Obonga Project: Wishbone VMS Update
Panther Metals Plc (LSE: PALM), the exploration company focused on mineral projects in Canada, is pleased to provide an update for the Obonga Project’s Wishbone Prospect which is an emerging and highly prospective base metal volcanogenic massive sulphide (“VMS”) system in Ontario, Canada.
Following the completion of the 2025 high resolution drone based airborne magnetic geophysics survey (“Magnetics Survey”) over the Wishbone Prospect, the geophysical data has subject to three-dimensional inversion modelling (Figures 1 & 2) with a view to refining the parameters of the permitted drill holes ahead of a diamond drilling programme.
A video illustrating the results of the Magnetic Survey inversion modelling and the size and morphology of the Wishbone VMS Target and the relationship with highly anomalous copper in lake sediments is available to view on the Panther Metals PLC YouTube channel at https://youtube.com/shorts/POMgfQuSc44?feature=share1
Figures of the magnetics inversion and structural model are set out below in Figures 1 and 2, whilst the map the processed First Vertical Derivative of the Magnetic Survey data is shown in Figure 3. Figure 4 shows the highly anomalous copper in lake and stream sediments which are located above, and which drain off the site of the Wishbone VMS Prospect. Details of the Magnetic Survey are provided in Table 1.
The work being planned is covered by Exploration Permit PR-24-000022, which is valid through to 20 June 2027 (Figure 5). This permit authorises a comprehensive exploration programme, including up to 39 diamond core drill holes and down-hole electromagnetic geophysics.
Darren Hazelwood, Chief Executive Officer commented:
“As move towards and period of intense work activity at the exciting Wishbone VMS Prospect, we would like to provide an update on our geological and magnetic inversion modelling activities which illustrate the scale of the Wishbone system that we will be drill targeting in the coming quarter.
Panther Chairman Nick O’Reilly and I will be at the PDAC Conference in Toronto next week where we will be meeting with various Wishbone stakeholders, and we look forward to providing further updates as our plans advance.”
|
|
|
Figure 1: Plan view of modelled Wishbone VMS Target showing magnetic inversion model, geological contacts and location of Panther diamond drillholes (based on magnetic inversion model shells). Notes: Scale bar and north arrow in bottom left corner of figure. Coordinates stated in UTM Zone 16N NAD 83 datum. Image highlights the size of the modelled magnetic body at depth. Dark blue dots signify permitted drill pad locations. The figure is overlain by a semi-transparent surface rendering of the topographical map, from which the trace of the Wishbone Lake can be discerned (light blue). The green block model below the topography reflects the greenstone volcanic geology, the beige block model to the north is granitoid. The granitoid/volcanic contacts are interpreted to be faulted. A series of… |
Read More: Obonga Project: Wishbone VMS Update