Pantoro Limited (ASX:PNR) has obtained more promising results from its initial drilling program targeting the historic Mainfield at the Norseman Gold Project (PNR 50%) in Western Australia.
Key Highlights
- Drill results provide confidence that Mainfield will extend mine life at Norseman.
- The high-grade results are typical of historic drill programs in the Mainfield.
- Results suggest that high grade Mineral Resources and Ore Reserves from Mainfield will be included in future optimisations of the Phase One mine plan.
- Strong potential for Mainfield ore bodies to be accelerated into Phase One mining.
- Mainfield has produced approximately three million ounces historically with grades in excess of 11 g/t Au.
Significant results from the initial drilling program include:
- 5.7 m @ 35.85 g/t Au inc. 1.4 m @ 141.57 g/t Au.
- 1 m @ 23.5 g/t Au.
- 0.45 m @ 21.9 g/t Au.
- 2 m @ 20.61 g/t Au.
- 2 m @ 15.87 g/t Au.
- 6 m @ 14.94 g/t Au.
- 1 m @ 10.3 g/t Au.
- 2 m @ 10.8 g/t Au.
- 1.15 m @ 8.47 g/t Au.
- 3 m @ 7.72 g/t Au.
Managing Director, Paul Cmrlec, said drilling was focused on unmined virgin blocks outside of the existing remnant Mineral Resources at Mainfield. The existing underground Mineral Resource at Mainfield is 1.27 Mt @ 13.1 g/t Au for 540,000 ounces, with only 44,000 ounces currently included in Pantoro’s Phase One mine plan per DFS announced 12 October 2020.
These results continue to demonstrate the very high grades which are a consistent theme at Norseman. The iconic Mainfield was not considered in the Phase One Feasibility, and addition of Mineral Resources and Ore Reserves from this area are expected to increase mine life and head grades,” Mr Cmrlec said.
“Ore within Mainfield can be highly nuggety, with a mix of very high grade, and lower grade holes as we have seen in this first campaign eventuating in outstanding production outcomes historically. Few if any goldfields in Western Australia have produced so many ounces of gold at the very high grades encountered in Mainfield, and this drilling confirms that there is plenty more to come.
“Proving up high grade ounces in Mainfield was an objective set by Pantoro at the time of acquisition of the project, and our work programmes are on track to significantly enhance the outcomes of the Phase One Feasibility study.”
