Pantoro’s broad shallow Halls Creek intersections confirm major PGE system
The company is set to begin a 2,500-metre drill program to follow up additional PGE targets identified along strike and to the west of the Edison prospect.
Company
ASX:PNR
Pantoro is focused on unlocking the full potential of its 100%-owned Norseman Gold Project. The Norseman Gold Project is located in the Eastern Goldfields of Western Australia, at the southern end of the highly productive Norseman-Wiluna greenstone belt, and is one of the highest-grade goldfields within the Yilgarn Craton.
222 stories · page 6 of 12
The company is set to begin a 2,500-metre drill program to follow up additional PGE targets identified along strike and to the west of the Edison prospect.
Pantoro will help Maximus grow the existing 112,000-ounce gold mineral resource in the near term and believes the project presents a compelling opportunity.
The Australian gold explorer and producer continues to evolve assets across West Australia’s Goldfields region, with results from exploration at both the Halls Creek and Norseman projects tabled this week.
Results suggest that high-grade mineral resources and ore reserves from Mainfield will be included in future optimisations of the phase one mine plan.
Initial drilling has only tested 150 metres along strike to date and is the only drilling to effectively test any of the potential eight kilometres of this stratigraphy to the southern extent of the company’s tenure in the Scotia area.
Sailfish represents Pantoro’s first drilling prospect on Lake Cowan, and the results to date have demonstrated the huge potential to continue to uncover high-grade mineralisation throughout this under-explored area.
The aim of the drilling program was to convert existing inferred mineralisation to ore reserve status.
The drilling program has focused on infilling and expanding the existing mineral resource, for conversion to ore reserve status.
"Deconstruction of the existing processing facility has commenced and we look forward to building the project during the next year while we continue to grow the resource base through substantial ongoing drilling programs,” says MD.
The deposit presents an extensive and expanding zone of near-surface gold mineralisation to the southeast of the existing Scotia open pit.
Higher than expected production along with firm international gold prices helped the company record a free cash flow of $7.6 million last quarter from the Halls Creek Operations.
The contract, worth about $57 million, includes the crushing circuit associated with the plant and will be awarded as a guaranteed maximum price contract.
The company has continued to advance its growth strategy within its consolidated Halls Creek regional tenure, which now covers over 1,000 square kilometres and encompasses three of the five significant historical mining centres in the regio
The company is a gold producer with its Halls Creek project in the Kimberley region of WA and is building considerable resources at the 50%-owned Norseman Gold Project.
The new results have provided sufficient additional data for Pantoro to undertake a more substantial program to further refine understanding of deposit geometry, structural and lithological controls during 2021.
Both lodes extend the mineralisation at the Wagtail Underground Mine and could potentially provide upside in the early stages of project development.
The Green Lantern discovery lies around 270 metres to the southeast of the existing Scotia Pit and is open at depth and along strike to the north.
The project will have an average annual production of 108,000 ounces, peaking at 119,000 ounces in year two of production, with LOM average AISC of $1,292 per ounce.
The COVID-19 pandemic did not have any material impact on Halls Creek Project or Norseman Gold Project and the results, particularly in the second half of the year, have been pleasing.
Over five years of operation, ore reserves at Halls Creek inclusive of mine depletion have grown by over 400%, and this latest update sets the scene for continued growth into the future.