08:40 AM EDT, 08/15/2024 (MT Newswires) -- Panther Minerals ( GLIOF ) , which saw its shares drop 13% yesterday, earlier on Thursday, completed the initial site visit on its Huber Heights Uranium property in northern Elko County, Nevada.

The property comprises 35 unpatented mineral claims (700 acres, 283 ha), located near the village of Mountain City, and covers known uranium prospects and showings that were discovered in the 1950s, including the Autunite and October Group prospects, and the Huber Hills Granite Ridge Prospect.

"With completion of the initial site visit on our Huber Heights Property in Nevada, we are extremely pleased with the progress to date that will aid in setting up our first phase of exploration," said Chief Executive Officer Rob Birmingham. "We anticipate this work to lead to defining important targets throughout the property, which will include a drill program."

Uranium was discovered in the area in 1954, with limited production between 1958 and 1963.