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Pantoro drills out an underground future at open-pit gold mine

Shares in Pantoro are trading up 7.8% intra-day to $0.205.
mining at the open-pits
Drilling is expected to continue until January 2018

Pantoro (ASX:PNR) has drilled out extensive high-grade gold mineralisation beneath its Wagtail and Rowdies open pits located near Halls Creek in Western Australia.

Intersections include 4.15 metres at 17.99 g/t gold and 3.05 metres at 19.58 g/t gold.

The combined results confirm that Wagtail will be the next underground development for Pantoro alongside its nearby Nicolsons underground gold mine.

Pantoro aims to complete the current drill out of the entire strike length of the system to 200 metres below surface by January 2018.

Mineral Resource and Ore Reserve estimates are expected to be completed by the end of the March 2018 quarter, with the aim of commencing underground development shortly thereafter.

Paul Cmrlec, managing director, commented

“These results provide the confidence that Pantoro requires to commence underground operations as soon as possible.

“With open-pit mining scheduled to be completed by the end of December 2017, it is our intention to commence underground development following the upcoming wet season.

“The addition of Wagtail as a second high-grade underground feed source will underpin Pantoro’s strategy to further increase production from Nicolsons to between 80,000 and 100,000 ounces per annum, and we remain committed to the ongoing drilling programs on site which are focused on delivering continued Ore Reserve growth.”

Drill results

A selection of the latest drill results include:

- 4.15 metres at 17.99 g/t gold from 108 metres;
- 3.05 metres at 19.58 g/t gold from 115.95 metres;
- 1.85 metres at 19.07 g/t gold from 158.4 metres;
- 3.8 metres at 12.21 g/t gold from 176.15 metres;
- 1.95 metres at 23.61 g/t gold from 186.1 metres;
- 2 metres at 9.24 g/t gold from 48 metres;
- 1.95 metres at 15.59 g/t gold from 172.6 metres;
- 4 metres at 10.53 g/t gold from 33 metres;
- 3 metres at 11.00 g/t gold from 30 metres;
- 2 metres at 23.77 g/t gold from 55 metres;
- 1.05 metres at 28.58 g/t gold from 64.7 metres; and
- 2 metres at 13.75 g/t gold from 73 metres.

Background

Pantoro recently recorded its ninth consecutive quarter of increased gold production from the Nicolsons Mine within its 100% owned Halls Creek Gold Project, Western Australia.

Production at Nicolsons has increased in every quarter since the first gold pour in September 2015.

READ NOW: Pantoro records ninth consecutive quarter of record gold production

View full PNR profile View Profile

Pantoro Ltd Timeline

Article
January 11 2018

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