Panther Minerals Announces Summer 2024 Exploration Program at Boulder Creek Uranium Property, Alaska
Vancouver, British Columbia – TheNewswire – May 6, 2024- Panther Minerals Inc. (“Panther Minerals” or the “Company”) (CSE: PURR) (OTC: GLIOF) is pleased to announce summer 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 drilling from 1978 to 1981 by Houston Oil & Minerals and 2006-2008 by Triex, Panther Minerals is setting the stage for a comprehensive summer campaign. Preparations include reviewing historical data, coordinating logistics, assembling field personnel, and establishing a base camp for initiating surface geology and re-testing historical drill targets.
Triex’s 2006 drilling efforts were comprised of 14 core holes totaling 1,237 meters, primarily concentrated on the Boulder Creek deposit. Two holes drilled in the core of the deposit was most relevant as they backed up the historical grades and thickness of the mineralization.
Hole DV06-54 — drilled in the northern part of the deposit– contained 0.317% U3O8 over 6 meters between 23 and 29 meters depth, including 0.867% U3O8 over 2 meters. Hole DV06-64 contained 0.317 % U3O8 over 2 meters within 5 meters of 0.164% U3O8 between 11.4 and 16.4 meters.
Panther Minerals also intends to further examine areas northwest of the Boulder Creek area, extending some 25 kilometers along the western margin of the Death Valley basin towards and beyond the Fireweed showing (discovered by Triex in 2007) on the south flank of the eastern Bendeleben mountains.
Panther Minerals approach includes a detailed reassessment of the previous drilling data combined with the application of modernized geochemical and geophysical techniques. The Company’s objective is to enhance the understanding of the mineralogical composition and potentially expand the zones of interest.
Panther Minerals is currently in the process of submitting permit applications for a 15- to 20-person camp at the Admiralty Creek airstrip four kilometers east of the Boulder Creek prospect area, reconstruction of an ATV trail from the camp to the prospect and drilling at Boulder Creek and possibly Fireweed. Major mobilization to Nome on the Seward Peninsula is anticipated for June with field work to commence in early July.
Robert Birmingham, Chief Executive Officer of Panther Minerals stated: “Our focus this summer is to re-test key areas identified by Triex’s earlier fieldwork. By integrating historical data with contemporary exploration techniques, the company plans to advance the Boulder Creek project in an expeditious manner and keep shareholders and stakeholders updated.”
Historical Context of Boulder Creek
Discovered in 1977 on the Seward Peninsula in western Alaska by means of airborne radiometric data, Boulder Creek is the most 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-surface split-tube sampling in 21 holes, Boulder Creek has an historic resource estimate (non-43-101 compliant) of 1M lbs U308 @ an average grade of 0.27% and average thickness of 3 meters and depth of mineralization from surface to 120 meters.