Pantoro Ltd (ASX:PNR) has had a successful start to the maiden drilling program at Norseman Gold Project with high-grade results of up to 18.02 g/t gold.
A short reconnaissance program was undertaken in the Slippers deposit to confirm continuity of mineralisation along strike ahead of a more detailed drill out for mineral resource updates and mine design
The Slippers deposit is part of the Princess Royal ore system.
After this program, drilling has moved to the Gladstone-Everlasting deposit where the mineral resource stands at 2.701 million tonnes at 2.9 g/t gold for 252,000 ounces.
Existing open pit optimisations demonstrate potential for an open pit of 1 to 1.2 million tonnes at 4 to 4.4 g/t gold.
Drilling is focused on infill and extension of the current mineral resource and potential for ongoing growth at the deposit is considered high.
Pantoro managing director Paul Cmrlec said: “These excellent results are what we expected in commencing work at Norseman.
“The size of the goldfield at Norseman and quality of targets for both recommencement of production and exploration discovery is second to none in our view.
“Pantoro will continue to work to its plan at Norseman, systematically developing a long-term mine plan from existing mineral resources while exploring the best of many prospects identified to have excellent potential for discovery of large-scale deposits.”
The initial RC drilling program yielded outstanding results including:
- 11 metres at 9.1 g/t gold, including 5 metres at 18.02 g/t from 77 metres;
- 11 metres at 3.8 g/t, including 2 metres at 15.8 g/t from 39 metres;
- 3 metres at 8.09 g/t, including 1 metre at 17.5 g/t from 67 metres; and
- 1 metre at 18.7 g/t from 96 metres.
Forward resource development program
Pantoro has received approvals for drilling across the tenement package and is enacting its development for the site.
One drill rig is active with a second drill rig planned for mobilisation in coming weeks and a third drill rig planned to be mobilised in the coming months.
Several deposits are targeted for near-term drilling.
Initial targets are primarily open pit targets with ongoing potential for underground mining including:
- Gladstone – Everlasting and Daisy South (Gladstone mining centre);
- Scotia, Free Gift and Lady Elenor (Scotia mining centre);
- Princess Royal (North Royal mining centre);
- Maybell and Lord Percy (Maybelle mining centre);
- HV5 (Harlequin mining centre);
- Cobbler; and
- OK underground.