Pantoro Ltd highlights PGE potential at Norseman with high quality shallow hits

Pantoro Ltd (ASX:PNR) has delivered shallow, high-grade platinum group element (PGE) mineralization highlighting the PGE potential of its Monarch prospect located within the Norseman Gold project in Western Australia.

The company’s shallow core drill program returned PGE anomalies, including the high-grade hits on two southern reconnaissance lines, yielding results that included:

  • 27 meters at 2.01 g/t (3E) (1.54 g/t palladium, 0.41 g/t platinum, 0.05 g/t gold, 0.13% nickel and 0.10% copper) on 28 meters, including 10 meters at 3.19 g/t (3E) (2.48 g/t palladium, 0.65 g/t platinum, 0.06 g/t gold, 0.11% nickel and 0.12 % copper) from 39 meters; and
  • 17 meters at 1.62 g/t (3E) (1.24 g/t palladium, 0.35 g/t platinum, 0.03 g/t gold, 0.11% nickel and 0.02% copper) at from 33 meters, including 5 meters at 4 g/t (3E) (3.08 g/t palladium, 0.88 g/t platinum, 0.09 g/t gold, 0.09% nickel and 0.03 % copper) from 33 meters.

Following the acquisition and assumption of management of the Norseman project in 2019, Pantoro implemented a clear strategy for the development of its gold assets and quickly executed its development plan, with construction expected to be completed. during the September term.

Looking ahead, the company has focused initial project planning on six initial mining areas at Norseman containing several deposits that are amenable to both surface and underground mining.

“Immense market interest”

Pantoro Managing Director Paul Cmrlec said, “At present, Pantoro, as manager of the Norseman Joint Venture, is solely focused on the successful completion of construction and the transition to profitable gold operations.

“We have recently demonstrated the value that can be derived from other products on the mandate with the potentially high value lithium farm and agreed joint venture with Mineral Resources Limited.

“Pantoro intends to pursue the value of other commodities, including PGEs and nickel, as activities around gold projects permit.

“Given the immense market interest in PGEs and the large, 100% Pantoro-owned Lamboo PGE project near Halls Creek which is already producing strong results, additional exploration efforts will be directed towards the Mission Sill PGEs. short term.”

PGE at Monarch

The Monarch prospect is a stratified mafic-ultramafic package where PGE mineralization is hosted in a nickel-depleted unit that is part of this ultramafic package located on its eastern margin.

Work on the PGE prospect at Monarch was undertaken in 2005-2006 and included initial air core reconnaissance followed by ground electromagnetic surveys and diamond drilling.

Aircore drilling has identified areas of anomalous PGE mineralization, including high-grade hits on two southern reconnaissance lines.

Deep diamond drilling was completed below these strikes, however, examination of the ground EM indicates shallow dipping conductors, which is consistent with the mineralized framework presented in recent Galileo Mining drilling and suggests that this drilling deeper under the high grade results may have been ineffective.

The prospect is considered open with shallow drilling that likely did not intersect a shallow plunging mineralized zone in either direction.

Provisional plan

Pantoro has focused initial project planning on six initial mining areas containing several deposits that are amenable to both surface and underground mining.

A phase one DFS was completed in October 2020 detailing an initial seven-year mine plan with a centralized processing facility and a combination of open pit and underground mining producing approximately 108,000 ounces per year.

Approvals for the project were received in October 2021 and construction of the project is underway with first production scheduled for the September 2022 quarter.