British firm begins gold mining in Nigeria

By Simdi Gloria:-

Panthera Resources Plc, a British firm has announced that its associated company, Moydow Holdings Limited (Moydow), has commenced drilling at its Paimasa Project in Nigeria.

According to the diversified gold exploration and development company with assets in West Africa and India, the drilling commenced through Moydow’s joint venture company, Gurara Holdings Limited (Gurara).

The announcement was made by the company in a disclosure sent to the London Stock Exchange.

The disclosure explained that the Paimasa Project is located in central Nigeria, approximately 115km north-northwest of the capital city Abuja.

It noted that a programme of 300m diamond and 1250m reverse circulation (RC) drilling is proposed.

In the nearby tenements at the Dagma prospect, previous drilling by the moydow resulted in the identification of significant gold mineralisation within quartz veins discovered by artisanal miners.

The project highlights extensive artisanal mining activity on several sub-parallel quartz veins.

According to the company, there was no previous drilling in the strategic new frontier in West Africa. The company further added that there is an additional target at the Mint prospect, approximately 1.5 km away ‘along strike with similar veining’ – potential for large scale mineralised system.

It added that the site has “excellent infrastructure” – only 115km from the capital city Abuja and Strong local partner in PW Nigeria Mining Limited (PW Mining) with significant in-country infrastructure and logistics.

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