Pantoro (ASX:PNR) has achieved record gold production during the March quarter despite heavy rains at its flagship Nicolsons gold mine within the Halls Creek Project in Western Australia.
Production was up 8% to10,348 ounces of gold compared with the December quarter even though output was affected by record rains during the quarter.
Cash and gold at the end of the quarter was $11.5 million.
Paul Cmrlec, managing director, commented: “The production ramp up at Nicolsons has rolled on during the quarter with record production despite experiencing a huge amount of rain on site well above long term averages.
“The process plant is now operating at, and often above the targeted 200,000 tonne per annum run rate which should see site production output continuing to increase during the upcoming quarters.”
Quarterly production details
The 100% owned Halls Creek Project in Western Australia hosts the producing Nicolsons underground gold mine and the Rowdies and Wagtail open pits.
Open pit production further increased with 16,467 tonnes mined at a grade of 5.76 g/t gold plus 9,807 tonnes of low grade ore was stockpiled separately.
A total of 16 full shifts and a large number of part shifts were lost in the open pits due to rainfall.
Underground production of 34,927 tonnes was mined at a grade of 8.17 g/t gold plus 7,316 tonnes of low grade ore was stockpiled separately.
The site is well positioned to consolidate the processing plant improvements realised during the quarter with ore stockpiles building as a result of open pit mining.
Additional ore sources are coming on line underground with stoping underway on the 2185 and 2170 levels, and development approaching ore positions in the Johnston Lode.
Drilling underneath Wagtail pits
Initial drill results beneath the Wagtail open pits has revealed continuing high grade mineralisation at depths of up to 150 metres.
Best results included:
- 3.6 metre at 7.67 g/t gold from 133.0 metres including 1.9 metres at 11.7 g/t gold;
- 2.6 metres at 6.46 g/t gold from 138.4 metres including 0.35 metres at 27.1 g/t gold; and
- 1.4 metres at 7.18 g/t gold from 146.2 metres including 0.8 metres at 11.7 g/t gold.
Regional exploration drilling was put on hold during the quarter due to the heavy rainfall experienced.
Drilling from underground positions at Nicolsons was ongoing throughout the period.
Drilling results and a JORC Resource and Ore Reserve update is expected during the current quarter.