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Panthera Resources Plc, A British firm, reportedly has unveiled that Moydow Holdings Limited (Moydow), its associated company has commenced drilling at its Paimasa Project in Nigeria.
The diversified gold exploration and development company which has its based assets in India and West Africa told that the drilling commenced via Moydow’s joint venture company, Gurara Holdings Limited (Gurara).
The company’s plan was made public in a statement available to the London Stock Exchange.
Panthera noted that the Paimasa Project is sighted in central Nigeria, approximately 115km north-northwest Nigeria’s capital city, Abuja.
It disclosed that the programme proposed 300m worth of diamond and 1250m reverse circulation (RC) drilling.
A similar drilling project carried out by Moydow in nearby tenements at the Dagma prospect was previously geared towards identifying important and significant gold mineralization in quartz veins easier discovered by artisanal miners.
Spotlights of the project comprise widespread artisanal mining activity on a number of sub-parallel quartz veins.
The company states that there has never been drilling in the strategic new frontier in West Africa, adding that there is a more target at the Mint prospect, appropriately 1.5 km away ‘along strike with similar veining’ – the potential for large scale mineralized system.
It noted further that the site has “excellent infrastructure” – only 115km from the capital city Abuja and a Strong local partner in PW Nigeria Mining Limited (PW Mining) with significant in-country infrastructure and logistics.
