Pantoro Unveils Bonanza Gold Hits in Southern Mainfield Drilling
Pantoro Limited reports exceptional high-grade gold intersections from initial drilling in the Southern Mainfield of its Norseman Gold Project, reinforcing its strategy to expand underground mining operations.
- Bonanza-grade intercept of 3m @ 485.43 g/t Au including 1m @ 1,420 g/t Au in Mararoa Reef
- High-grade results across multiple lodes: Royal Standard Reef, Pascoe's Cross Link, Butterfly NW structures
- Drilling targets unmined southern extensions accessible via existing Viking Decline infrastructure
- Ongoing diamond drilling with 60% of phase one completed, supporting medium-term growth plans
- Norseman Gold Project holds 4.8 million ounces in resources and aims to double underground production
Exploration Breakthrough in Southern Mainfield
Pantoro Limited (ASX: PNR) has delivered a strong start to its growth program at the Norseman Gold Project with impressive initial results from exploration drilling in the Southern Mainfield's Butterfly area. The company’s focus on unlocking high-grade gold mineralisation in this historically rich region is beginning to pay dividends, with multiple lodes showing significant gold intersections.
The standout result comes from the Mararoa Reef, where drilling intersected a remarkable 3 metres grading 485.43 grams per tonne (g/t) gold, including an extraordinary 1 metre at 1,420 g/t. This bonanza-grade hit underscores the potential for high-value underground mining in areas previously unmined or underexplored.
Multiple High-Grade Targets Confirmed
Beyond Mararoa, other key structures such as the Royal Standard Reef, Pascoe's Cross Link, and Butterfly NW structures have returned encouraging grades ranging from 5 to over 40 g/t gold over various intervals. These results validate Pantoro’s strategy to develop at least two additional underground mines within the Southern Mainfield, leveraging existing infrastructure like the Viking Decline for efficient access.
Drilling to date has focused on the southern extensions of known reefs, areas historically less mined but now showing robust mineralisation. The program combines reverse circulation and diamond drilling techniques, with over 5,000 metres of diamond drilling completed and approximately 60% of the first phase of drilling done. This ongoing work aims to refine geological understanding and expand the resource base.
Strategic Growth and Resource Potential
The Norseman Gold Project is one of Western Australia’s highest-grade goldfields, with a current total mineral resource of 4.8 million ounces and ore reserves nearing 900,000 ounces. Pantoro’s growth strategy, announced in mid-2024, targets scaling underground production from around 100,000 ounces per annum to over 200,000 ounces, positioning the company for significant expansion.
Managing Director Paul Cmrlec emphasized the importance of these results, noting that the accessible nature of these lodes via existing declines provides a clear pathway to future production. He expressed confidence that further drilling will continue to reveal the scale and quality of the Southern Mainfield opportunity, supporting Pantoro’s long-term vision for Norseman.
Looking Ahead
With exploration drilling ongoing and high-grade intersections confirmed, Pantoro is advancing toward unlocking new underground mining centres. The company’s methodical approach to exploration and development, combined with a strong resource base and infrastructure, sets the stage for a transformative phase in its Norseman operations.
Investors and analysts will be watching closely as additional drilling results emerge, potentially reshaping Pantoro’s production profile and market positioning in the competitive gold mining sector.
Bottom Line?
Pantoro’s Southern Mainfield drilling signals a promising new chapter in its Norseman growth story, with high-grade gold intersections paving the way for expanded underground mining.
Questions in the middle?
- How will ongoing drilling results influence Pantoro’s production timeline and capital expenditure?
- What are the potential challenges in converting these high-grade intersections into economically viable mining operations?
- Could these exploration successes attract strategic partnerships or impact Pantoro’s market valuation?
