Pantoro Limited Announces Production Results for the Quarter Ended September 2018; Announces Exploration Update; Provides Production Guidance
The company is expected AISC to be in the range of AUD 1,850 to AUD 1,930 per ounce.
The company announced that Drilling below and to the north of the 2005 level completed during August and September has revealed high grade intercepts at depth in the northern part of the current workings, demonstrating the continuity of high grade mineralization at depth. Drilling supports a shallow plunge to the north with high grades up to 50 meters north and up to 80 meters below the 2005 Level and remains open, supporting the potential for extension of the deposit. The best drilling results below the 2005 Level completed to date include: 1.3 m @ 59.2 g/t Au; 2.18 m @ 56.03 g/t Au; 6.86 m @ 13.9 g/t Au; 3.6 m @ 10.67 g/t Au; 2.12 m @ 11.84 g/t Au; 0.8 m @ 34.8 g/t Au; 1.2 m @ 15.54 g/t Au; and 5.5 m @14.68 g/t Au. Mine planning at depth is underway to assess transition of capital mine infrastructure to the high grade areas identified at depth. All major capital projects were substantially completed during the quarter, with the exception of development of the Wagtail Underground Mine which is now being progressed on a 24 hour per day basis. Total site capital expenditure reduced throughout the quarter and is expected to remain lower during the coming quarter. Wagtail development is ongoing with first ore expected to be developed during the December 2018 quarter as planned. Additional drilling below the current Rowdies Mineral Resource continues to demonstrate high grade mineralization at depth within the Wagtail ore system. High grade near-surface drilling results returned from Nicolsons South, between Nicolsons and Rowdies open pits. Grants Creek drilling commenced early in September 2018. The first phase of drilling is ongoing with initial assays pending.