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THE DAILY ROADHOUSE

 

Matador Mining to Follow High-Grade Rock Chips as Exploration Guide

THE DRILL SERGEANT: Matador Mining (ASX: MZZ) recently completed a regional soil sampling program at the company’s Cape Ray gold project in Newfoundland, Canada.

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.

Barra Resources Banks $1.5 Million After Raising

Barra Resources (ASX: BAR) announced the completion of a Share Purchase Plan (SPP) and concurrent Share Placement. Barra Resources said subscriptions from eligible shareholders under the SPP will result in the issue of 47,725,000 shares totalling $954,500.

Auroch Minerals Shuffles Boardroom Setting Following Chairman Resignation

THE BOURSE WHISPERER: Auroch Minerals (ASX: AOU) advised that it has given current non-executive director Edward Mason a bigger seat at the Boardroom table by appointing hm as non-executive chairman.

 

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.

 

Email: admin@pantoro.com.au

Web: www.pantoro.com.au

 

THE DAILY ROADHOUSE

 

Peel Mining Boosts Southern Nights Potential

THE DRILL SERGEANT: Peel Mining (ASX: PEX) has claimed discovery of new zones of mineralisation from an ongoing drilling campaign across the company’s 100 per cent-owned Wagga Tank project, south of Cobar in western New South Wales.

Cassini Resources Advances Mount Squires Gold Project

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced final results of recent RC drilling and future work plans at the company’s 100 per cent-owned Mount Squires project in the West Musgrave Province of Western Australia.

Barra Resources Drilling at Burbanks

THE DRILL SERGEANT: Barra Resources (ASX: BAR) has commenced a Reverse Circulation (RC) drilling program at the company’s Burbanks gold project, south of Coolgardie in Western Australia.

Geopacific Resources Raising $45M to Underpin Woodlark Project Development

THE BOURSE WHISPERER: Geopacific Resources (ASX: GPR) has completed a $40 million share placement and is subsequently offering a Share Purchase Plan (SPP) to raise up to a further $5 million to eligible shareholders.

PolarX Hits Mineralised Porphyry‐Style Veins at Mars

THE DRILL SERGEANT: PolarX Limited (ASX: PXX) has completed a single diamond drill hole into the Mars porphyry target within the company’s Alaska Range project in Alaska.

Pantoro Encounters Wide High-Grade Intercepts at Rowdies

THE DRILL SERGEANT: Pantoro Limited (ASX: PNR) has drilled high-grade extensions to the north Rowdies lode from results along strike of existing development in the upper levels of the Wagtail Underground Mine, part of the company’s 100 per cent-owned Halls Creek gold project in the Kimberley Region of Western Australia.

Pantoro Encounters Wide High-Grade Intercepts at Rowdies

THE DRILL SERGEANT: Pantoro Limited (ASX: PNR) has drilled high-grade extensions to the north Rowdies lode from results along strike of existing development in the upper levels of the Wagtail Underground Mine, part of the company’s 100 per cent-owned Halls Creek gold project in the Kimberley Region of Western Australia.

The Wagtail North Mine, which accesses the Rowdies and Wagtail North Lodes, achieved first ore development during the first quarter of 2019.

Since that time, Pantoro has progressed development on the first four levels and mineralisation has been identified and developed both within and outside of the current Ore Reserve.

Mineralisation exists on a number of parallel structures which can be close spaced, and have required additional drilling and time to understand the position of high-grade shoots within each structure.

Pantoro said its knowledge of the high-grade shoots is improving level by level and mineralisation appears regular down dip of the high-grade zones within each lode.

Productivity from the mine is expected to continue to improve as the ore definition increases.

The latest drilling has demonstrated high-grade mineralisation extends approximately 70 metres beyond the current Ore Reserve and remains open to the north.

Intercepts which are inside of the current Ore Reserve have returned a number of zones with better widths and grades than currently modelled.

Best results include:

2.2 metres at 22.5 grams per tonne gold;
2.63m at 35.8g/t gold;
3.05m at 11.9g/t gold, including 0.3m at 63.8g/t gold;
5.7m at 19.6g/t gold, including 0.38m at 88g/t gold;
3.55m at 9.31g/t gold, including 0.41m at 14.6g/t gold;
4.1m at 19.2g/t gold, including 0.7m at 35.1g/t gold and 0.68m at 58.2g/t gold;
1.08m at 11.97g/t gold, including 0.4m at 22.6g/t gold;
5.66m at 12.97g/t gold, including 0.81m at 38.5g/t gold, 0.49m at 45.4g/t and 0.55m at 24.2g/t gold;
9.8m at 8.83g/t gold, including 0.7m at 34.2g/t gold and 0.28m at 59.4g/t gold;
1.9m at 8.62g/t gold; and
0.63m at 16.8g/t gold.

“These results demonstrate the potential for the Wagtail North underground mine to grow in a fashion similar to the Nicolsons mine when it was first developed back in 2015,” Pantoro managing director Paul Cmrlec said in the company’s announcement to the Australian Securities Exchange.

“While it has taken longer than expected to take Wagtail to full production, we are confident that the mine will provide a reliable high-grade ore feed as our knowledge of the ore zones improves and the mine is fully resourced.

“These new results show extension of the Ore Reserve, and thicker, higher grade zones within the currently planned mining areas.”

 

Email: admin@pantoro.com.au

Web: www.pantoro.com.au