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GNP takes full ownership of Panton

17th June 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Panoramic Resources on Thursday told shareholders that Great Northern Palladium (GNP) had exercised its option over the remaining 20% interest in the Panton platinum group metals project, in Western Australia.

GNP in December of last year struck a A$12-million agreement with Panoramic to acquire an 80% interest in the project.

GNP would now acquire the remaining interest in the project for A$3-million, with Panoramic telling shareholders that proceeds from the sale would be used for general working capital and to support the restart plans at its Savannah nickel project.

Panton, in the East Kimberley region, is estimated to host a resource of 14.32-million tonnes, at 2.19 g/t platinum, 2.39 g/t palladium and 0.31 g/t gold on granted mining leases.

Edited by Creamer Media Reporter

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