Pantoro Ltd (ASX:PNR) has cast its first gold bar at the Norseman project in WA.
The gold stock crafted the eight-kilogram bar with Doré from the processing plant’s gravity circuit, generating its first-ever bullion on October 13.
But entering production is far from the end of the story for Pantoro: the gold stock’s mill throughput is set to ramp up to a nameplate capacity of 125 tonnes per hour over the December quarter.
Beyond the processing plant, Pantoro says operations at the Scotia open pits and the OK underground mine are progressing well, with around 160,000 tonnes of ore stocks on the run of mine available for processing.
“Cumulating three years of hard work”
Commenting on the maiden gold bar, Pantoro managing director Paul Cmrlec said: “We are very pleased to confirm our first gold production at Norseman, which represents the culmination of approximately three years of hard work. Norseman has been taken from a dormant site with no ore reserves or usable processing facility to full operational status.
“There have been some unexpected delays resulting from minor but frustrating equipment start up and control programming issues during commissioning, however we are confident that all of those issues have now been resolved and the plant is operating well.
“We thank all of our staff and contractors for their dedication to achieving this outcome during the past three years, along with our joint venture partner, Tulla Resources Plc (ASX:TUL).”
The maiden gold pour.
About the Norseman Project
Pantoro picked up a 50% stake in the Eastern Goldfields-based Norseman Project back in July 2019.
The company operates as manager of the unincorporated joint venture, meaning it’s responsible for defining and implementing work programs and the day-to-day management at the gold hub.
Crucially, Pantoro’s interest in the Norseman Gold Project is secured through industry standard security arrangements over the entire project tenure.
A new processing facility has been constructed to facilitate production and was minted in early September.
Mining is underway at both the Scotia Mining Centre and OK underground mine, with material ore stocks available for processing on the run of mine.
Norseman is reported to host 4.8 million ounces of gold in mineral resources, along with a 973,000-ounce gold reserve.