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#High Grade Drilling Results
Added 3 months ago
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#High Grade Drilling Results
Added a week ago

27-7-2020:  Panda Discovery Extended with Additional Drilling

Pantoro Limited (ASX:PNR) is pleased to advise that its follow up RC drilling program at the recently discovered Panda Deposit has successfully extended mineralisation to the North and South, with mineralisation open in both directions along strike.

Results from the latest round of drilling include:

  • 2 m @ 12.70 g/t Au.
  • 2 m @ 9.10 g/t Au.
  • 5 m @ 4.65 g/t Au.
  • 3 m @ 9.41 g/t Au.
  • 3 m @ 3.7 g/t Au.
  • 3 m @ 4.12 g/t Au.
  • 3 m @ 3.11g/t Au.

All drilling has been focussed on potential open pit material, and as such the deposit remains open at depth. The deepest hole drilled to date is approximately 150 metres below surface returning 3 m @ 9.41 g/t Au suggesting continued high grades down plunge.

Commenting on the results, Managing Director Paul Cmrlec said:

“Ongoing drilling at Panda has highlighted substantial strike and depth extensions beyond the initial discovery. Mineralisation has now been identified by drilling over a distance of approximately 530 metres and down to approximately 150 metres depth in the north.

"The deposit is shaping up to be another important ore source within the Scotia Mining Centre and further drilling will be undertaken to test the full extent of mineralisation and to define an initial Mineral Resource and Ore Reserve available for mining when operations recommence. Pantoro has extended its drilling programs across multiple zones at Scotia as the real potential of the area has become clear.

"To date Pantoro has only completed exploration drilling outside of our resource development and extension activities at Panda and the Sailfish prospect on Lake Cowan. Both areas have produced outstanding results demonstrating the great potential for ongoing discovery at Norseman.”

--- click on link above for the full announcement ---

[I hold PNR shares]

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#High Au Grades Found
Added 2 weeks ago
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#Company Reports/Presentations
Added 3 weeks ago

15-7-2020:  PNR June 2020 Quarterly Report & Appendix 5B

[I hold PNR shares]

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#High Grade Drilling Results
Last edited 2 months ago

09-June-2020:  Exceptional Results Confirm Scotia as Key Mining Centre

Pantoro Limited (ASX:PNR) is pleased to provide additional drill results from Scotia. These results confirm the significance of Scotia, which will be a key mining centre within Pantoro’s planned restart of operations at the Norseman Gold Project (Pantoro 50%).

The prospectivity of the Scotia Mining Centre has recently been demonstrated by the discovery of the Panda Lode by Pantoro (see ASX Announcement entitled ‘New Discovery Confirmed at Panda’ dated 21 May 2020).

Key Highlights

  • Drilling at Scotia has returned a number of high grade intersections from both outside and inside the current Mineral Resource envelope.
  • Infill drilling around the historic underground workings has delineated extensive additional mineralisation which is not included within the current Mineral Resource Estimate.
  • Recent Panda discovery further enhances the open pit potential of the area.
  • Deeper drilling at Scotia confirms potential for high grade underground mines following the initial open pit phase.

New results from drilling which has been focused on the likely open pit footprint include:

  • 10 m @ 11.60 g/t Au  
  • 9 m @ 12.98 g/t Au
  • 11 m @ 6.27 g/t Au  
  • 4 m @ 11.54 g/t Au
  • 1 m @ 59.2 g/t Au  
  • 4 m @ 9.94 g/t Au
  • 2 m @ 8.70 g/t Au  
  • 7 m @ 4.59 g/t Au    
  • 8 m @ 3.45 g/t Au  
  • 4 m @ 5.21 g/t Au  
  • 5 m @ 4.87 g/t Au  
  • 7 m @ 4.97 g/t Au
  • 1.2 m @ 30.64 g/t Au
  • 2 m @ 7.08 g/t Au

Commenting on the Results Pantoro Managing Director Paul Cmrlec said “The Scotia Mining Centre is shaping up as a very important long term ore source at Norseman. The new Panda discovery has confirmed potential for ongoing discovery in the area, and the multiple zones of high grade mineralisation occurrences suggest that Scotia may ultimately be considered a gold field in its own right. Scotia will continue to be a focus for exploration and resource development in the near term and is a key area for the restart of operations at Norseman.”

About the Scotia Mining Centre

The Scotia Mining Centre is located approximately 25 km south of Norseman and was discovered in 1893. The historic production recorded from the Scotia mine via open pit and underground mining was 811,000 tonnes @ 5.9 g/t Au for 155,000 ounces. Scotia was actively mined from 1987 until 1996.

Scotia The Scotia deposit is currently the largest deposit within the Scotia Mining Centre, and drilling has been focussed on infill and extension of the known mineralisation The current Mineral Resource at Scotia is estimated to contain 1.89 Mt @ 6.28 g/t Au for 382,000 ounces (refer to Appendix 2 and ASX Announcement entitled ‘Strategic Transaction and Capital Raising Presentation’, dated 15 May 2019).

The latest drilling at Scotia continues to  return excellent results and reinforces the importance of the Scotia Resource as part of the planned restart of operations at Norseman. 

--- click on the link above for the rest of this announcement ---

Disclosure:  I hold PNR shares.

