- Pantoro (PNR) intersects more high-grade gold at Scotia Deeps within its 50 per cent-owned Norseman Gold Project in WA
- Drilling aims to extend mineralisation and convert current inferred and unclassified material to indicated resources and probable ore reserves
- The results confirm mineralisation continues more than 500 metres below surface which suggests a long life underground ore source
- Pantoro says the results confirm the Scotia Mining Centre will be a long life, high grade ore source for the Norseman gold project for many years to come
- Company shares are up 2.44 per cent to trade at 21 cents
Pantoro (PNR) has announced high-grade results from drilling at Scotia Deeps within its 50 per cent-owned Norseman Gold Project in the Eastern Goldfields of Western Australia.
The company has been undertaking drilling at Scotia Deeps over the last 18 months to extend known mineralisation and convert current inferred and unclassified material to the indicated mineral resource and probable ore reserve categories.
Positively, results have confirmed mineralisation continues more than 500 metres below surface which suggests a long life underground ore source.
Underground mining is expected to commence before the completion of open pit mining with an integrated plan already included in the phase one mine plan.
Latest results from outside the current ore reserve include 18 metres at 8.29 grams of gold per tonne (g/t) from 174 metres, 11 metres at 3.22g/t gold from 179 metres including four metres at 6.81g/t gold, 7.2 metres at 17.58g/t gold from 431.2 metres, and six metres at 3.45g/t gold from 361 metres including 3.2 metres at 5.83g/t gold.
The company expects the results will deliver additional ore reserves, further extending the current mine life and annual gold production.
Managing Director, Paul Cmrlec, commented on the drilling results.
“Drilling within the Scotia Mining Centre has been an outstanding success, both in extending known orebodies and in discovery of new mineralised zones. The results at depth confirm that the Scotia Mining Centre will be a long life, very high grade ore source for the Norseman gold project for many years to come.”
Drilling is continuing with four drill rigs currently operating.
Company shares were up 2.44 per cent to trade at 21 cents at 2:43 pm AEDT.