Total
0
Shares
Pantoro (ASX:PNR) - Managing Director, Paul Cmrlec
Managing Director, Paul Cmrlec
Source: Pantoro
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Pantoro (PNR) has intersected up to 59.27g/t gold from its OK Underground Mine at the Norseman Gold Project in WA
  • A 7500 metre diamond drilling program is currently underway to expand the depth of mineralisation in the O2 Lode
  • This program is also aiming to infill mineralisation at the Star of Erin Lode
  • Drilling is continuing and more results will be released when they become available
  • Pantoro is up a steady 18.2 per cent and shares are trading for 13 cents each

Pantoro (PNR) has intersected up to 59.27g/t gold from its OK Underground Mine at the Norseman Gold Project.

The Norseman Gold Project is located in the Eastern Goldfields of Western Australia, approximately 725 kilometres east of Perth.

Since operations began in 1935, over 5.5 million ounces of gold has been produced, making the project one of the highest grade fields within the Yilgarn Craton.

The OK Underground Mine was worked on in the 1930’s but then remained closed until the 1980’s when it was reopened to focus on underground drilling.

It is made-up of three developed lodes, the Main Lode, the Star of Erin Lode, and the O2 Lode.

Currently, a 7500 metre diamond drilling program is underway at the OK Underground Mine to extend the depth of mineralisation in the O2 Lode and infill mineralisation at the Star of Erin Lode.

Significant results include 1.27 metres at 59.27g/t gold, 2.18 metres at 10.05g/t gold, and 3.4 metres at 8.92g/t gold.

“These results confirm the quality of mineralisation and the exploration potential of this high-grade system,” Managing Director Paul Cmrlec stated.

“The OK Underground Mine decline was fully rehabilitated by previous owners and is in excellent condition. The OK mine is well positioned for a very low cost start-up when operations recommence,” he added.

Drilling is continuing and more results will be released when they become available.

Pantoro is up a steady 18.2 per cent and shares are trading for 13 cents each at 1:53 pm AEST.

PNR by the numbers
More From The Market Herald
Venus Metals (ASX:VMC) - Managing Director, Matthew Hogan

" Venus Metals (ASX:VMC) intersects encouraging mineralisation at Vidure

Venus Metals (VMC) has intersected encouraging copper-nickel-platinum group element (PGE) mineralisation at the Vidure Prospect.

" Whitehaven Coal (ASX:WHC) uses record prices to pay down debt

Whitehaven Coal (WHC) will use the uplift

" Alderan Resources (ASX:AL8) commences drilling at Detroit

Alderan Resources (AL8) has commenced drilling at its Detroit copper gold project, located in the US state of Utah.
RareX (ASX:REE) - Managing Director, Jeremy Robinson

" RareX (ASX:REE) begins scoping study at Cummins

RareX (REE) has begun a scoping study at its flagship Cummins Range Critical Metals Project.