Laverton Gold Project Delivers Bonanza-Grade Intercepts; $685k Raised for Exploration

Strong Exploration Momentum at Laverton Gold Project

Panther Metals Limited (ASX: PNT) has delivered a robust quarterly update for the period ending 31 March 2025, highlighting significant progress at its flagship Laverton Gold Project in Western Australia. The company’s recent reverse circulation (RC) drilling campaigns have yielded impressive high-grade gold intercepts, particularly at the Burtville East prospect, reinforcing the project's potential as a significant gold discovery.

The latest drilling results include multiple bonanza-grade gold intercepts, such as 6 metres at 28.66 grams per tonne (g/t) gold, including a standout 1 metre at 127 g/t from 44 metres depth, and 8 metres at 15.29 g/t with peak 1 metre assays exceeding 50 g/t. These results build on earlier successes from the 2022 maiden drilling campaign, which uncovered similarly high-grade zones, including a remarkable 1 metre intercept at 478 g/t gold.

Focused Drilling and Strategic Exploration Activities

Following an internal review of the late 2024 drilling data, Panther Metals recommenced drilling in March 2025 with a targeted 2,000-metre RC program at Burtville East. This program aims to test potential extensional zones and includes probing historic stopes to facilitate safe near-surface bulk sampling. Complementary metallurgical and mineralogical drilling is underway to support future mining studies, while assaying of existing high-grade gold stockpiles is progressing with an eye towards monetisation.

In addition to Burtville East, the company has completed drilling programs at the Comet Well and Rainier targets, both of which showed promising anomalous gold results in prior campaigns. These efforts reflect Panther Metals’ strategic approach to systematically advance multiple prospects within the Laverton Gold Project corridor.

Capital Raising to Accelerate Exploration

To underpin its exploration ambitions, Panther Metals successfully completed a placement in early March, raising approximately $685,000 before costs. The placement involved issuing over 52 million new shares at a price of $0.013 each, representing a modest premium to the recent volume-weighted average price. Investors also received free attaching options exercisable at $0.025 within two years, subject to shareholder approval at the upcoming annual general meeting.

Funds raised are earmarked primarily for further drilling and exploration activities at Burtville East, underscoring the company’s commitment to advancing this high-potential asset. GBA Capital Pty Ltd acted as lead manager for the placement and will receive a fee and options as part of the arrangement.

Financial and Operational Overview

During the quarter, Panther Metals invested $93,000 in exploration activities, predominantly drilling at Laverton. There were no substantive mining production or development expenditures reported. The company ended the quarter with a healthy cash balance of $1.32 million, providing a solid runway for ongoing exploration.

Panther Metals also expanded its tenement holdings with several new grants across its Western Australian projects, including the Mikado Gold Project and Red Flag Nickel Sulphide Project, broadening its exploration footprint.

Looking Ahead

With assay results from the recent drilling programs now returned and stockpile assays underway, Panther Metals is well positioned to refine its resource models and advance towards bulk sampling and mining studies. The company’s methodical exploration strategy and capital management suggest a disciplined approach to unlocking value from its Laverton Gold Project and other assets.