Join our daily newsletter At The Bell to receive exclusive market insights
- Panoramic Resources (PAN) announces further encouraging nickel hits from the Savannah North prospect as part an infill underground resource definition drilling campaign at its Savannah project in WA
- Latest stand-out drill results returned from below the current mining horizon at Savannah North are 40.5m at 1.96 per cent nickel and 0.75 per cent copper from 200.5m and 16m at 2.08 per cent nickel and 0.8 per cent copper from 170m
- Panoramic says the intersections are better than expected and thicker and higher-grade than predicted
- Drilling was continuing at the project
- PAN shares 9.09 per cent higher at 36 cents
Panoramic Resources (PAN) has announced further encouraging nickel hits from the Savannah North prospect as part an infill underground resource definition drilling campaign at its Savannah project in Western Australia.
In recent months the company reported assays for infill diamond holes drilled into the western, central and eastern zones of the upper mineralisation lens at Savannah North.
The latest drilling focus was temporarily shifted to an area immediately below the current mining development levels due to short-term access interactions with mining activities in the immediate vicinity.
Panoramic said intersections returned for the first three holes completed in this area were better than expected and thicker and higher-grade than predicted.
Stand-out drill results stemming from below the current mining horizon at Savannah North were 40.5 metres grading 1.96 per cent nickel, 0.75 per cent copper and 0.15 per cent cobalt from 200.5m and 16m at 2.08 per cent nickel, 0.8 per cent copper and 0.16 per cent cobalt from 170m.
“These latest drill results, especially the widths and grades seen below the current development levels at Savannah North, provide strong confidence in our current life of mine plan and the future of the Savannah nickel operation,” Panoramic Managing Director and CEO of Panoramic Resources Victor Rajasooriar said.
“The continued success of drilling in the new upper splay in the eastern zone of Savannah North may also add to our mining inventory. We look forward to announcing more drill results from both areas in due course.”
The company said the junction between the upper and lower mineralisation lenses at Savannah North appeared to harbour increased mineralisation thickness and grade.
Resource definition drilling at Savannah was continuing.
PAN shares were trading 9.09 per cent higher at 36 cents at 1:40 pm AEST.
