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Pantoro (ASX:PNR) - Managing Director, Paul Cmrlec
Managing Director, Paul Cmrlec
Source: Pantoro
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  • Pantoro (PNR) has received more high-grade results from drilling at the OK Underground Mine within the Norseman Gold Project in WA
  • Over 7500 metres of diamond drilling has been completed to extend the mineralisation at depth in the O2 Lode
  • Latest results have returned grades of up to 59.62 grams per tonne of gold
  • This supports results reported in April, which returned grades of up to 47.38 and 59.27 grams per tonne of gold
  • Drilling is now completed on the O2 Lode and infill drilling has begun at the Star of Erin
  • Pantoro is up 7.89 per cent and shares are trading for 20.5 cents each

Pantoro (PNR) has received more high-grade results from underground drilling at the OK Underground Mine within the Norseman Gold Project.

The Norseman Gold Project is located in the Eastern Goldfields of Western Australia, at the southern end of the Norseman-Wiluna greenstone belt. The current Mineral Resource stands at 4.4 million ounces of gold.

Pantoro holds a 50 per cent interest in the project which it acquired in July last year.

The OK Underground Mine is located two kilometres south of the existing processing plant. The historic mine was explored during the 1930s. However, no exploration was conducted until the 1980s, when the shaft was reopened by Central Norseman Gold.

The indicated and inferred mineral resource at OK currently is 355,000 tonnes at 18.0g/t gold for 205,000 ounces.

The new results

Pantoro has completed approximately 7586 metres of diamond drilling at the OK Underground Mine. Drilling is aimed to extend the mineralisation depth in the O2 Lode, below the 22 Level.

Latest results below the 22 level include; 6.05 metres at 22.90 g/t gold, 6.85 metres at 8.07 g/t gold, 1.56 metres at 59.62 g/t gold, one metre at 16.4 g/t gold, and 0.3 metres at 15.0 g/t gold.

These results support those released in April, which returned gold grades up to 47.38, 46.40, and 59.27 grams per tonne.

“These additional results from the OK Underground Mine demonstrate the consistent high-grade nature of the deposit beneath the historic workings,” Managing Director Paul Cmrlec said.

“The outstanding results that the drill program has delivered gives us confidence that the OK Underground Mine is likely to be one of the first developments when Pantoro restarts operations at Norseman,” Paul added.

The combined results prove the lateral and vertical continuity of the high-grade O2 Lode structure. They also compliment historic diamond drilling below the lowest development levels at the mine.

Drilling is now complete on the O2 Lode. A further 13 holes are yet to be logged, assayed and reported.

The company has commenced drilling at the Star of Erin to infill mineralisation.

Pantoro is up 7.89 per cent and shares are trading for 20.5 cents each at 12:21 pm AEST.

PNR by the numbers
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