GLIOF - Panther Minerals Announces Summer 2024 Exploration Program at Boulder Creek Uranium Property Alaska
(TheNewswire)
Vancouver, British Columbia -TheNewswire – May 6, 2024 - Panther Minerals Inc. (“PantherMinerals” or the “Company”) (CSE:PURR) (OTC:GLIOF) is pleased to announce plans for itssummer 2024 exploration program at the Boulder Creek uranium property,located in the southeastern Seward Peninsula, 160 km east of Nome,Alaska (“ Boulder Creek ” or the“ Property ”).
2024 Exploration Program
Building on foundational fieldwork and initial drillingfrom 1978 to 1981 by Houston Oil & Minerals and 2006-2008 byTriex, Panther Minerals is setting the stage for a comprehensivesummer campaign. Preparations include reviewing historical data,coordinating logistics, assembling field personnel, and establishing abase camp for initiating surface geology and re-testing historicaldrill targets.
Triex’s 2006 drilling efforts were comprised of 14core holes totaling 1,237 meters, primarily concentrated on theBoulder Creek deposit. Two holes drilled in the core of the depositwas most relevant as they backed up the historical grades andthickness of the mineralization 2 .
Hole DV06-54 — drilled in the northern part of thedeposit– contained 0.317% U3O8 over 6 meters between 23 and 29meters depth, including 0.867% U3O8 over 2 meters. Hole DV06-64contained 0.317 % U3O8 over 2 meters within 5 meters of 0.164% U3O8between 11.4 and 16.4 meters.
Panther Minerals also intends to further examine areasnorthwest of the Boulder Creek area, extending some 25 kilometersalong the western margin of the Death Valley basin towards and beyondthe Fireweed showing (discovered by Triex in 2007) on the south flankof the eastern Bendeleben mountains.
Panther Minerals approach includes a detailedreassessment of the previous drilling data combined with theapplication of modernized geochemical and geophysical techniques. TheCompany’s objective is to enhance the understanding of themineralogical composition and potentially expand the zones ofinterest.
Panther Minerals is currently in the process ofsubmitting permit applications for a 15- to 20-person camp at theAdmiralty Creek airstrip four kilometers east of the Boulder Creekprospect area, reconstruction of an ATV trail from the camp to theprospect and drilling at Boulder Creek and possibly Fireweed. Majormobilization to Nome on the Seward Peninsula is anticipated for Junewith field work to commence in early July.
Robert Birmingham, Chief Executive Officer of PantherMinerals stated: “ Our focusthis summer is to re-test key areas identified by Triex’s earlierfieldwork. By integrating historical data with contemporaryexploration techniques, the company plans to advance the Boulder Creekproject in an expeditious manner and keep shareholders andstakeholders updated. ”
Historical Context of BoulderCreek
Discovered in 1977 on the Seward Peninsula in westernAlaska by means of airborne radiometric data, Boulder Creek is themost northerly known sandstone-type uranium property in the world¹. First explored by Houston Oil & Minerals between 1978 and 1981– completing 52 core holes (3,463 m) and about 60 m of near-surfacesplit-tube sampling in 21 holes, Boulder Creek has an historicresource estimate (non-43-101 compliant) of 1M lbs U308 @ an averagegrade of 0.27% and average thickness of 3 meters and depth ofmineralization from surface to 120 meters¹ .
The foregoing is a historicalestimate made prior to the implementation of National Instrument43-101 - Standards of Disclosure for Mineral Projects(" NI43-101 ") and was notprepared in accordance withthe requirements of NI 43-101, nor does it use the categories ofmineral resources set forth in NI 43-101; however, with the limitedinformation available to the Company at this time, it is not able toprovide an explanation of the differences. While the Company considersthe historic estimate to provide information as to the historicalexploration on the Property, a qualified person has not done sufficient work to classifythe historical estimate as current mineral resources or mineralreserves and the Company is not treating the historical estimate ascurrent mineral resources or mineral reserves The historical estimate should not berelied upon.
The project was most recently explored by Triex Mineral Corp. (“ Triex ”) between 2006and 2008. Triex conducted soil and bio-geochemical surveys on theprospect, along with surface prospecting and airborne radiometricsurveys and completed 22 core holes (2,217m) 2 .
