Pantoro Releases Additional Daisy South and Gladstone-Everlasting Results

THE DRILL SERGEANT: Pantoro Limited (ASX: PNR) released additional drilling results from the Daisy South and Gladstone-Everlasting deposits at the company’s 50 per cent-owned Norseman project in Western Australia.

Pantoro has been drilling in the area since September 2019 and expects to complete drilling on the prospects during the coming weeks in advance of re-estimation of the current Mineral Resource.

The Daisy South and Gladstone-Everlasting deposits are part of the Gladstone Mining Centre, one of the six key focus areas for Pantoro at Norseman.

Drilling in and around the existing Mineral Resource area has identified a wide zone of mineralisation at Daisy South supporting the structural model.

Drilling at Gladstone-Everlasting has demonstrated continuity of the higher-grade mineralisation, while indicating southern extensions to the Everlasting deposit outside of current indicative open pit optimisations.

Pantoro already has additional drilling around these extensions underway.

Continuity of mineralisation at both Daisy South and Gladstone-Everlasting has been confirmed with best new results including:

Daisy South

31 metres at 3.75 grams per tonne gold;
2m at 3.67g/t gold;
3m at 4.01g/t gold; and
3m at 4.13g/t gold.

Gladstone-Everlasting

2.8m at 20.07g/t gold;
2.02m at 8.35g/t gold;
0.95m at 24.55g/t gold;
2.02m at 8.35g/t gold; and
2.4m at 3.41g/t gold.

Pantoro indicated it has re-modelling of the Mineral Resource at the Gladstone Mining Centre underway using both existing and new drilling data.

Once this is completed, the company expects mine planning and Ore Reserve definition for the deposit will commence during the current quarter.

The current Mineral Resource at Gladstone-Everlasting is approximately 250,000 ounces.

“Norseman continues to return excellent results, and the site is shaping up to be a significant near term multi-mine production centre, as we expected when acquiring the project,” Pantoro managing director Paul Cmrlec said in the company’s announcement to the Australian Securities Exchange.

“We remain focussed on the mine planning and infrastructure works required for recommencement of operations in line with the project timeline.”

 

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Web: www.pantoro.com.au