Pantoro Ltd (ASX:PNR) has received additional high-grade drilling results from Daisy South and Gladstone-Everlasting deposits at its 50%-owned Norseman Gold Project in WA’s Eastern Goldfields.
The results will be used to update the mineral resource, which sits at 4.4 million ounces of gold, and support the company’s near-term development plans.
Pantoro managing director Paul Cmrlec said: “Norseman continues to return excellent results and the site is shaping up to be a significant near-term multi-mine production centre, as we expected when acquiring the project.
“We remain focused on the mine planning and infrastructure works required for recommencement of operations in line with the project timeline.”
Daisy South deposit
At Daisy South around 10,300 metres of drilling has been completed since September with best new results of: 31 metres at 3.75 g/t gold from 28 metres, 2 metres at 3.67 g/t from 43 metres, 3 metres at 4.01 g/t from 73 metres and 3 metres at 4.13 g/t from 39 metres.
The current mineral resource at Daisy is estimated to contain around 140,000 tonnes at 3.48 g/t for 16,000 ounces.
Gladstone-Everlasting results
The best new results at Gladstone-Everlasting are:
- 2.8 metres at 20.07 g/t from 55.9 metres;
- 2.02 metres at 8.35 g/t from 55.6 metres;
- 0.95 metres at 24.55 g/t from 50.55 metres;
- 2.02 metres at 8.35 g/t from 55.6 metres;
- 2.4 metres at 3.41 g/t from 69.4 metres;
- 1-metre at 6.74 g/t from 48 metres;
- 1-metre at 10.0 g/t from 86 metres;
- 2 metres at 5.02 g/t from 33 metres;
- 2 metres at 2.74 g/t from 59 metres; and
- 0.8-metre at 10.94 g/t from 103.4 metres.
The current resource at Gladstone-Everlasting is 2.7 million tonnes at 2.9 g/t for 250,000 ounces.
Next steps for Norseman
Once the mineral resource has been updated, Pantoro expects to begin mine planning and ore reserve definition for the Norseman project in the current quarter.
The aim is to establish a clear production development plan with operations supporting production of 100,000 ounces per annum – eventually expanding to 200,000 ounces.
A recent scoping study estimated the cost to re-establish the processing plant at Norseman to be approximately $25 million.