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Highlights
- Pantoro (PNR) begins rehabilitation of Bullen decline to enable underground drilling.
- Historical high-grade mineralisation identified at the Norseman Gold Project.
- New underground works contract awarded to RedPath Australia.
Pantoro (ASX:PNR), a gold producer based in Western Australia, is advancing with its rehabilitation of the Bullen decline, marking a significant milestone in its journey toward underground drilling in the Mainfield at the highly prolific Norseman Gold Project. This critical work is expected to unlock further exploration potential as the underground drilling program is set to commence in March 2025.
The company's 100% owned Norseman Gold Project, situated in the Eastern Goldfields region, is among the highest-grade goldfields in the Yilgarn Craton, strategically located 725km east of Perth and 200km south of Kalgoorlie. Since taking on the project in 2019, Pantoro has achieved major milestones including the construction of a new gold processing plant with a capacity of 1.2 million tonnes per annum, significant reverse circulation and diamond drilling, and a clear commitment to increasing its resource base, which now holds 958,000 ounces of ore reserves.
The rehabilitation work for the Bullen decline, which began in December, is proceeding efficiently with around 250 meters of progress completed. Pantoro reports that ground conditions are excellent, with minimal work required aside from the installation of new mesh, rockbolts, and the re-establishment of services that align with the latest industry standards. These works are integral in preparing the site for the next stage of the exploration, namely the underground drilling that will target high-grade mineralisation zones.
This work is being done in collaboration with RedPath Australia, the company entrusted with the underground development efforts. RedPath will also manage operations at the Norseman Gold Project in synergy with its ongoing Scotia underground mining contract, ensuring efficient progress and delivery. Pantoro values this partnership due to its alignment with the broader goals of the project.
Paul Cmrlec, the Managing Director at Pantoro, has pointed out that Norseman's Mainfield has historically contributed to over half of the six million ounces of gold extracted from the region. The Mainfield is known for its shallow deposits, but also hosts high-grade mineralisation that was historically developed on a small scale. With large sections of this orebody still largely unmined, Pantoro remains confident in its exploration potential and looks forward to further success as the drilling program begins.
Pantoro's commitment to exploring and expanding the Norseman Gold Project underscores its strong position in Western Australia's gold sector, as the company continues to move toward significant growth in the near future.
