If you only have one tape machine it'll be difficult to do the full-on Frippertronics thing. That technique was based on a pair of tape decks: The supply reel was on the left-hand deck, which was in record mode; the takeup reel was on the right hand deck, which was in playback mode...but which was also being fed back into deck #1.
If this Panasonic deck you just got has separate record and playback heads you can do some rudimentary looping, especially if you combine it with a simple mixer. Depending on the length of your tape loop you'll either need a vertical pole, like a straight mic stand, to wrap the tape around and provide tension; or, if it's a short enough loop, stand the deck up vertically at the edge of a table and just suspend a plastic takeup reel at the bottom apex of the loop. You'll need the mixer to combine your instrument's signal with the output of the deck so both are going into the record input, and you'll need to adjust the levels judiciously to make sure you don't just get caturwalling feedback. (Or, so that you know precisely how to get caturwalling feedback when desired.) And you'll want to cover up the erase head with electrical tape, or (preferably) thin masking tape so that your loops provide semi-infinite iterations.
