Pantoro Ltd (ASX:PNR) has identified deep high-grade gold extensions at the Nicolsons underground mine which forms part of the Halls Creek project in Western Australia.
Extensional drilling has revealed the deepest intersection received to date in the Anderson Lode at 410 metres below the surface and 130 metres below the current ore reserve.
Best results are 16.9 metres at 7.20 g/t gold, including 8.35 metres at 12.04 g/t; 1 metre at 11.80 g/t; and 3.8 metres at 58.36 g/t, including 2.4 metres at 91.7 g/t.
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Managing Director Paul Cmrlec said: “These latest results from Nicolsons clearly demonstrate the high quality of the asset.
“Mineralisation has been very consistent throughout the mine, which has a strike length approaching 1 kilometre.
“The current round of drilling has extended the known mineralisation to around 410 metres below the surface while the current mine depth is only 250 metres.”
Focused on growth of resources and reserves
Pantoro has focused its underground exploration on the growth of mineral resources and ore reserves for the past year with two drill rigs operating.
Drilling has been focused beneath the Hall and Anderson lodes to the north and the Johnston Lode to the south.
Core from underground drilling at the Anderson Lode.
The work is aimed at supporting the long-term sustainability of the company’s planned annual production growth to 80-100,000 ounces.
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“Pantoro is very well positioned to achieve its planned production rate of 80-100,000 ounces per annum late this year,” Cmrlec said.
Very high-grade mineralisation has been found along the entire known strike length of the mine and it remains open at depth.
At Johnston Lode, development has progressed significantly with 2215, 2200 and 2160 levels extensively developed.
Ore has also been accessed on the 2180 level with development due to start.
Mineralisation out-performs ore reserve
Development continues to identify zones of very high-grade mineralisation which significantly out-perform the ore reserve in a manner similar to results in the northern side of the mine.
Cmrlec said: “We will continue to explore deeper at Nicolsons with approved drill programs in place to systematically target the ore body to depths greater than 600 metres below surface.
Ore reserve updates
“The next ore reserve updates for Nicolsons and Wagtail are expected to be released during the June 2018 quarter.
“The mine is in an exceptional position to substantially increase production with 10 stoping fronts to be available for production during the first half of 2018.
“Manning levels are being increased to achieve the planned ramp up to 25,000 tonnes per month from Nicolsons and installation works for the ore sorter are progressing in line with schedule.”
Halls Creek comprises the operating Nicolsons mine and the Wagtail mine where underground development is advancing after open-pit mining ended late last year.
Phased drill programs designed to test continued depth extensions to about 650 metres below surface are underway and will be ongoing throughout 2018.