- Pantoro (PNR) intersects up to 60.9g/t gold from the Wagtail underground development at the Halls Creek Project in Western Australia
- The results received are some of the deepest intersected in the mine to date and drilling is continuing with focus on extending the current mineral resources
- Additionally, the incline development to access the orebodies at the Wagtail South mine is progressing well with work accelerating in the June quarter
- Previous work has intersected up to 41.40g/t gold and production is scheduled to begin in the first half of 2022
- Pantoro ends the day 2.27 per cent in the red with shares trading at 21.5 cents
Pantoro (PNR) has intersected up to 60.9 grams of gold per tonne (g/t) from the Wagtail underground development at the Halls Creek Project.
The Halls Creek Project lies in the Kimberly Region of Western Australia and, as of May 31, 2020, has a mineral resource of 339,000 ounces of gold.
Best results include 1.45 metres at 60.9g/t gold, 0.32 metres at 56.5g/t gold and 1.89 metres at 50.7g/t gold.
These results are some of the deepest intersected in the mine to date and lie up to 120 metres below the 2020 metres relative level (mRL).
Drilling is continuing with focus on extending the current mineral resources and ore reserves.
Managing Director Paul Cmrlec commented on the results and what they mean for the Wagtail mine.
“We have continued to see growth in the mineral resource and ore reserve at the Wagtail mine as development has progressed deeper,” Mr Cmrlec said.
“These results suggest that Pantoro will be continuing to extend the mine for the foreseeable future.
“Halls Creek has been a fantastic long term asset for the company and continues to play a critical role in Pantoro’s growth.”
Additionally, the incline development to access the orebodies at the Wagtail South mine is progressing well with work accelerating in the June quarter.
Recent drilling and development has returned intersections of 0.47 metres at 41.40g/t gold, 0.35 metres at 34.30g/t gold and 0.58 metres at 20.1g/t gold.
Production from Wagtail South is scheduled to begin in the first half of 2022.
Pantoro has ended the day 2.27 per cent in the red with shares trading at 21.5 cents in a $309.9 million market cap.