logo-loader
Pantoro Ltd

Pantoro’s high-grade drilling demonstrates continued upside at Nicolsons Gold Mine in WA

As new drilling is in areas outside of the existing ore reserve estimate, the new results are expected to have a positive impact on the mineral resource and ore reserve update expected June 30, 2019.

1557194670_Pantoro-header.jpg
Pantoros shares last traded at 23 cents

Pantoro Ltd (ASX:PNR) has demonstrated continued upside at its Niolsons Gold Mine near Halls Creek in WA, posting high-grade drilling results from the Johnston Lode at the south end of the Nicolsons.

Prior to this drilling program the mineral resource modelled in the area was not sufficient grade to be included in the ore reserve and mine plan due to wider spaced drilling in the deeper zones of this area.

Recent drilling has targeted these high-grade areas, as knowledge of the ore system's plunge-and-dip characteristics have been better defined by mine development.

 

Schematic long section of the Johnston Lode highlighting drill assays since the last mineral update

 

READ: Pantoro builds cash as production upgrade takes shape

Pantoro’s managing director Paul Cmrlec said these new outstanding results, combined with the recent high-grade intersections in the Anderson lode to the north of the mine, confirm the continuing high-grade nature of the Nicolsons ore system at depth.

Cmrlec said: “The results will be included in the annual mineral resource and ore reserve update to be completed at June 30, 2019 and will contribute to the ongoing growth of the mine.

“Operations in the Wagtail North underground mine continues to access new ore development faces in the Wagtail and Rowdies ore bodies and the Wagtail South open pit cutback is progressing to plan.

“With ore production increasing from both of the Wagtail mining areas and Nicolsons mine operating in steady state the Halls Creek Operations are in strong position to meet the planned 80,000 ounces per annum production rate by the middle of this year.”

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

New results include:

  • 2.45 metres at 73.09 g/t gold, including 0.6 metres at 289.7 g/t;

  • 2.95 metres at 51.47 g/t;

  • 1.9 metres at 35.89 g/t;

  • 1.7 metres at 11.6 g/t;

  • 2.20 metres at 16.85 g/t; and

  • 0.8 metres at 43.63 g/t.

The results demonstrate the continuity of mineralisation at depth in the Johnston Lode and follow the recent drill program completed in the Anderson Lode in the northern end of the mine.

 

Schematic long section of the Anderson Lode highlighting drill assays received since the last mineral resource update

Quick facts: Pantoro Ltd

Price: $0.21

Market: ASX
Market Cap: $241.07 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Pantoro Ltd named herein, including the promotion by the Company of Pantoro Ltd in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Pantoro Ltd in the process of upgrading to produce up to 100,000 gold ounces...

Pantoro Ltd (ASX:PNR) managing director Paul Cmrlec speaks to Proactive Investors about the gold producer's operations at the multi-faceted Halls Creek Project, in the Kimberley Region of Western Australia. At the original Nicolsons underground mine, new equipment is being deployed to...

on 3/7/18

3 min read