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Pantoro shareholder Robmar Investments Pty Ltd increases stake to 16.7%

The company has five drill rigs in operation at Norseman - three on surface undertaking diamond and RC drilling programs focused on resource development; one undertaking exploration on Lake Cowan; and one underground at the OK mine.

Pantoro Ltd - Pantoro shareholder Robmar Investments Pty Ltd increases stake to 16.7%
Norseman’s current mineral resource is 4.4 million ounces of gold of which PNR's interest is 50%

Pantoro Ltd’s (ASX:PNR) shareholder Robmar Investments Pty Ltd has increased its stake in the company from 15.8% to 16.87%.

The increase brings Robmar Investment’s total number of shares from 186.33 million shares to 198.43 million shares.

High-grade drilling results

Pantoro recently received high-grade gold results in drilling of the Scotia, Daisy South and Gladstone-Everlasting prospects at Norseman Gold Project which indicate possible extensions to the deposits.

Best result at Scotia was 5 metres at 15.91 g/t from 54 metres with a best of 3 metres at 12.13 g/t from 59 metres at Daisy South and 7 metres at 8.67 g/t from 46 metres at Gladstone-Everlasting.

The company has completed around 23,000 metres of reverse circulation (RC) and diamond drilling since August 2019, returning a number of intersections that confirm thick high-grade mineralisation outside existing mineral resources.

Existing open pits at Gladstone and Scotia were mined at average grades of greater than 4.0 g/t historically and represent large-volume, high-grade surface mining opportunities with strong metrics relative to many peers within the Australian resource sector.

Quick facts: Pantoro Ltd

Price: 0.205 AUD

ASX:PNR
Market: ASX
Market Cap: $241.07 m
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