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Pantoro Ltd.
Summary
| Project: | Norseman | |
|---|---|---|
| Deposit: | Gladstone-Everlasting | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/25/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-11-2019: Pantoro Ltd. announces an Exploration/Drilling Update report for its Gladstone-Everlasting deposit at the Norseman project. Drilling results incl. 9m @ 11.16g/t Au from 68m. Pantoro Limited (ASX:PNR) (Pantoro) is pleased to provide initial dri | |
| Resources: | (Resource): 2.7Mt @ 2.9g/t Au at Gladstone Everlasting | |
| CP/QP: | [Overall Report]: Scott Huffadine (Internal) | |
| ABSTRACT: | Pantoro Limited (ASX:PNR) (Pantoro) is pleased to provide initial drilling results from the Gladstone-Everlasting deposit (Gladstone) at the Norseman Gold Project (50% Pantoro). Pantoro has been drilling at Gladstone since September 2019 with approximately 5,500 metres of the planed 8,000 metre RC and Diamond drilling program completed to date. Drilling is targeting infill and extension of both high and lower grade zones of the current Mineral Resource to approximately 120 metres below surface. Commenting on the results, Managing Director Paul Cmrlec said “Drilling has progressed as expected at Norseman and these latest results from Gladstone-Everlasting again highlight the high quality near term production opportunities already existing within the project. To date, we have released results from Princess Royal/Slippers, Daisy South and now Gladstone Everlasting. All areas tested to date have met or exceeded our expectations. Gladstone Everlasting lies approximately 7 km east of the current Norseman processing facility. The deposit was last mined in two shallow pits thirteen years ago at a grade of 4.60 g/t Au and an average gold price of approximately A$600/oz. The Gladstone/Everlasting Prospect is developed in a NNW to NW striking, shallow west dipping shear zone developed in basalt and dolerite of the Penneshaw Formation. A 12-25 metre thick gabbro sill is present within and in the footwall of the Gladstone Shear Zone in the southern part of the prospect. Mineralisation is associated with quartz veining within the shear zone. The current Mineral Resource at Gladstone Everlasting is approximately 1.5 km in length and is estimated to contain approximately 2.7 Mt @ 2.9 g/t for 250 Koz (refer to ASX release on 15/5/2019 titled Strategic Transaction and Capital Raising Presentation). | |
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