Panthera Resources’ subsidiary Moydow secures key gold exploration license in Burkina Faso

Panthera Resources Plc (AIM: PAT), a prominent gold exploration and development company with projects across West Africa and India, has made a significant stride in Burkina Faso’s gold exploration sector through its subsidiary, Moydow Holdings Limited (“Moydow”). Moydow has exercised its exclusive option to acquire the Wuo Land 2 exploration license, a crucial part of the Cascades Project in Burkina Faso, highlighting a pivotal advancement in the region’s mineral exploration efforts.

The acquisition of the Wuo Land 2 license, covering an extensive area of 243km² with approximately 30km of identified mineralization, marks the completion of the 940 MWp (870 MWac) Amynteo portfolio’s exploration phase. This region is known for its significant recent discoveries, including Far East, Sina Yar, and TT13-West, alongside additional targets poised for future drilling endeavors.

The Cascades project, under the stewardship of Moydow and in partnership with DFR Gold Inc (“DFR”), showcases a collaborative effort to tap into Burkina Faso’s rich mineral resources. DFR, holding an 80% interest as the operator, has committed up to US$18 million in the project, with Panthera retaining a 20% equity interest. This partnership underscores the strategic importance of the Cascades project in the broader context of West Africa’s mining sector and its potential impact on the global gold market.

Located in the Banfora greenstone belt, the Cascades project stands as a testament to the region’s geological richness and mining potential. With over 65,500m of historical drilling, the project has delineated significant mineralization across three main zones, offering a promising outlook for gold production. The project’s development is further bolstered by a comprehensive exploration strategy, incorporating advanced data analysis and targeted drilling programs.

As Panthera Resources and Moydow Holdings continue to develop the Cascades project, their commitment to sustainable and responsible mining practices remains paramount. The exploration of Wuo Land 2 not only contributes to Burkina Faso’s economic development but also exemplifies the potential for environmentally conscious mining operations in the region.