Pantoro Ltd (ASX:PNR)’s drilling is continuing to confirm the continuity of high-grade mineralisation outside of the current ore reserve at the Norseman Gold Project (PNR 50%) in WA, giving confidence that mine life extensions will be achieved.
The company has received further drill results from ongoing growth drilling of the Scotia Deeps, Green Lantern and extension drilling at Scotia North.
Significant new results include:
Scotia Deeps
- 9 metres at 15.66 g/t gold from 403 metres;
- 15.6 metres at 12.15 g/t from 476 metres;
- 5.2 metres at 17.72 g/t from 493.4 metres; and
- 4.2 metres at 18.16 g/t from 367 metres.
Green Lantern
- 20 metres at 3.20 g/t from 96 metres;
- 11 metres at 2.71 g/t from 36 metres; and
- 12 metres at 5.37 g/t from 21 metres.
Scotia Extensions
- 2 metres at 10.52 g/t from 32 metres; and
- 4 metres at 4.87 g/t from 35 metres.
Results "nothing short of spectacular”
Pantoro managing director Paul Cmrlec said: “The Scotia Mining centre was picked as Pantoro’s priority target at the time that we acquired our interest in the Norseman Gold Project.
“Results from the area have been nothing short of spectacular since drilling commenced back in 2019.”
“Based on the results received during this major drill out of the Scotia Deeps area, a significant Ore Reserve upgrade is expected when modelling is completed later this month.”
Resource and reserve upgrade is imminent
The drilling program which has been active since completion of the maiden mineral resource and ore reserve at Green Lantern in September 2021 is focused on extending the known mineralisation and converting to indicated resource and probable ore reserve.
Extensional drilling at Scotia and Green Lantern is ongoing with drilling also planned to recommence at Mainfield in the near term.
An upgrade of the resource and reserve for the Norseman Gold Project is imminent.
First gold production expected in August 2022
Pantoro is continuing to make strong progress with construction work at Norseman Gold as it targets first gold production in August 2022.
All equipment from international sources has been received and construction is advancing in line with the project schedule.
Hampton Mining & Civil Services has been selected as the preferred open pit mining contractor and WestAuz Mining as the preferred underground mining contractor.
Both contractors have been selected based on key criteria which includes recent experience in the style of mines to be operated at Norseman, ready access to key personnel already recruited, and agreement to commit new plant and equipment to the project.
The contracts are expected to be finalised in the coming weeks, with mobilisation to site planned in late March 2022.