WIDESPREAD MANGANESE AND NEWLY DISCOVERED CHANNEL IRON MINERALISATION AT WEELARRANA
West Perth, WA, June 27, 2023 — Pantera Minerals Limited (ASX:PFE) ("Pantera" or the "Company") is thrilled to announce that recent drilling and rock chip sampling activities have confirmed widespread manganese and channel iron mineralisation at the Weelarrana Project in Western Australia.
The manganese assay results from Mn Area 1 indicate continuity of manganese mineralisation with the maximum one metre Mn grade reaching 22.6%, mirroring the thickness and grades observed during the first phase of drilling completed in November 2022. Impressive intercepts included 1m @ 18.8% Mn from 13m in drill hole WRC099, and 1m @ 22.6% Mn from surface in drill hole WRC112. Mn Areas 2, 3, and 4 also demonstrated promising results, with near-surface manganese mineralisation intercepted and the maximum one metre Mn grade of 22.1% Mn achieved.
In addition to the manganese findings, assay results from recently identified Channel Iron mineralisation have also been received. The best drill intercepts included 2m @ 53.7% Fe from surface in drill hole WRC064 and 2m @ 53.3% Fe from surface in drill hole WRC072 at the Central CID occurrence. Rock chip results further substantiated the presence of Channel Iron mineralisation at Central, Western, and Northern CID locations.
Pantera's CEO, Matt Hansen, expressed his enthusiasm over the findings: "We are pleased to announce that drilling and rock chip sampling at Weelarrana has confirmed widespread manganese mineralisation with channel iron mineralisation also identified. Importantly, assay results received confirm continuity of manganese mineralisation at Mn Area 1, with a maximum one metre Mn grade of 22.6% Mn. Our next program of works involves further mapping and rock chip sampling of the channel iron mineralisation as well as planning additional heritage survey work.”
The successful findings resulted from the completion of all 90 Reverse Circulation ("RC") drill holes and 20 rock chip samples at the Weelarrana Project. Conducted in April and May 2023, the program confirms widespread manganese and channel iron mineralisation.
Further steps in the exploration plan include heritage surveys and drilling programs over several manganese targets identified from rock chip sampling, with drilling anticipated to occur in the second half of 2023. In addition, a field mapping campaign will be launched to better define the extents of the Channel Iron mineralisation found at Central, Western, and Northern CID's. Heritage surveys and drilling programs will also be planned over these areas and the Central DID occurrences.
The Weelarrana Project is located within the Proterozoic Collier Basin, approximately 80 km south of Newman, Western Australia, and covers 958 km2 of tenure considered prospective for manganese and precious metal mineralisation.
For more information about Pantera Minerals Limited and the Weelarrana Project, visit www.panteraminerals.com.au or contact the Pantera Minerals team at info@panteraminerals.com.au.
About Pantera Minerals Limited
Pantera Minerals Limited (ASX:PFE) is an Australian-based minerals exploration company focused on the exploration and development of a portfolio of iron ore and manganese projects in Western Australia.
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