leadf
logo-loader
viewPantoro Ltd

Pantoro's wide, high-grade drilling results confirm second ore-zone available for mining at Norseman Gold Project

Historically, the Norseman Gold Project areas have produced over 5.5 million ounces of gold since operations began in 1935, and is one of, if not the highest grade fields within the Yilgarn Craton.

Pantoro Ltd -
Visible gold returned in drilling at the OK Underground Mine

Pantoro Ltd (ASX:PNR) has received wide, high-grade drilling results from the OK Underground Mine at the Norseman Gold Project in Western Australia, which have confirmed a second ore zone available for mining.

The 14,000-metre diamond drilling program, which has now been completed aimed to extend the depth of defined mineralisation in the O2 lode below the 22 Level as well as infill the Star of Erin Lode mineralisation.

The indicated and inferred mineral resource at OK and Star of Erin currently stands at 355,000 tonnes at 18.0 g/t for 205,000 ounces with excellent scope for growth through further drilling.

Two primary ore sources

Managing director Paul Cmrlec said: “Results from the Star of Erin Lode at the OK Underground Mine have confirmed consistent high grades which give us confidence that the mine will have at least two primary ore sources from commencement of operations.

“The revised Mineral Resource Estimate and Ore Reserve calculation are being prepared for release with the Definitive Feasibility Study for the Norseman Gold Project which is nearing completion.

“The OK Underground Mine is yet another example of the high-quality projects available for near term recommencement of production at Norseman.”

Second ore-zone available for mining 

Drilling in the Star of Erin Lode in the upper areas of the mine has returned several wide, high grade results confirming a second ore zone immediately available for mining at OK.

New results include 3.35 metres at 29.84 g/t gold, 2.4 metres at 14.58 g/t, 2.05 metres at 19.23 g/t, 0.55 metres at 22.6 g/t and 1.1 metre at 17.12 g/t.

Drilling also confirmed continuous, high-grade mineralisation over a strike length of around 420 metres in the upper levels of the mine, which can be easily accessed from existing decline infrastructure.

Assays from the O2 Lode have also been received and include 5.7 metres at 27.18 g/t gold, including 1 metre at 57.6 g/t and 1.5 metre at 61.13 g/t;

  • 1.9 metre at 6.72 g/t;
  • 3.8 metres at 6.02 g/t;
  • 0.5 metres at 18.30 g/t; and
  • 1.7 metres at 6.58 g/t, including 0.7 metres at 14.58 g/t.

Confidence to re-start development

The drilling program beneath the historic workings in the O2 Lode has covered a large proportion of the approximately 600 metres of strike.

Drilling has consistently returned high grade assays throughout the zones tested, providing Pantoro with the confidence required to restart development in the area.

The results from both the O2 and Star of Erin diamond drill programs are being used to finalise the mineral resource estimate and ore reserve calculation to be reported as part of the definitive feasibility study (DFS) for the Norseman Gold Project.

Quick facts: Pantoro Ltd

Price: 0.21 AUD

ASX:PNR
Market: ASX
Market Cap: $295.76 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

Pantoro Ltd 'in final throes' of feasibility study at Norseman ahead of...

Pantoro Ltd's (ASX:PNR) managing director Paul Cmrlec caught up with Proactive's Andrew Scott following the news of a discovery of a new zone of near-surface mineralisation at the Scotia Mining Centre - nearby to its Norseman project in Western Australia's Goldfields. The company's committed to...

on 25/8/20

3 min read