Pantoro Ltd (ASX:PNR) has received high-grade diamond drilling results from OK Underground Mine within the Norseman Gold Project in WA, extending the depth of defined mineralisation in the 02 lode below the 22 level.
The initial phase of the program, in which around 7,586 metres of diamond drilling was completed, has focused on the central portion of the 02 lode.
Notable results include:
- 6.05 metres at 22.9 g/t gold;
- 1.56 metres at 59.62 g/t;
- 1.35 metres at 22.89 g/t;
- 3.35 metres at 10.3 g/t; and
- 6.85 metres at 8.07 g/t.
The OK Underground Mine showing Star of Erin, Main and 02 lodes.
"Consistent high-grade nature"
Managing director Paul Cmrlec said: “These additional results from the OK Underground Mine demonstrate the consistent high-grade nature of the deposit beneath the historic workings.
“The decline at OK has been fully rehabilitated and recommencement of production activities will be relatively straightforward.
“These outstanding has given us confidence that the OK Underground Mine is likely to be one of the first developments when Pantoro restarts operations at Norseman.”
Shares higher
Strong newsflow from Norseman has seen the company's shares rise from 6.5 cents on March 13 to 22 cents last week and today they have been up as much as 8% to 20.5 cents.
These new results are in addition to the intersections reported on April 17 from below historic workings, which include:
- 2.4 metres at 623.97 g/t;
- 4.6 metres at 46.40 g/t;
- 2.17 metres at 47.38 g/t; and
- 3.4 metres at 8.92 g/t.
Infill-drilling at Star of Erin
The combined results demonstrate the lateral and vertical continuity of the high-grade O2 Lode structure and complement the limited historic diamond drilling below the lowest development levels at the OK Underground Mine.
Drilling is now complete on the O2 Lode for the current evaluation with a further 13 holes to be logged, assayed and reported.
An infill drilling program has begun on the Star of Erin ore body which is easily accessible from the current underground development.