Panoramic Resources Limited (ASX:PAN) has identified the potential to significantly increase the Savannah Mineral Resource through ongoing infill underground Resource definition drilling at the Western Australian nickel project.
In the June quarter the company commenced a new underground drill programme to test and infill the poorly drilled area of the Savannah orebody located immediately below historical workings and above the 900 Fault.
The drill programme is being undertaken from a drill cuddy on the 1425 level that was recently developed as part of ongoing mine access to this area of the Savannah mine. The 1425 level and subsequent mine development in this area provides much improved drill angles (near perpendicular to strike) to evaluate this part of the Savannah orebody.
When completed this development is also ideally positioned to continue testing the orebody below the 900 Fault which currently contains a Mineral Resource of 14,900 nickel tonnes at an average grade of 1.65% nickel.
Results for the second drill fan of three holes completed above the 900 Fault from the 1425 drill cuddy continue to return significantly thicker mineralisation intercepts than predicted by the current Savannah resource model.
In the second completed drill fan, the increased thicknesses are noticeable in all three drill holes with the highest grade reported in the third and deepest drill hole (KUD1943) as the orebody approaches the 900 Fault.
The significantly thicker mineralised intercepts returned by the first two completed drill fans above the 900 Fault, coupled with the flatter plunge on the mineralisation indicated by KUD1943, will undoubtedly increase the current Mineral Resource in this area of the mine.
The results for the three drill holes completed on the second drill fan of the current program targeting above the 900 Fault are: § 28.9m @ 1.16% Ni, 0.74% Cu and 0.06% Co from 97.2m in KUD1931, including: o 19.1m @ 1.52% Ni, 0.84% Cu and 0.08% Co from 107.0m § 17.4m 1.02% Ni, 1.38% Cu and 0.05% Co from 117.4m in KUD1938m, including: o 7.6m @ 1.60% Ni, 1.85% Cu and 0.08% Co from 117.4m § 9.0m @ 2.95% Ni, 0.06% Cu and 0.15% Co from 162.0m in KUD1943
The aim now remains to complete the program pattern of holes above the 900 Fault, followed by the update of the Mineral Resource and mine plan for this area during the calendar year. Once the drill program above the 900 Fault is completed the plan is to then begin testing and upgrade the Savannah resource below the 900 Fault in 2023.
The continued success of the drill programme to infill the poorly drilled area of the Savannah orebody immediately above the 900 Fault is very pleasing,” Managing Director and CEO, Victor Rajasooriar, said.
“The results from the second completed drill fan in this area strongly support the recently reported returns from the first drill fan and together they show potential to increase our mineral inventory above the 900 Fault and support the planned opening of a new mining front in the Savannah orebody over the next 12 months to support the current mining operations at Savannah North.
“We look forward to announcing more drill results from these drill programs in due course.”
