Sign up Australia
Proactive Investors - Run By Investors For Investors

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.


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

Related Articles

August 13 2018
The company is excited by the potential of its Albury Heath project in the Meekatharra area of Western Australia’s Mid West-Murchison region.
gold bars
August 02 2018
Arc Minerals has significant upside at kalaba in Zambia
A vanadium ore stockpile at Nelly
August 31 2018
The country’s favourable regulatory system enables faster turnaround of legacy mining rights.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use