Panthera Resources (AIM:PAT) Drilling Commences at Bassala

Panthera Resources Plc (AIM: PAT), the diversified gold exploration and development company with assets in West Africa and India, is pleased to announce the Reverse Circulation/Air Core (RC/AC) drilling programme at the Bassala Project in Mali has commenced.

Highlights

· 5000 metre RC/AC drill programme has commenced at the Bassala Project

· The programme comprises 57 AC holes and 21 RC holes

· Drilling will test Bassala North, Central and South prospects

· The drill programme follows highly encouraging results from the two AC programmes in 2021

· Assay results are expected during quarter three of 2022

A PDF version of the announcement, inclusive of images, can be found on the Company’s website or by following the link below:

http://www.rns-pdf.londonstockexchange.com/rns/6940N_1-2022-6-5.pdf

pantheraresources.com/news/regulatory-news/

About Bassala

Bassala project is located within a highly gold-endowed Birimian volcano-sedimentary belt in southwestern Mali, approximately 200km south of the capital city Bamako. The Birmian belt hosts the Kalana (Endeavour Mining, 4Moz) and Kodieran (Wassoul’or, 2Moz) gold mines, both within a few kilometres (<10km) of the Bassala project

Basement rocks across the Bassala property comprise predominantly Birimian metasedimentary and metavolcanic rocks – these greenstone formations are the host for almost all known orogenic gold deposits in southern Mali. The Company completed some 9997 metre AC drilling programme in July 2021 which confirmed significant mineralisation in the licence. A follow-up 8546 metre AC drilling programme in December 2021 confirmed further mineralised zones in the north of the licence. Deeper RC drilling in priority areas is now underway.

Several coherent zones of mineralisation are beginning to emerge, generally trending NNE in the north, N-S in the centre and NW in the south. These zones are between about 600m and 3000m in strike and hence have significant size potential.

Recent exploration activity by the Company includes:

1Q 2021

Gold in soil survey

1Q 2021

Ground Magnetic survey

2Q 2021

IP survey

3Q 2021

10389m drilling programme (13 targets)

4Q 2021

8546m drilling programme completed (8 targets)

2Q 2022

AC/RC drilling programme commenced

Work Programme

The Company has defined three separate prospect areas in the Bassala project, these being named ‘Bassala North’, ‘Bassala Central ‘and ‘Bassala South’.

In the Bassala South prospect at least two subparallel zones trending NNW – SSE has been highlighted with:

· Artisanal workings

· Gold in soil anomalies

· Structures identified from the geophysical survey

· Significant gold anomalism in the 2021 air core drilling programme

These structures or targets will be drill tested with deeper RC drilling and further AC geochemical testing.

In the Bassala North prospect, several RC holes are planned to test the southern strike of areas of artisanal workings while AC drilling is planned to follow up on the 2021 drilling anomalies, geophysical structure, and artisanal digging targets.

Exploration in the Bassala Central prospect is targeting the deeper structures identified in earlier work and highlighted by several artisanal zones of workings that are also located on the north-south structures as interpreted from the gradient array IP survey.

Contacts

Panthera Resources PLC

Mark Bolton (Managing Director)  +61 411 220 942

contact@pantheraresources.com


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