ASX Announcement
26 October 2016
High Grade Drilling Results As Open Pit Mining Gets Underway
Pantoro Limited (ASX:PNR) (Pantoro) is pleased to advise that open pit mining at Nicolsons is advancing well and in accordance with the mine schedule. Mining is underway at the Wagtail North and Rowdies pits with Wagtail South due to commence works early in November.
Mining activities have exposed high grade ore in the Wagtail North Pit, and the first ore will be delivered to the ROM pad in line with the mining schedule before the end of October. The current plan which includes mining of a Probable Ore Reserve of 96,500 tonnes @ 5.55 g/t Au (as detailed in the Pantoro 2016 Annual Report released to the ASX on 23/9/2016), will see mining undertaken over a nine month timeframe. Open pit ore is planned to be blended with underground feed sources at Nicolsons for a period of 17 months, maximising ore availability and blending capability for the foreseeable future.
Grade control drilling within the Wagtail North and South Pit designs has confirmed the presence of very high grade ore zones, with assays rivalling the outstanding results often encountered underground at Nicolsons mine. Results returned to date include:
Wagtail South
WSRC16039 - 5 m @ 28.4 g/t, including 3 m @ 45.6 g/t Au. WSRC16045 - 5 m @ 11.80 g/t, including 2 m @ 27.1 g/t Au. WSRC16046 - 5 m @ 23.8 g/t, including 3 m @ 38.7 g/t Au. WSRC16069 - 6 m @ 26.15 g/t, including 3 m @ 49.4 g/t Au. Wagtail North
WNRC16024 - 5 m @ 10.70g/t, including 2 m @ 25 g/t Au. WNRC16025 - 3 m @ 21 g/t Au, including 2 m @ 30.8 g/t Au. WNRC16026 - 6 m @ 25.60 g/t, including 4 m @ 37.90 g/t Au. WNRC16027 - 7 m @ 22.20 g/t, including 4 m @ 37.6 g/t Au. WNRC16032 - 4 m @ 15.90 g/t Au.
Commenting on the progress at Rowdies and Wagtail, Managing Director Paul Cmrlec said
"Since obtaining final mining approvals for the open pits in September, Pantoro has rapidly engaged its open pit mining plan which will see substantial production benefits from November this year. While we expected some high grade ore to be encountered in the grade control programs, these drill results have again exceeded our expectations. We look forward with anticipation to further testing the depth extensions to these orebodies as we aim to define another underground mine similar to Nicolsons, for commencement following completion of the open pits."
Enquiries
Paul Cmrlec | Managing Director I Ph: +61 8 6263 1110 I Email: [email protected]
Pantoro Limited
ABN 30 003 207 467
t: 08 6263 1110 | e: [email protected] | w: www.pantoro.com.au PO Box 1353 West Perth WA 6872 | 1187 Hay Street, West Perth WA 6005
Figure 1: Nicolsons Pit Location plan showing significant intersections from 2016 drilling program.
Photo: Mining at Wagtail North.
Section A
WNRC16008
WNRC16028
WNRC16009
WNRC16027
WNRC16026
Existing Pit
Pit Design
2m @ 16.43 g/t Au
7m @ 22.2 g/t Au
|
inc 4m @37.6 g/t Au
|
6m @ 25.6 g/t Au
|
inc 4m @ 37.9 g/t Au
|
2250mRL
> 5 g/t Au
> 0.5 g/t Au New drilling Previous drilling Mineralisation
7m @ 2.28 g/t Au inc 1m @ 8.16 g/t Au
1m @ 1.62 g/t Au
0 M 25 M
9900E
9850E
9800E
2200mRL
Figure 2: Section A drilling results beneath existing pit at Wagtail North
Section B
WSRC16046
WSRC16045
WSRC16044
WRC07011
Existing Pit
5m @ 23.8 g/t Au inc 3m @ 38.7 g/t Au
2275mRL
5m @ 11.8 g/t Au inc 2m @ 27.1 g/t Au
3m @ 7 g/t Au
2250mRL
2m @ 17.1 g/t Au
Pit Design
> 5 g/t Au
> 0.5 g/t Au
2225mRL
New drilling
Previous drilling Mineralisation
0 M 25 M
9850E
9825E
9800E
9775E
2200mRL
Figure 3: Section B drilling results beneath existing pit at Wagtail South