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ONTARIO - Panther Metals PLC (LSE:PALM) has formally initiated the Application for Recovery of Minerals Permit process for its Winston Tailings Project in Ontario, Canada, the company announced Monday.
The permit application is part of Panther’s strategy to evaluate and potentially recover gold, gallium, silver, zinc, copper, and cobalt from the historic Winston Lake Mine tailings storage facility. The company has completed a pre-submission meeting with the Ontario Ministry of Energy and Mines and expects to be assigned a dedicated point of contact within 10 days.
The Winston tailings site features significant existing infrastructure that could support future operations, including connected power with 115kv supply, prepared construction ground, all-weather access roads, freshwater facilities, an active water treatment plant, and site offices.
According to the company, the recovery permit application is one of four concurrent workstreams announced on August 8. Panther plans to commence a systematic drilling program across the tailings storage facility in September to support metallurgical testing and the development of a mineral resource estimate.
The Winston Lake Mine operated from 1988 to 1998, producing approximately 3.3 million tonnes of ore containing zinc, copper, silver, and gold. The company believes significant valuable material remains in the tailings facility based on historic recovery rates.
Panther Metals also reported that 1,067,764 warrants expired unexercised during August 2025, which the company noted reduces potential future dilution in its capital structure.
The information was disclosed in a company press release statement.
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