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#High Grade Drilling Results
Added 7 days ago

29-7-2020:  Excellent Initial Results from Maybell Mining Centre

Pantoro Limited (ASX:PNR) has recently commenced drilling at the Maybell Mining Centre, the last of the identified phase one start up mining targets.

Initial Results from shallow drilling have been received from the Lord Percy Deposit which is located to the northeast of the main Maybell Deposit on a converging structure.

Results to date are extremely encouraging, highlighting a shallow high-grade lode system. Intercepts from surface to 60 metres depth include:

  • 4 m @ 13.58 g/t Au (gold).
  • 1.10 m @ 13.40 g/t Au.
  • 2 m @ 9.13 g/t Au.
  • 1.70 m @ 9.48 g/t Au.
  • 4 m @ 4.56 g/t Au.
  • 3 m @ 4.40 g/t Au.
  • 4 m @ 7.20 g/t Au.
  • 3 m @ 3.56 g/t Au.
  • 4 m @ 2.61 g/t Au.

The Lord Percy Deposit has limited historical drilling completed on a wide spacing, informing the current Inferred Mineral Resource. Initial drilling has confirmed a shallow dipping parallel lode system, centred around the much smaller historic workings next to the main historic Maybell Deposit.

Pantoro Managing Director Paul Cmrlec said:

“The Maybell Mining Centre is the last of the phase one targets for inclusion in Pantoro’s near term mining plan. Results returned to date from Lord Percy have again met our expectations, highlighting a significant near surface mineralised system for inclusion in our open pit optimisation process.

Commencement of drilling in this area was delayed due to obtaining statutory approvals during the COVID-19 pandemic, however all required approvals have now been received.

Drilling is ongoing at both the Lord Percy and Maybell deposits. The initial focus is to complete the work required for inclusion in the detailed feasibility study which is progressing well.

Both deposits have excellent potential for depth extensions beyond the open pits and additional drilling will be undertaken in due course.”

--- click on link above for the full announcement ---

[I hold PNR shares]

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#Company Reports/Presentations
Added a month ago

22-June-2020:  Investor Update & Progress Presentation

Market like!  PNR up +11.9% today on the back of this update and presentation.  Since their 6.9 cps low on March 23, PNR have risen +240% in 3 months to close at 23.5 cps today.  [I hold PNR shares].

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#Company Reports/Presentations
Added 4 months ago
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#Company Reports/Presentations
Added 4 months ago

15-Apr-2020:  Quarterly Report & Appendix 5B

I have a small position in PNR.  Good drilling results at Wagtail - up to 23.9g/t Au (gold).  Pantoro has maintained its strong balance sheet with a cash and gold balance of $27.4 million at March 31;  they remain debt free.  They are well positioned to fund activities at Norseman as the company becomes unhedged at the end of April.  During the March quarter the impact of hedging was approximately the same as exploration expenditure at Norseman.  Once unhedged, Pantoro is well positioned to take full advantage of the current high gold price. 

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#COVID-19 Operating Update
Added 4 months ago

27-Mar-2020:  COVID-19 Operating Update

Business as usual so far for Pantoro, except that instead of FIFO at Halls Creek, they've arranged local accomodation for their workforce, with the extra costs being partially offset by the savings realised by not having to pay for any flights.

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#High Grade Drilling Results
Added 2 months ago

16-June-2020:  High Grade Results Continue from OK Underground Mine

I hold PNR Shares.  Overnight (during Monday in the US) gold threatened to fall below US$1700 an ounce in a volatile session.  The US dollar rallied early, which saw gold futures drop as low as $1705/oz.  The price has since recovered back to $1733/oz, only a few dollars lower than this time yesterday, after the Federal Reserve announced it would start buying corporate bonds.  US stocks were also volatile, opening lower but finishing 0.8% higher after the Fed announcement.  Our market is set to start on a positive note today after a couple of days of falls.

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#High Grade Drilling Results
Added 3 months ago

23-Apr-2020:  Princess Royal/Slippers Drilling Confirms Multiple Ore Zones

Up to 20.37 grams per tonne Gold.  Nice!!  I hold PNR shares.  The NGP is shaping up nicely.

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#High Grade Drilling Results
Added 4 months ago

17-Apr-2020:  High Grade (Gold) Results from OK Underground Mine Drilling

They're getting some VERY high grades there at the OK mine.  [I hold PNR shares]

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#Company Reports/Presentations
Added 6 months ago

20-Feb-2020:  Pantoro (PNR): RIU Explorers Conference Presentation - February 2020

I do have a small holding in PNR - they are not only explorers and developers, but they are also already gold producers at Halls Creek (100% PNR), and are now developing their 50%-owned Norseman Gold Project (NGP).  Slide 6 shows that they have some of the highest grades of both underground mineral resources and surface (open pit-able) mineral resources of any Australian gold producer, including the big ones.  As long as the geology is friendly and the processing is relatively straightforward, high grades generally translate into lower costs, which means higher profits, so it bodes well for their future.  However, they are very small, so still much higher risk than the bigger companies who have years of production already under their belts.  For that reason, my PNR holding is a lot smaller than my holdings in NST, EVN, SAR and/or SBM.  However, for those with a higher risk appetite, PNR might be worth keeping an eye on.

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