Pantoro Ltd’s (ASX:PNR) shareholder Robmar Investments Pty Ltd has increased its stake in the company from 15.8% to 16.87%.
The increase brings Robmar Investment’s total number of shares from 186.33 million shares to 198.43 million shares.
High-grade drilling results
Pantoro recently received high-grade gold results in drilling of the Scotia, Daisy South and Gladstone-Everlasting prospects at Norseman Gold Project which indicate possible extensions to the deposits.
Best result at Scotia was 5 metres at 15.91 g/t from 54 metres with a best of 3 metres at 12.13 g/t from 59 metres at Daisy South and 7 metres at 8.67 g/t from 46 metres at Gladstone-Everlasting.
The company has completed around 23,000 metres of reverse circulation (RC) and diamond drilling since August 2019, returning a number of intersections that confirm thick high-grade mineralisation outside existing mineral resources.
Existing open pits at Gladstone and Scotia were mined at average grades of greater than 4.0 g/t historically and represent large-volume, high-grade surface mining opportunities with strong metrics relative to many peers within the Australian resource sector.