Some of the exploration information presented hereinincludes historical data developed by previous operators of theProperty. The Company is providing this historical data forinformational purposes only and gives no assurance as to itsreliability and relevance to the Company’s proposed explorationprogram at the Property. A qualified person has not verified thehistorical data. The Company has not completed any quality assuranceprogram or applied quality control measures to the historical data.Accordingly, the historical data should not be relied upon.
Sources
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Dickensen, Kendall A., et al, 1987,Geology and Origin of the Death Valley Uranium Deposit, SewardPeninsula, Alaska: Economic Geology, Volume 82, pp.1558-1574.
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D.J. Szumigala, D.J., and Hughes,R.A., 2007, Alaska's Mineral Industry 2006: A Summary:” AlaskaDivision of Geological Geophysical Surveys Information Circular 54,20 pp.
About Panther Minerals Inc.
Panther Minerals Inc. is a mineral exploration companyactively involved in the exploration of its North American projectportfolio. The acquisition of the Boulder Creek Option reflects theCompany's ongoing intention of pursuing advanced, highly qualityprospective uranium projects that can be readily worked on andefficiently explored in a timely manner.
Qualified Person
The scientific and technical information in this newsrelease has been reviewed and approved for disclosure by Mr. LindsayBottomer, P.Geo. Mr. Bottomer is a “Qualified Person” within themeaning of National Instrument 43-101 - Standards of Disclosure for MineralProjects and is a consultant for theCompany.
For more information please visit: www.pantherminerals.ca
ON BEHALF OF THE BOARD OFDIRECTORS
Mr. Robert Birmingham: Chief ExecutiveOfficer
Head Office: 1090 West Georgia Street, Suite 600,Vancouver, BC V6E 3V7
Telephone: +1 (604)416-0569
Website: www.pantherminerals.ca
Email: info@pantherminerals.ca
The CSE and Information ServiceProvider have not reviewed and does not accept responsibility for theaccuracy or adequacy of this release.
Forward-Looking Statements
This news release contains “forward-lookinginformation” within the meaning of applicable Canadian securitieslegislation. Often, but not always, forward-looking information andinformation can be identified by the use of words such as “plans”,“expects” or “does not expect”, “is expected”,“estimates”, “intends”, “anticipates” or “does notanticipate”, or “believes”, or variations of such words andphrases or state that certain actions, events or results “may”,“could”, “would”, “might” or “will” be taken, occur orbe achieved. Actual future results may differ materially. Inparticular, this release contains forward-looking information relatingto the Property, the timing of exploration programs in the summer of2024, the expectation that the Company will exercise the Boulder CreekOption and the Company’s financial performance and results. Theforward-looking information reflects management's current expectationsbased on information currently available and are subject to a numberof risks and uncertainties that may cause outcomes to differmaterially from those discussed in the forward-looking information.Such risk factors may include, among others, but are not limited to:general economic conditions in Canada and globally; the inability ofthe Company to exercise the Boulder Creek Option; the possibilitythat a counterparty may breach a contractual arrangement; industryconditions, including governmental regulation and environmentalregulation; the availability of capital on acceptable terms; the needto obtain required approvals from regulatory authorities; stock marketvolatility; competition for, among other things, skilled personnel andsupplies; incorrect assessments of the value of acquisitions;geological, technical, processing and transportation problems; changesin tax laws and incentive programs; failure to realize the anticipatedbenefits of acquisitions and dispositions; and the other factors.Although the Company believes that the assumptions and factors used inpreparing the forward-looking information are reasonable, unduereliance should not be placed on such information and no assurance canbe given that such events will occur in the disclosed time frames orat all. Factors that could cause actual results or events to differmaterially from current expectations include: (i) adverse marketconditions; and (ii) other factors beyond the control of the Company.New risk factors emerge from time to time, and it is impossible forthe Company’s management to predict all risk factors, nor can theCompany assess the impact of all factors on Company’s business orthe extent to which any factor, or combination of factors, may causeactual results to differ from those contained in any forward-lookinginformation. The forward-looking information included in this newsrelease are made as of the date of this news release and the Companyexpressly disclaims any intention or obligation to update or reviseany forward-looking information whether as a result of newinformation, future events or otherwise, except as required byapplicable law. Additional information identifying risks anduncertainties that could affect financial results is contained in theCompany’s filings with Canadian securities regulators, which areavailable at www.sedarplus.ca .
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