logo-loader
viewPantoro Ltd

Pantoro reveals outstanding drill results up to 94.2 g/t gold at Norseman Gold Project

Snapshot

Drilling of the initial production targets is expected to be completed during the first quarter of the 2020 calendar year and will be followed by mine design and approval processes.

Pantoro Ltd - Pantoro reveals outstanding drill results up to 94.2 g/t gold at Norseman Gold Project

Quick facts: Pantoro Ltd

Price: 0.14 AUD

ASX:PNR
Market: ASX
Market Cap: $164.63 m
Follow

Pantoro Ltd (ASX:PNR) has confirmed initial positive results from diamond and reverse circulation drilling at the Daisy South Deposit, part of the Norseman Gold Project in WA.

Assay results from the first nine holes of an initial 28-hole drilling program have been received with outstanding results.

The drilling has focussed on extending the existing resource and following up on a preliminary structural assessment of the Gladstone-Daisy corridor, with new results including:

  • 7 metres at 28.8 g/t gold including 2 metres at 94.2 g/t gold;
  • 1.62 metres at 31.53 g/t gold including 0.4 metres at 87.01 g/t gold;
  • 13 metres at 4.72 g/t gold including 1 metre at 25.90 g/t gold;
  • 1.40 metres at 9.96 g/t gold;
  • 1 metre at 8.81 g/t gold; and
  • 0.6 metres at 29.6 g/t gold.

Drill hole location plan - Daisy South

Pantoro managing director Paul Cmrlec said: “Pantoro’s drilling programs at Norseman are proceeding as planned in the areas identified as the likely first production targets upon recommencement of operations.

“These initial results at Daisy South demonstrate the quality of mineralisation available for mining at Norseman, and we expect further results from Daisy South, Gladstone Everlasting and Scotia in the near term.

“Drilling of the initial production targets is expected to be completed during the first quarter of the 2020 calendar year and will be followed by mine design and approval processes required to convert Mineral Resource to Ore Reserves.

High grade ore zone in the Daisy Open Pit showing the pinch and swell of the veining

“There are a large number of existing Mineral Resources and mineralised zones ready for resource development activities at Norseman and Pantoro will continue to focus on growth of the immediate mine plan while also considering next exploration targets within the project area.

“Pantoro settled the acquisition of Norseman only four months ago and progress to date has completely met our expectations.”

Ongoing drill programs

There are currently three drill rigs in operation at Norseman, undertaking both diamond and reverse circulation drilling programs which are focussed on resource development at the Gladstone/Everlasting, Daisy South and Scotia deposits.

Programs at all three deposits are well advanced and have been designed to primarily infill existing results to the level required to convert Mineral Resources to Ore Reserve status.

Additionally, and following the initial strong results at the Princess Royal/Slippers Prospect, follow up drilling is planned prior to the end of December following completion of the Daisy South program.

Drilling is planned to continue in the new year completing the programs above as well as moving onto the other deposits identified in the start-up program.

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