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(Sharecast News) - Panthera Resources confirmed on Monday that a feasibility study has started at the Cascades Gold Project in Burkina Faso, with work to be fully funded by joint venture partner DFR Gold.
The AIM-traded firm said the study would include reserve definition drilling to delineate potential starter pits, metallurgical testing for optimal processing design, site selection for plant and waste infrastructure, and the completion of an environmental and social impact assessment.
Subject to positive results, DFR was planning to apply for a mining permit covering the Wuo Land and Wuo Land 2 licences.
The feasibility study was expected to conclude in late 2026.
Separately, DFR had completed its $1m payment for the Wuo Land licence, exercising an option initially announced in February 2024.
The final $0.5m instalment has now been paid, and the transfer of the permit to DFR subsidiary Moydow Holdings was pending completion of administrative requirements.
Panthera said the Cascades Project, formerly known as Labola, is operated by Moydow, in which it holds a 20% equity interest.
DFR was earning up to 80% ownership through an $18m investment commitment by 30 September 2026.
Panthera retained the right to increase its interest to 30% for a cost of $7.2m.
Located in the Banfora greenstone belt of southwest Burkina Faso, Cascades had seen over 65,500 metres of historical drilling and has a maiden mineral resource estimate of 264,000 ounces of gold at 1.52 grams per tonne in the indicated category and 371,000 ounces at 1.67 grams per tonne in the inferred category, based on Canadian NI 43-101 standards.
At 1028 BST, shares in Panthera Resources were down 1.89% at 13p.
Reporting by Josh White for Sharecast.com.
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