- Panoramic Resources (PAN) “confirms” a new nickel zone at its Savannah nickel project in Western Australia
- The company says one of the holes in its infill underground resource definition diamond drilling program at the project intersected the unanticipated 5.7-metre zone of semi-massive breccia sulphide mineralisation in the “upper splay” section at Savannah North
- Assays for the hole were 5.7 metres at 1.47 per cent nickel, 0.63 per cent copper and 0.07 per cent cobalt from 3.3 metres in the upper splay and 2.6 metres at 1.7 per cent nickel, 0.26 per cent copper and 0.06 per cent cobalt from 63.2 metres in the upper mineralisation lens
- Panoramic says the results show the potential to extend known mineralisation and encounter new zones as drilling density increases from underground positions, with additional drilling now being planned
- PAN shares last traded at 32 cents on March 9
Panoramic Resources (PAN) has uncovered a new nickel zone at its Savannah nickel project in Western Australia.
The company said one of the holes in its current infill underground resource definition diamond drilling program at the project encountered the new zone of semi-massive sulphide mineralisation.
The hole was designed to test the northerly trending upper mineralisation lens in the eastern part of Savannah North.
A mineralised intersection was achieved at the target depth of 63.2 metres, which Panoramic said appeared to confirm its geological model.
The company said the hole also intersected an unanticipated 5.7-metre zone of semi-massive breccia sulphide mineralisation in the “upper splay” near the start of hole from 3.3 metres down-hole.
Assays for the hole were 5.7 metres at 1.47 per cent nickel, 0.63 per cent copper and 0.07 per cent cobalt from 3.3 metres in the upper splay and 2.6 metres at 1.7 per cent nickel, 0.26 per cent copper and 0.06 per cent cobalt from 63.2 metres in the upper mineralisation lens.
Panoramic said the grades of the new zone were similar to the overall Savannah mineral resource.
The company said both intercepts represent mineable widths and grades located close to the existing Savannah North underground infrastructure.
Managing Director and CEO Victor Rajasooriar said the drill results returned from the first hole into the eastern zone of Savannah North surpassed its expectations.
“Drilling will continue to infill and better define the previously known upper mineralisation lens and test the extent and tenor of the upper splay discovery,” he said.
“We’re confident this program will add to our future mining inventory in favourable positions which support the opening of new mining fronts and further de-risking of the Savannah nickel operation.”
Follow-up drilling is being planned to better define the upper splay mineralisation.
Panoramic said the drill hits show the potential to extend known mineralisation and encounter new zones as drilling density increases from underground positions.
PAN shares last traded at 32 cents on March 9.