Pantoro drilling confirms ore-grade gold mineralisation at three new prospects

Pantoro Ltd (ASX:PNR) (FRA:RKN) has received first-pass drilling results at the Halls Creek Project in Western Australia’s East Kimberley region, all returning ore-grade mineralisation from three new prospects. The company has continued to advance its growth strategy within its consolidated Halls Creek regional tenure, which now covers over 1,000 square kilometres and encompasses three of the five significant historical mining centres in the region. A short but highly successful drilling program was completed in mid-December 2020 at Nicolsons, Grants Creek and Mary River Project areas. The results highlight the potential for discovery of new ore bodies in previously untested targets and extend the current mineralisation at the Mary River Project. There are multiple targets which remain to be tested within the exploration package in addition to the follow up drilling at these prospects. It is anticipated that drilling will recommence after the current wet season in April-May. “Potential for ongoing discovery” Managing director Paul Cmrlec said: “These new results highlight the potential for ongoing discovery within our Halls Creek Project. “Nicolson’s mine has now been in operation for six years, and Pantoro has consistently replaced and grown mineral resources and ore reserves. “Unfortunately, the 2020 field season was impacted by restrictions due to the COVID-19 pandemic, however the results from the short program completed demonstrate how little exploration was completed in the region prior to Pantoro’s involvement. “We look forward to expanding the drilling footprint at these exciting new prospects following the current wet season.” Results from previously untested targets Notable results from the Slattery (Nicholsons) prospect include: 2 metres at 6.80 g/t gold; 2 metres at 6.06 g/t; 2 metres at 4.24 g/t; and 2 metres at 3.46 g/t. Given the positive results follow-up drilling is planned in the 2021 program which will also test for potential blind N-S oriented lodes related to the splay orientation as seen elsewhere in the main Nicolsons Find Shear Zone (NFZ). At Perseverance East (Grants Creek) the company intersected 8 metres at 3.94 g/t gold, including 6 metres at 5 g/t and 11 metres at 2.42 g/t. Drilling in 2021 will focus on Perseverance East and continue to assess the other identified targets with the areas of historic activity and regional exploration and mapping on the broader tenement package. Mary River A short 16-hole 1,300 metre program was completed at the Reform prospect, designed to continue to extend the strike of the mineralised shear to the South. Significant results include 7 metres at 1.22 g/t gold, 8 metres at 1.06 g/t, 5 metres at 0.99 g/t and 3 metres at 1.11 g/t. The program will target the northern end of the Shear Zone at Blue Bar, where groundwork around extensive historic alluvial and hard rock workings have confirmed similarities to the Reform prospect geology and gold anomalism from sampling around old workings. This EIS drilling will include diamond and RC and are planned for the 2021 field season. Additional extensional programs at the Reform prospect will also be undertaken.