Pantoro Limited (ASX:PNR) has achieved success with its maiden underground drilling program from the high grade OK Underground Mine at the Norseman Gold Project.
The OK Underground mine is comprised of three developed lodes, the Main Lode, the O2 Lode and the Star of Erin Lode.
Managing Director Paul Cmrlec said a 7500m diamond drilling programme is currently being undertaken at the OK Underground Mine, with the objective of extending the depth of defined mineralisation in the O2 Lode below the 22 Level.
The campaign is also aiming to infill the Star of Erin Lode mineralisation.
The initial phase of the drilling has focused on the central portion of the O2 Lode.
Drilling below existing development on the 22 Level has yielded outstanding results from the first nine holes completed including:
- 27 m @ 59.27 g/t Au.
- 4 m @ 8.92 g/t Au.
- 3 m @ 6.18 g/t Au.
- 95 m @7.25/t Au.
- 18 m @ 10.05 g/t Au.
- 5 m @ 6.28 g/t Au.
“The limited drilling beneath the historic workings at the OK Underground Mine gave Pantoro a clear indication of the mines potential for growth when we acquired the project,” Mr Cmrlec said.
“These results confirm the quality of mineralisation and the exploration potential of this high-grade system. Drilling of the remainder of the program is well advanced and we look forward to releasing additional results when they become available.
“The OK Underground Mine decline was fully rehabilitated by previous owners and is in excellent condition.
“Along with the extensive infrastructure including offices, workshops and change houses already in place, the OK mine is well positioned for a very low cost start-up when operations recommence.”
The high grade OK Underground Mine is located approximately two kilometres to the south of the existing processing plant. The mined reefs strike predominantly to the east and are sub vertical.
The OK Underground Mine was originally worked in the 1930s, but lay idle until 1980 when the shaft was re-opened by Central Norseman Gold Corporation to mine remnant ore from the Main Lode.
Underground drilling of the east striking tensional Main Lode led to the discovery of the north-west striking O2 Lode.
The Star of Erin Lode was defined more recently, with gold being hosted in a series of shear hosted veins. The gold in the O2 Lode is free milling and typically hosted by a very narrow (0.3 metres average width) laminated quartz veins which are commonly surrounded by up to two metres of predominantly biotite alteration. The OK reefs are among the most nuggety at Norseman. The mine has produced historically at an average grade of 9.1 g/t Au.
The Indicated and Inferred Mineral Resource at the OK Underground Mine currently stands at 355,000 tonnes @ 18.0 g/t Au for 205,000 ounces with the recent drill results demonstrating the excellent scope for further growth through ongoing exploration.