More manganese samples bodes well for future drilling

This morning, our WA-focused junior exploration Investment Pantera Minerals (ASX:PFE) announced assay results from a rock chip sampling programme at its Weelarrana Manganese Project.

Of the 31 rock chip samples, 23 returned manganese (“Mn”) grades above 10% Mn. The average grade was 25.1% Mn for the batch, with a highest Mn grade of 39.8% Mn.

Importantly, this sampling identifies manganese mineralisation at one of the recently granted tenement applications, and sets the wheels in motion for another drilling program.

This is a positive first step, however, drilling will be the only way to identify the grade, size and depth of the manganese mineralisation at the project.

Drilling is planned for the second half of 2023.

The prospect is located less than 6km from Firebirds Metals Hill (ASX:FRB) 616 Manganese deposit, which hosts a 57.5 Mt @ 12.2% Mn) resource.

We think the future remains bright for manganese given its usage within EV batteries, Volkswagen, Mercedes, Tesla and GM have all recently announced intentions to use High Purity Manganese in their vehicles.

What’s Next?:

PFE has recently reported on assay results from its maiden campaign at Mn Area 1 in Weelarrana - our coverage can be found here.

Second round RC drilling campaign at Mn Area 1 is planned to better understand the grade and thickness variability through the centre of the ore body, as well as to extend mineralisation to the north and east along strike.

Also drill permitting for Mn Areas 2, 3, and 4 continues to progress with drilling slated for the next quarter.