- Pantoro (PNR) is continuing to intersect high-grade gold from the Norseman Gold Project in the eastern goldfields of Western Australia
- Drilling has focused on the Scotia Deeps and Green Lantern deposits to extend the known mineralisation and convert the indicated mineral resource and probable ore reserve
- Grades have so far peaked at 18.16g/t gold from Scotia Deeps and 20.08g/t gold from Green Lantern
- A mineral resource and ore reserves update is scheduled to be released by the end of the March quarter
- Shares in Pantoro are up 10.9 per cent on the market and are trading at 35.5 cents
Pantoro (PNR) continues to intersect high-grade gold from the Norseman Gold Project in the eastern goldfields of Western Australia.
Drilling has focused on the Scotia Deeps and Green Lantern deposits to extend the known mineralisation and convert the indicated mineral resource and probable ore reserve.
The continued exploration success at Scotia Deeps confirms that it represents an outstanding high-grade underground opportunity that may be substantially larger than currently mapped.
Best results from Scotia Deeps include 4.2 metres at 18.16 grams per tonne (g/t) gold from 367 metres, 5.2 metres at 17.72g/t gold from 493.4 metres and nine metres at 15.66g/t gold from 403 metres.
Drilling at the Green Lantern Deposit primarily focused on the conversion of inferred mineral resources to indicated.
Results include three metres at 20.08g/t gold from 57 metres, four metres at 5.81g/t gold from 105 metres and seven metres at 5.61g/t gold from 166 metres.
A mineral resource and ore reserves update is scheduled to be released by the end of the March quarter.
“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,” Managing Director Paul Cmrlec said.
“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.”
Shares in Pantoro were up 10.9 per cent on the market and were trading at 35.5 cents at 12:35 am AEDT.