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Pantoro Ltd

Pantoro drill results extend high-grade gold to new depths at Nicolsons

Drill results featured 3.55 metres at 95.89 g/t gold including 1-metre at 317 g/t gold.

Drill core showing intersection 3.55 metres grading 95.89 g/t gold
Gold was intersected well below the deepest developed level in the mine

Pantoro Ltd (ASX:PNR) has received results from extension drilling finding very high-grade gold outside the resource boundary at its Nicolsons underground gold mine in Western Australia.

The results of up to 317 g/t gold are among the highest drilled at the project and in Australia over recent years.

Notably, the results compare favourably with the grades being reported from Kirkland Lake Gold’s (ASX:KLA) Fosterville mine, Victoria's largest producing gold operation.

As Nicolsons is an operating mine with development plans to access these new zones, high-grade gold production is set to continue.

Highlights from drilling included 3.55 metres at 95.89 g/t gold including 1-metre at 317 g/t gold, 2.43 metres at 53.64 g/t gold, and 4.6 metres at 49.52 g/t gold.

READ: Pantoro upgrades Wagtail mineral resource and ore reserve as mine development continues

Pantoro’s managing director Paul Cmrlec said: “These outstanding results clearly demonstrate that the extremely high grades that we have enjoyed in the upper levels at Nicolsons continue down plunge.

“As has always been the case at Nicolsons, the Mineral Resource is limited only by the drilling which has been able to be undertaken to date.

“Our geological knowledge of the ore system is continually improving, and these very high grade results show that mining at Nicolsons is likely to continue well beyond the current Ore Reserve to substantial depths.”

Resource and Reserve updates later in 2019

Drilling at Nicolsons continues to be primarily focused on gold inventory growth and supporting mine life extensions.

Pantoro intends to update its Mineral Resource and Ore Reserve statements later in 2019.

Similarities to the Mother Lode – a good sign

Several of the holes completed display very high grade sulphide mineralisation with lead, zinc and silver.

Notably, this is similar in nature to the very high grade Mother Lode which substantially boosted production at Nicolsons in the upper levels of the mine.

Results show ore zones continues more than 450 metres below surface

Results demonstrate continuity of the ore zone to more than 450 metres below the surface.

Furthermore, there are no geological indicators which suggest bounding of the ore at depth further supporting Pantoro's belief that the mine will be around for many years to come.

Positively, these very high-grade results over good strike lengths suggest that the orebody is maintaining its strike dimensions down plunge.

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Market Cap: $241.07 m
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Pantoro Ltd in the process of upgrading to produce up to 100,000 gold ounces...

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