Pantoro (ASX:PNR) has drilled out grades of up to 346.7 g/t gold in its latest batch of results from the ongoing underground drilling program at Nicolsons gold mine in Western Australia.
Results include 2.7 metres at 218.8 g/t gold from 134 metres down hole.
The new Mineral Resource and Ore Reserve estimate is expected to be completed during the current quarter.
Paul Cmrlec, managing director, commented: “These outstanding results continue to add further weight to the Mineral Resource and Ore Reserve updates currently being undertaken at Nicolsons.
“We look forward to releasing the updates which will include data from drilling results reported over the past year, and from ore development faces which are now being advanced 200 metres below surface.”
Drill result details
Highlights from the ongoing drilling at the Nicolsons underground gold mine within the Halls Creek Project includes:
- 2.7 metres at 218.8 g/t gold from 134 metres down hole including 1.7 metres at 346.7 g/t;
- 1.15 metres at 90.4 g/t from 147 metres down hole;
- 1.65 metres at 21.9 g/t from 160 metres down hole;
- 1.1 metres at 34.62 g/t from 151 metres down hole;
- 1.05 metres at 15.2 g/t from 118 metres down hole;
- 1.6 metres at 7.05 g/t from 145 metres down hole; and
- 1.8 metres at 7.31 g/t from 91 metres down hole.
Underground drilling has been focussed on further depth extensions of all known ore lodes at Nicolsons, as well as testing for new ore zones within the Nicolsons mineralised system.
Analysis
Drilling results such as these reveal the potential the Nicolsons gold mine has to increase its resource and prolong its mine life, which in turn increases its project value.
Pantoro recently achieved record gold production during the March quarter despite heavy rains at Nicolsons.
Production was up 8% to 10,348 ounces of gold compared with the December quarter even though output was affected by record rains during the quarter.
With drilling ongoing, more assays results are expected over the short term.