Pantera had identified the targets using a recently completed ground gravity survey along with GSWA Tempest electromagnetic data.
It is also carrying out a basin-wide review which will incorporate all available data from both the Hellcat and Frederick projects to guide future exploration.
This article was developed in collaboration with Pantera Minerals (ASX:PFE), 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.