Pantoro Highlights Potential for a Large Low-Grade Gold System

THE DRILL SERGEANT: Pantoro Limited (ASX: PNR) has completed follow up drilling at the company’s Mary River gold project near Halls Creek in Western Australia.

Pantoro said the drilling identified consistent low-grade gold mineralisation over 450 metres of strike that remains open in all directions.

The drilling was undertaken around the historic Reform mine located approximately 20 kilometres from the Nicolsons gold project.

The seven-hole program included five diamond drill holes and two RC holes, and according to Pantoro, has confirmed the potential for a large low-grade gold system with new results including:

14 metres at 1.23 grams per tonne gold, including 2m at 5.33g/t gold;

13m at 0.97g/t gold;

4m at 3.35g/t gold;

4m at 2.24g/t gold;

15.7m at 0.89g/t gold; and

17m at 0.74g/t gold.

The drilling was carried out central to the historic Mary River gold field, which has had limited modern exploration with only three RC exploration drill holes prior to the work commenced by Pantoro in 2018.

The latest drilling was following up on the company’s maiden program undertaken during 2018, which was designed to collect stratigraphic information relating to the project scale geology of the prospects.

“This additional drilling confirms the presence of a broad, low grade gold system near the historic Reform mine,” Pantoro managing director Paul Cmrlec said in the company’s announcement to the Australian Securities Exchange.

“Future drilling will be focussed on extending the tested strike extent of mineralisation at Reform, and undertaking initial drilling programs at in the northern parts of the field which will be undertaken under the DMIRS EIS co-funding scheme.

“We are highly encouraged by the geological mapping and sampling undertaken in this area and the extensive historical workings.”

In addition to the work undertaken at Reform, Pantoro also carried out detailed surface mapping and sampling of the northern five kilometres of the Mary River goldfield.

The programs were conducted in an around the extensive historic and alluvial workings at McPhees, Blue Bar , Spear Gully and Chinamans where 60 pits and shafts were recorded.

The mapping and reconnaissance work identified a similar shear system and geology to that seen at Reform, with both the broad low-grade mineralisation and the localised high-grade quartz veining that the company has documented in previous work.

 

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