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Pantoro strengthens board with appointment of new non-executive chairman

The company expects to begin mine planning and ore reserve definition for the Norseman project this quarter with the aim to establish a clear production development plan in support of producing 100,000 ounces per annum and eventually expanding to 200,000 ounces.

Pantoro Ltd - Pantoro strengthens board with appointment of new non-executive chairman
Pantoro owns a 50% interest in the Norseman Gold Project in WA's Eastern Goldfields

Pantoro Ltd (ASX:PNR) has strengthened its board with the appointment of Wayne Zekulich as non-executive chairman.

Zekulich was appointed to the board of directors as an independent non-executive director on October 2, 2019, and brings a wealth of experience covering financial markets and management.

His previous positions include chief financial officer of Gindalbie Metals Ltd and prior to that chief development officer of Oakajee Port and Rail.

The company is pleased to have access to Zekulich’s guidance and experience as it brings the Norseman Gold Project through development and into production.

Non-executive chairman resignation

Zekulich replaces Mike Jeffries, who has stepped down from the position but will remain an independent non-executive director of the company.

Jeffries has been chairman of Pantoro since October 5, 2016, and is in the process of reducing his commitments to listed public companies.

High-grade drilling results

In January 2020, Pantoro received high-grade drilling results from Daisy South and Gladstone-Everlasting deposits at the Norseman project.

At Daisy South around 10,300 metres of drilling has been completed since September with best new results of: 31 metres at 3.75 g/t gold from 28 metres, 2 metres at 3.67 g/t from 43 metres, 3 metres at 4.01 g/t from 73 metres and 3 metres at 4.13 g/t from 39 metres.

The best new results at Gladstone-Everlasting included 2.8 metres at 20.07 g/t from 55.9 metres and 2.02 metres at 8.35 g/t from 55.6 metres.

These results will be used to update the mineral resource, which sits at 4.4 million ounces, and support the company’s near-term development plans.

Quick facts: Pantoro Ltd

Price: 0.25 AUD

Market: ASX
Market Cap: $294.24 m

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