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Pantoro Ltd (ASX:PNR) has embarked on a major 35,000-metre drilling program at its fully-owned Norseman Gold Project in Western Australia. This extensive drill campaign is a pivotal element of the company's broader 85,000-metre growth initiative, initially disclosed to the market on June 19.
Strategic Drilling Campaign
The current drilling efforts, which include both reverse circulation (RC) and diamond drilling techniques, are central to Pantoro’s strategy of expanding its operations at Norseman. The Butterfly area within the Southern Mainfield has been identified as a key focus for surface drilling. This targeted approach reflects Pantoro’s commitment to enhancing its exploration and development activities.
Underground Exploration and Development
In parallel with the surface drilling, preparations for re-entry into the Bullen decline are progressing. Ground support work for this underground development is set to commence in the December quarter. The objective is to drill initial target areas from underground platforms by the June 2025 quarter, further advancing the company's exploration capabilities.
Moreover, drilling platforms at the Scotia mine, which has been under underground development since May 2024, are in place. Underground contractors are expected to begin their work by the end of September, supporting Pantoro’s ongoing expansion efforts.
Growth and Expansion Objectives
Pantoro’s growth strategy aims to significantly boost production by developing at least two additional high-grade underground mines over the next two years. The company targets an increase in production from approximately 100,000 ounces per annum to 200,000 ounces. This goal is to be achieved by transitioning from lower-grade open-pit material to higher-grade underground sources, enhancing the overall grade and efficiency of operations.
The Norseman processing plant, which is currently operating at an annualized rate of 1.2 million tonnes, is expected to manage the anticipated increase in feed grades effectively. The plant’s capacity is deemed sufficient to accommodate the higher-grade ore without necessitating substantial upgrades.
Conclusion
Pantoro's latest drilling initiative at the Norseman Gold Project underscores its strategic focus on expanding its gold mining operations and enhancing resource quality. By advancing both surface and underground exploration efforts, Pantoro aims to significantly increase its production capacity and operational efficiency, positioning itself for continued growth and success in the gold sector.
