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- Panoramic Resources (PAN) receives further strong results from its ongoing drilling program at its Savannah nickel project in Western Australia
- The results come from the third drill fan of three holes and show “significantly thicker” mineralisation intercepts than predicted by the current Savannah resource model
- Panoramic says these results host the potential to significantly increase the mineral resource in this area and support the development of a second mining front
- Drilling at the project is ongoing and will be followed by a program to test the Savannah orebody below the 900 Fault
- Panoramic Resources last traded at 23 cents on August 24
Panoramic Resources (PAN) has received further strong results from its ongoing drilling program at its Savannah nickel project in Western Australia.
The results come from the third drill fan of three holes, and Panoramic said they returned significantly thicker mineralisation intercepts than predicted by the current Savannah resource model.
Results from the program included 19.90 metres at 0.96 per cent nickel, 0.71 per cent copper, and 0.05 per cent cobalt from 104.15 metres, including 8.9 metres at 1.33 per cent nickel, 0.57 per cent copper and 0.07 per cent cobalt.
Panoramic said these results hosted the potential to significantly increase the mineral resource in this area and supported the development of a second mining front.
Managing Director and CEO Victor Rajasooriar said the continued success of the drill program to infill and extend the Savannah orebody immediately above the 900 Fault in the area was “very pleasing”.
“The results from the third completed drill fan in this area strongly support the initial two drill fans, and together, they show potential to increase our mineral inventory above the 900 Fault and support the planned opening of a new mining front over the next 12 months,” Mr Rajasooriar said.
“This will supplement and further de-risk the current mining operations at Savannah North.”
Panoramic launched its new underground drilling program during the June quarter to test and infill the previously poorly-drilled area of the Savannah orebody immediately below historical workings and above the 900 Fault.
The company said that once completed, this development would be ideally positioned to continue testing the orebody below the 900 Fault, which currently contained a mineral resource of 14,900 nickel tonnes at an average grade of 1.65 per cent nickel.
Drilling at the project is ongoing and will be followed by a program to test the Savannah orebody below the 900 Fault.
Panoramic Resources last traded at 23 cents on August 24.
