Pantoro Limited (ASX:PNR) has received further high-grade results from a four-hole follow-up drilling program at Sailfish Prospect on Lake Cowan at the Norseman Gold Project in WA's Eastern Goldfields.
Three out of the four holes drilled returned strong intercepts including:
- 1.6 metres at 61.78 g/t gold from 98.5 metres downhole, including 0.33 metres at 234.14 g/t;
- 0.65-metre at 38.66 g/t from 88.9 metres downhole; and
- 0.8-metre at 9.88 g/t from 93 metres downhole.
The company believes the Sailfish reef may be a shallow SE dipping lode system with hanging wall and footwall ore zones oriented similarly to the high-grade HV1 vein at the Harlequin mine to the south.
“Encouraging results”
Pantoro managing director Paul Cmrlec said: “Lake Cowan has long been recognised as an area of excellent exploration potential with little work completed historically.
“Drilling at Sailfish by Pantoro is the first exploration undertaken on the lake since the early 1990s and the success that we have seen in the first target area at Sailfish provides great encouragement for our ongoing programs."
Initial drilling
The follow-up program was undertaken after the first eight-hole program returned high-grade intercepts including:
- 8.1 metres at 67.29 g/t from 78.6 metres downhole including 0.7-metre at 521 g/t and 0.25-metre at 252 g/t;
- 3.5 metres at 2.56 g/t from 64 metres downhole including 0.3-metre at 26.2 g/t; and
- 1.8 metres at 4.25 g/t including 0.95-metre at 7.71 g/t from 171.45 metres downhole.
Sailfish Prospect drilling.
Looking forward
The company plans to undertake a more substantial exploration program during November 2020.
Cmrlec said: “In addition to ongoing drilling at Sailfish and other prospects planned for the coming year, Pantoro has recently reprocessed the substantial geophysical data set at Norseman and has committed to additional gravity surveys to better define several additional targets ahead of drilling.”
As part of the Lake work, Pantoro is completing a review of the extensive geophysical datasets available to it from the CNGC database, focusing on the gravity and magnetic data in conjunction with the historic multi-element geochemical data.
The company is planning to undertake a detailed gravity survey over the entire tenement package including the lakes early in 2021.