ASX-listed Panther Metals is positioning itself for the first steps towards mining at the Coglia project, announcing on Wednesday that it would advance the project to a scoping study.
The study should provide Panther with a better understanding of the economic value of the project, putting a dollar value on “one of the largest nickel/cobalt laterite resources” in Western Australia.
“Whilst future near-resource drilling will continue, a substantial nickel/cobalt resource has already been identified – the company has determined that it’s time for a strategic shift towards focusing on project development in anticipation of future mining activities,” said MD Daniel Tuffin.
Panther has already applied to convert the entire Coglia exploration licence into a mining lease.
“This rapid progression of the Coglia project from discovery through to development has occurred within just two years of listing the company,” commented Tuffin.
On Tuesday, Panther also announced it had received all assays from its recent 5 320 m infill and extensional reverse circulation drilling programme of 56 holes on the periphery of the current 70.6-million-tonne mineral resource.
The key intercept of 144 m at 0.15% nickel and 90 parts per million cobalt from 20 m at the East drill target area of in-situ nickel-sulphide-style mineralisation within ultramafic further investigation, while drilling completed in the Southern JET and Central drill target areas showed encouraging results, with the potential for the South Coglia resource to expand into those areas.