Pantoro Ltd's (ASX:PNR) shallow follow-up drilling at Princess Royal/Slippers deposit of its Norseman Gold Project has intersected at least four high-grade lodes along strike and down dip of the existing workings.
A shallow infill and extension reverse circulation (RC) program has been completed and yielded further high-grade results of up to 7 metres at 6.06 g/t gold from 123 metres.
The aim of the program was a to confirm continuity and extend mineralisation ahead of mineral resource updates planned for release later this June quarter.
High-grade results
The company said the results continued to demonstrate the high-grade nature of the Norseman gold system and the potential for further discoveries.
Other results include:
- 2 metres at 20.37 g/t from 25 metres;
- 2 metres at 10.28 g/t from 100 metres;
- 4 metres at 3.52 g/t from 81 metres;
- 1-metre at 20.7 g/t from 62 metres;
- 7 metres at 6.06 g/t from 123 metres;
- 1-metre at 38.8 g/t from 43 metres;
- 4 metres at 4.97 g/t from from 84 metres;
- 2 metres at 6.05 g/t from 93 metres;
- 4 metres at 4.67 g/t from 85 metres;
- 8 metres at 2.45 g/t from 67 metres;
- 12 metres at 1.45 g/t from 54 metres; and
- 6.48 metres at 3.71 g/t from 127.8 metres.
“Confirmed continuity”
Pantoro managing director Paul Cmrlec said: “These results from Princess Royal/Slippers have confirmed continuity of the mineralisation in the main lodes and have also highlighted significant near-surface mineralisation in additional hanging wall lodes.
“The hanging wall lodes present real potential for an expanded open pit and subsequent underground targets once additional infill drilling is completed.
“Our project strategy at Norseman is advancing rapidly.
“The first-stage of infill and extensional drilling is nearing completion in all six of our target mining areas, with resource modelling and permitting activities underway.”
The Princess Royal/Slippers Deposit showing existing open pits and underground workings
Historical context
Princess Royal/Slippers drilling intersected at least four high-grade lodes along strike and down dip of the existing workings, two of which are near-surface in the hanging wall and have not been previously mined.
The main lode and footwall lodes were historically mined to shallow depths in small open pits.
This drilling together with the historical drill results and existing underground development indicates potential down dip extension of the ore zones to around 250 metres below surface.
Next steps
The indicated and inferred mineral resource at the deposit stands at 548,000 tonnes at 3.1 g/t gold for 55,000 ounces with scope for growth through drilling.
Work has commenced on re-estimation of the mineral resource, mine design and feasibility assessment.
Shares have been as much as 7% higher to 15 cents intra-day.