The company recently began drilling at Maybell, which is the last of the identified phase one start-up mining targets, and the initial results provide further encouragement for the expansion of Norseman resources.
Results from shallow drilling have been received from the Lord Percy deposit, which is to the northeast of the main Maybell deposit on a converging structure.
These highlight a shallow high-grade lode system with intersections from surface to 60 metres depth. Apart from the 4-metre intersection, other results include:
- 1.10 metres at 13.40 g/t from 37.1 metres;
- 2 metres at 9.13 g/t from 4 metres;
- 1.7 metres at 9.48 g/t from 57.35 metres;
- 4 metres at 4.56 g/t from 6 metres
- 3 metres at 4.4 g/t from 15 metres;
- 4 metres at 7.2 g/t from 55 metres; and
- 3 metres at 3.56 g/t from 57 metres.
Near-term mining plan
Managing director Paul Cmrlec said: “The Maybell Mining Centre is the last of the phase one targets for inclusion in Pantoro’s near-term mining plan.
“Results returned to date from Lord Percy have again met our expectations, highlighting a significant near-surface mineralised system for inclusion in our open pit optimisation process.
“Commencement of drilling in this area was delayed due to obtaining statutory approvals during the COVID-19 pandemic, however, all required approvals have now been received.”
Shares had been as much as 6% higher to 28 cents intra-day after hitting a new 12-month high of 29 cents earlier this week.
The Lord Percy deposit has limited historical drilling completed on a wide spacing which was used to inform the current inferred mineral resource and no modern mining has been undertaken on the deposit.
Initial drilling has confirmed a shallow dipping parallel lode system, centred around the much smaller historic workings next to the main historic Maybell deposit.
Drilling at Lord Percy is intended to bring the inferred mineral resource into the indicated category for subsequent inclusion in ore reserve calculations and will also infill currently undrilled zones within the mineralisation corridor.
Focus on completing feasibility study
Cmrlec continued: “Drilling is ongoing at both the Lord Percy and Maybell deposits.
“The initial focus is to complete the work required for inclusion in the detailed feasibility study which is progressing well.
“Both deposits have excellent potential for depth extensions beyond the open pits and additional drilling will be undertaken in due course.”
The Maybell Mine was one of the first discovered in the Dundas/Norseman region 1892 and is about 22 kilometres south of the Norseman township.
Recent mining by a small syndicate produced approximately 15,000 tonnes ore for 5,231 ounces of gold from two levels around the old workings.
Ore from this campaign was treated at the Norseman Gold Project plant and recoveries from test work on average indicate 94% recoveries with a high gravity gold component.
The mineral resource at Norseman is 4.4 million ounces of gold and many of the resources defined to date remain open along strike and at depth, and many of the Mineral Resources have only been tested to shallow depths