- Pantoro (PNR) has intersected up to 234.14g/t gold from a follow-up drilling program at the Sailfish prospect in Western Australia
- Of the four holes drilled, three returned significant intercepts
- The aim of this drilling was to follow up on the initial eight-hole program which returned a peak result of 521g/t gold
- The new results enable Pantoro to undertake a more thorough program to refine its understanding of deposit geometry, and structural and lithological controls
- Pantoro has ended the day 5.26 per cent in the green with shares trading for 20 cents
Pantoro (PNR) has intersected up to 234.14g/t gold from a follow-up drilling program at the Sailfish prospect on Lake Cowan.
Sailfish is part of the Norseman Gold Project which lies in the Eastern Goldfields of Western Australia, roughly 725 kilometres east of Perth.
Of the four holes drilled, three returned significant intercepts with a peak result of 1.6 metres at 61.78g/t gold from 98.5 metres, including 0.33 metres at 234.14g/t gold.
The aim of this program was to followup on the initial eight-hole program which returned high-grade intercepts such as 8.1 metres at 67.29g/t gold from 78.6 metres including 0.7 metres at 521g/t gold.
Based on the recent and previous drilling, Sailfish appears to be a shallow southeast dipping lode system with hanging wall and footwall ore zones.
These new results enable Pantoro to undertake a more thorough program to refine its understanding of deposit geometry, and structural and lithological controls.
This program is scheduled to begin sometime this month.
“Lake Cowan has long been recognised as an area of excellent exploration potential with little work completed historically. Drilling at Sailfish by Pantoro is the first exploration undertaken on the lake since the early 1990’s, and the success that we have seen in the first target area at Sailfish provides great encouragement for our ongoing programs,” Managing Director Paul Cmrlec said.
“In addition to ongoing drilling at Sailfish and other prospects planned for the coming year, Pantoro has recently reprocessed the substantial geophysical data set at Norseman and has committed to additional gravity surveys to better define several additional targets ahead of drilling,” he added.
Pantoro has ended the day 5.26 per cent in the green with shares trading for 20 cents in a $267.5 million market cap.