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ONTARIO, CANADA - Panther Metals Plc (LSE:PALM) has started a tailings sampling program at its Winston Project in Ontario, Canada, the company announced Tuesday in a press release.
The program aims to assess the potential for reprocessing historical mine tailings from the Winston Lake Mine, which operated from 1988 to 1998 and produced approximately 3.3 million tonnes of ore containing zinc, copper, silver, and gold.
According to the company, early analysis suggests that successful reprocessing of the tailings could potentially double the known resource at the Winston Project, based on historical recovery rates from mining operations in the 1980s and 1990s.
The sampling program represents the initial phase of Panther’s strategy to evaluate the economic viability of recovering residual metals from the tailings while simultaneously addressing environmental concerns at the former mine site.
Specific objectives include collecting samples from the tailings storage facility, assessing the financial potential of reprocessing, evaluating opportunities to extend the project’s operational life, and supporting future environmental remediation efforts.
"This tailings sampling programme is the first step in adding significant value to the Winston Project," said Darren Hazelwood, Chief Executive Officer of Panther Metals, in the statement.
The company believes the initiative could leverage existing site infrastructure to accelerate potential development while addressing legacy environmental impacts from previous mining operations.
Panther Metals, which focuses on mineral exploration projects in Canada, acquired the Winston Project last month, according to the company’s previous announcements.
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