Pantera’s recently completed Phase 1 drill program has confirmed that its Hellcat lead-silver project in WA’s Gascoyne region is located within a mineralised system.
Hydrothermal alteration was observed In all four diamond holes, which also intersected metalliferous veins containing pyrrhotite, pyrite, galena and chalcopyrite.
While assays are only expected to be returned some eight weeks from now, the results to date are certainly encouraging, given Pantera Minerals’ (ASX:PFE) conviction that Hellcat could be a company-maker.
This stems from the Teano prospect within the project featuring stronger geophysics and geochemistry than Galena Mining’s Abra lead-silver project, which has a resource of 34.5Mt grading 7.2% lead and 16 grams per tonne (g/t) silver and is nearing production.
“The recently completed drilling has been a positive first step in subsurface exploration within the Hellcat Project area, and we eagerly await the assay results,” chief executive officer Matt Hansen said.
“We look forward to progressing the project through further systematic exploration and building on the geological model developed by our inhouse geology team.”
He added that the recent tenement applications surrounding Hellcat reinforced the company’s view that the project holds significant potential.
“With 442km2 of tenure, Pantera Minerals has a significant landholding in what has become a tightly held corner of the Edmund Basin.”
Drill results and next steps
Multiple sulphides were observed in all four holes in steeply dipping veins and fracture sets.
Additionally, hydrothermal alteration, including silica, chlorite and magnetite, have provided further confidence of intense fluid flow throughout the prospects.
While no significant base metal mineralised zones were intersected, there is evidence to suggest hydrothermal activity carrying metalliferous fluids occurred at all target areas.
Down-hole electromagnetic surveying is underway at all four holes to test for on and off hole conductors.
This information will be combined with assays, geology and structural interpretations to assist with ongoing drill targeting.
A large-scale field reconnaissance program of mapping and geochemical sampling is currently being planned over the entire project area using recently acquired magnetic and radiometric data.
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.
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