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Pantoro hits up to 41 metres at 1.91 g/t gold at Green Lantern discovery of Norseman Project

The Green Lantern discovery lies around 270 metres to the southeast of the existing Scotia Pit and is open at depth and along strike to the north.

Pantoro Ltd - Pantoro hits high-grade gold up to 41 metres at 1.91 g/t at Green Lantern discovery in WA
Pantoro is continuing its drilling program with a focus on near-term additions to the mineral resource in the area

Pantoro Ltd (ASX:PNR) has hit high-grade gold zones of up to 41 metres at 1.91 g/t gold from 14 metres at Green Lantern discovery within Scotia Mining Centre at the Norseman Gold Project in Western Australia.

Substantial near-surface mineralisation has been identified in ongoing drilling over a strike length of around 400 metres at Green Lantern.

Mineralisation appears to be an extension of the Lady Eleanor shear system, which provides a combined strike of around 800 metres outside the phase-I open pit design at Scotia.

Multiple lode structures

Drilling indicates multiple lode structures, with a wide, lower-grade stockwork system and higher-grade zones typical of other ore bodies known within the mining centre.

The company has five drill rigs operating at the Scotia Mining Centre focused on extending Green Lantern and Lady Eleanor mineralisation, depth extension of the Scotia ore body and additional exploration and sterilisation works within the planned waste dump footprint.

"Potential to double size of planned open pits" 

Managing director Paul Cmrlec said: “The phase-1 DFS demonstrated the importance of Scotia in the revised mine plan.

“The new discovery to the southeast of the current open pit design has real potential to double the size of planned open pits, and the wide ore zones now identified add an exciting dimension to the project.

“Drilling at Scotia will continue as a priority and additional programs are also commencing on the historic Mainfield during the coming week.

“Pantoro has a clear strategy to double the ounces in the Phase One mine plan at Norseman during the next 12 to 18 months and these results provide a fantastic start to meeting that objective.”

High-grade results

The company is continuing its drilling program with a focus on near-term additions to the mineral resource in the area at Scotia.

Results indicate a wide lode system as well as a narrower high-grade system at Green Lantern, and include the following assays from Green Lantern high-grade zones:

  • 2 metres at 14.85 g/t from 67 metres;
  • 2 metres at 20.59 g/t from 47 metres;
  • 2 metres at 8.30 g/t from 73 metres; and
  • 2 metres at 4.76 g/t from 80 metres.

Assays from the Green Lantern Wide Zone consist of:

  • 41 metres at 1.91 g/t including 26 metres at 2.39 g/t from 14 metres;
  • 29 metres at 2.53 g/t including 13 metres at 3.37 g/t from 96 metres;
  • 23 metres at 1.4 g/t from 40 metres, including 9 metres at 2.15 g/t gold from 53 metres; and
  • 12 metres at 3.54 g/t from 18 metres.

Quick facts: Pantoro Ltd

Price: 0.205 AUD

Market: ASX
Market Cap: $288.72 m

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