Pantoro Limited (ASX:PNR) has received promising results from the Phase 2 exploration drilling programme targeting the high-grade Mainfield reef system at the Norseman Gold Project in Western Australia.
Key Highlights
• The Phase 2 drilling targeted the Mainfield South area, including previously untested NW structures, remnant ore blocks on the Mararoa Reef known as Butterfly south and the Royal Standard reef.
• Results have confirmed the presence of high-grade mineralization in three previously untested NW oriented structures.
• Drilling currently defines indicates a strike extent of approximately 150m on all three structures, with drill intersections to a depth of 417m below surface in one lode. The mineralization remains open in all directions.
• Results returned from the NW structures include:
o 6 m @31.0 g/t Au, including 2m @81.50g/t Au.
o 2m @20.66g/t Au.
o 0.64m @91.62g/t Au.
o 5.0m @5.67g/t Au.
o 2.0m @6.96g/t Au.
o 1.0m @58.60g/t Au.
o 2.0m @12.43g/t Au.
• Results returned from the Royal Standard Reef include:
o 1.63m @11.4g/t Au.
o 2.0m @11.69g/t Au.
o 0.63m @16.2g/t Au.
• The mineralization in the Mainfield South is capable of being accessed from the historic Viking Decline and utilize utilizing older existing ventilation rise infrastructure.
• The Mainfield reefs have produced approximately three million ounces historically with grades in excess of 11g/t Au.
“Mineralization identified proximal to the historic Viking decline is shaping up with potential for an additional high grade underground mine once sufficient drilling has been completed,” Managing Director, Paul Cmrlec, said.
“Work by Pantoro to date has identified high grade mineralization on the Mararoa Reef, the Royal Standard Reef, and new North West trending structures detailed in this announcement. With several potential orebodies that could be accessed from the single decline position the area has potential to be an important high-grade ore source in the coming years.”
NW Structures
The NW structures were initially identified amongst a myriad of potential targets focussed on the main structural controls on the historic producing reefs within the Mainfield mining centre. The targeted NW structures are of a similar orientation to the O2 lode that holds the majority of the current OK mine Ore Reserve. The O2 lode was a significant ounce contributor to historic production from the nearby OK mine.
The drilling to date has identified three stacked NW striking reefs over approximately 150m of strike, and to a depth of 417m below surface dipping at around 65 degrees to the south west. The mineralization remains open in all directions. The reefs appear to be stacked and repeat on approximately 40m intervals across strike. There are indications there could be up to five stacked reefs, to be confirmed by future drilling.
Royal Standard Reef
The Royal Standard Reef, a south-dipping linking structure located in the footwall of the Norseman Reef, is at the southern end of the historically mined Viking ore shoot. The Royal Standard Reef was mined from 1988, using a mechanized decline access from the Viking mine. Production to the end of June 1992 was 66,851t at an average grade of 10.77g/t Au according to historical records.
A hanging-wall reef sub-parallel to the Royal Standard Reef, 150m to the south has also been identified in historic and recent drilling.
A total of six holes have been completed, including three pre-collars with diamond core tails which targeted both reefs.
About the Norseman Project
Pantoro Limited has a 50% interest in the Norseman Project, is the manager of the unincorporated joint venture, and is responsible for defining and implementing work programs, and the day to day management of the operation. On 13 February 2023, Pantoro announced an agreed merger with Tulla Resources Plc, the 50% partner at Norseman. Subject to approval, the merger is expected to be completed in late June 2023, after which Pantoro will be the 100% owner of the Norseman Project.
Pantoro has completed over 300,000m of RC and diamond drilling, defined Ore Reserves of over 970,000oz, completed construction of a new one MTPA gold processing plant and recommenced production. The current Mineral Resource is 4.7Moz of gold. Open pit and underground mining is underway.
For further information please visit: https://www.pantoro.com.au/
