Panoramic encouraged by Savannah North EM results

THE DRILL SERGEANT: Panoramic Resources (ASX: PAN) has received results from a recently-completed electromagnetic (EM) survey of the Savannah North discovery hole, KUD1525 at the company’s Savannah nickel mine in Western Australia.

Panoramic recently announced a new discovery zone of mineralisation in drill hole KUD1525 of:

89.3 metres at 1.6 per cent nickel, 0.76 per cent copper and 0.12 per cent cobalt from 704.9 metres.

The company said the data from the KUD1525 EM survey has been interpreted to be an indication that the KUD1525 assay intersection is part of a substantial conductor, consistent with a complex, highly conductive bedrock source that extends from 400m down-hole to near the end of hole at 972.7m, a distance of 570m.

An EM survey was also carried out on hole KUD1526.

 

Plan view of Savannah North showing position of drill holes KUD1525
and KUD1526 and their respective EM surveys. Source: Company
announcement

 

Although that hole did not intersect any significant mineralisation, Panoramic said it did offer support to the results from KUD1525 with the EM data for KUD1526 demonstrating a broad, highly-conductive off-hole conductor located above left of the hole towards KUD1525.

“The EM results from drill holes KUD1525 and KUD 1526 are very exciting and suggest mineralisation could extend over a significant area,” Panoramic Resources managing director Peter Harold said in the company’s announcement to the Australian Securities Exchange.

“The priority now is to finish the next underground hole (drill hole KUD1527 is targeting the predicted position of the Savannah Intrusion and orebody above the 500 Fault) and then commence the surface drilling program.

“We had initially planned to utilise one drill rig, however with the very positive EM result we may consider mobilising a second surface rig to site.”

Email: info@panres.com

Website: www.panoramicresources.com