Pantoro Gold Ltd (ASX:PNR, OTC:PNTOF, FRA:RKN) has confirmed continuity of high-grade mineralisation at the Racetrack discovery within its 100%-owned Norseman Gold Project in Western Australia, including one of the strongest gold intercepts reported by the company since exploration resumed in 2019.
Second-phase infill drilling returned 4.94 metres at 349.14 g/t gold from 603.02 metres, including 0.91 metres at 1,737.37 g/t and 0.43 metres at 80.67 g/t.
Other notable results included 20.36 metres at 15.55 g/t from 576.29 metres, including 5.94 metres at 43.1 g/t, as well as 3.53 metres at 34.44 g/t and 7.05 metres at 8.82 g/t.
Long Section of Racetrack.
The results have confirmed a high-grade zone extending over more than 350 metres of strike, from near surface to around 600 metres depth, with mineralisation remaining open to the east and down dip.
High-grade zone continues to grow
The latest drilling reinforced Racetrack’s potential to become a significant new source of high-grade ore for the nearby OK Underground Mine.
The discovery has been interpreted as a cross-link structure analogous to the Bullen lode, which produced more than 500,000 ounces of gold between 1985 and 2000 at a mined grade of about 10 g/t.
Managing director Paul Cmrlec said Racetrack was developing into a very high-grade structure with some of the widest intercepts recorded at Norseman.
“Grades encountered are similar to those seen at the Bullen deposit, however early drilling suggests greater lode widths,” he said.
Pantoro also noted that visible gold had been observed in laminated quartz veins within several of the reported intervals, supporting the bonanza-grade assay results.
Existing infrastructure supports development case
Racetrack is just 600 metres north of the OK Underground Mine and its existing decline infrastructure, offering the potential for relatively low-cost access compared with a standalone underground development.
Pantoro has included an exploration drive from the upper levels of the OK Decline in its financial year 2027 budget, while preliminary planning for underground infrastructure is underway.
The company expects Racetrack could be mined independently once dedicated ventilation circuits are established.
Multiple drill rigs remain active, with ongoing work focused on expanding the high-grade zone and testing the line of lode eastward towards the Mararoa Reef.
Additional drilling is also planned to assess extensions at depth and improve confidence in the continuity and geometry of the mineralised structure.
Norseman production growth strategy
Pantoro’s Norseman Gold Project is in Western Australia’s Eastern Goldfields, around 200 kilometres south of Kalgoorlie.
The project hosts a total Mineral Resource of 4.6 million ounces and Ore Reserves of 859,000 ounces, supported by a 1.2-million-tonne-per-year processing plant completed in 2022.
Norseman has produced more than 5.5 million ounces of gold since mining began in 1935.
Pantoro’s growth strategy is focused on expanding underground mining and lifting production initially to 100,000 ounces per year, with a longer-term target of more than 200,000 ounces annually.
Racetrack represents a potentially important addition to that strategy, given its high grades, proximity to operating infrastructure and scope for further expansion.