1 June 2016
Very High Grade Diamond Drilling Results Support Potential for Further Upgrades at NicolsonsPantoro Limited (ASX:PNR) (Pantoro) is pleased to advise that it has received high grade drilling results from the Anderson (Northern Zone) and Johnston (Southern Zone) Lodes at Nicolsons Mine near Halls Creek.
Diamond drilling continues to overcallNew results have been received from the ongoing underground drilling program at Nicolsons. Best Results include:
NUD16010 - 2.2 m @ 39.8 g/t from 107.3 m including 0.7 m @ 95.2 g/t from 107.3 m (Anderson Lode).
NUD16015 - 1.3 m @ 41.8 g/t from 147.4 m including 0.7 m @ 60.8 g/t from 148 m (Johnston Lode).
NUD16017 - 1.5 m @ 29.6 g/t from 161 m (Johnston Lode).
All three of the high grade results represent significant overcalls to the current Mineral Resource and Ore Reserve model estimates in the locations drilled. NUD16010 and NUD16017 were testing the extremities of the current Ore Reserve, while NUD16015 is well outside of the current Ore Reserve. The holes demonstrate the potential for continued Mineral Resource and Ore Reserve growth outside of the recently re-modelled Hall and Mother Lodes, and provide upside to the current mine plan.
200 mRL
NUD16017 1.5m @ 29.58 g/t Au
NUD16015 1.3m @ 41.83 g/t Au
NUD16010 2.2m @ 39.84 g/t Au
Mineralisation
Current Drill program
0 mRL
Host Sequence Mining Reserve
19200 mN
Plus 10g x m Intervals Sub 10g x m Intervals
0 M 50 M 100 M 150 M 200 M
20000 mN
19800 mN
19600 mN
19400 mN
19000 mN
South North
Figure 1 - Schematic Long section
Pantoro Limited
ABN 30 003 207 467
t: 08 9215 6005 | f: 08 9220 5757 | e: admin@pantoro.com.au | w: www.pantoro.com.au PO Box 1353 West Perth WA 6872 | Level 3, 18-32 Parliament Place West Perth WA 6005
Hole NUD16015 was drilled outside of the Ore Reserve in the zone between the upper and lower sections of the Johnston Lode at the southern end of the mine. The result of 1.3 m @ 41.8 g/t demonstrates that the area between the upper and lower sections of the defined Johnston Lode is mineralised. The area had not been previoulsy drilled from surface due to the drilling shadow created by the location of the Nicolsons Mine open pit. Pantoro plans to fully drill the largely untested zone to enable estimation of a revised Mineral Resource for the Johnston Lode in the near term. True width of the ore is approximately 0.8 m.
Hole NUD0017 was drilled at the Northern end of the Johnston Lode where the Ore Reserve blocks were economically marginal. The new result of 1.5 m @ 29.6 g/t compares favourably with the current Ore Reserve estimate grade which is only 4.2 g/t at the intersection point. True with of the ore is approximately 0.9 m.
Hole NUD16010 was designed to twin an existing RC hole to test grade comparison between diamond and RC drilling at the Northern extent of the current Anderson Lode Ore Reserve boundary. Results of 2.2 m @ 39.8 g/t compared favourably with RC twin results of 3 m @ 15 g/t and reserve grade of 13.3 g/t. True width of the ore is approximately 1.2 m.
Figure 2 - Drill core from hole NUD16010
Commenting on the results, Managing Director Paul Cmrlec said:
"Results at Nicolsons continue to impress, with the latest drill returns again revealing very high grades in areas that were either outside of the current Ore Reserves or in lower grades right on the margins or the modelled Ore Reserve. We look forward to developing these areas to reveal their true potential, and will update the market as further results become available."
End
EnquiriesPaul Cmrlec - Managing Director I Ph: +61 8 9215 6005 I Email: admin@pantoro.com.au
Halls Creek Tenements - Mineral Reporting
The information in this report that relates to exploration and Mineral Resources is based on information compiled by Mr. Scott Huffadine (B.Sc. (Hons)) MAusIMM who is a full time employee of Pantoro Limited. Mr. Huffadine has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as described by the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Huffadine consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Halls Creek Tenements - Reserve Reporting
The information in this report that relates to Ore Reserves is based on information compiled by Mr. Paul Cmrlec (B. Eng (Mining) (Hons)), MAusIMM who is the Managing Director of Pacific Niugini Limited. Mr. Cmrlec has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as described by the 2012 Edition of the"Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Cmrlec consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
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Appendix 1 - TABLE OF DRILL RESULTSTarget | Hole No | Easting (Local) | Northing (Local) | RL (Local) | Dip (°) | Azimuth (°) | End of Hole Depth (m) | From (m) | Downhole Intersection (m) | Au g/t (uncut) | True Width (m) |
Anderson | NUD16010 | 10046.5 | 19693 | 2185 | -26 | 037 | 138 | 107.3 | 2.2 | 39.84 | 1.2 |
Johnston | NUD16015 | 10091.5 | 19421 | 2220 | -41 | 208 | 173.4 | 147.4 | 1.3 | 41.83 | 0.8 |
Johnston | NUD16017 | 10091.5 | 19421 | 2220 | -21 | 212.5 | 169.5 | 161 | 1.5 | 29.58 | 0.9 |
Potential HW Structurres | NUD16005 | 10138 | 19654 | 2187 | 0 | 159 | 68.6 | 64 | 0.2 | 0.82 | 0.2 |
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APPENDIX 2 - JORC 2012 - TABLE 1 - HALLS CREEK SECTION 1: SAMPLING TECHNIQUES AND DATA - HALLS CREEKCriteria | JORC Code explanation | Commentary |
Sampling techniques |
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