Announcement Date: 2022-08-01
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Pantoro Ltd.
Project name: Norseman
Location: Australia
Commodities: Gold
Highlight: Updated Resource and Reserve Estimates for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Pantoro Limited (ASX:PNR) (Pantoro) is pleased to announce an update to the Mineral Resource and Ore Reserve at the Green Lantern deposit, part of the Scotia Mining Centre at the Norseman Project (PNR 50%). Green Lantern lies approximately 270 metres to the south east of the Scotia Open Pit, and is open at depth and along strike to the south. The southernmost drill line completed to date is typical of the Green Lantern deposit generally with no indication that the system is weakening along strike. The current drilling, which is designed to achieve spacing suitable for Ore Reserve calculation (nominally 25m x 25m), has continued to increase resource confidence infilling multiple lodes, and further refining understanding of the controls on mineralisation. The updated Green Lantern block model was utilised in conjunction with updated costs using the current contract rates and diesel price to confirm open pit economics. The Green Lantern open pit has a strike length of approximately 1,150 metres, and a stripping ratio of 8:1. The Ore Reserve consists of 3.3 Mt @ 1.5 g/t for 160,000 ounces Au of run of mine material, and an additional 1.0 Mt @ 0.8 g/t for 26,000 ounces Au of additional low grade material.
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