ASX Announcement
10 January 2022
onlySignificant Lamboo PGE strike extension
Pantoro Limited (ASX:PNR) (Pantoro) is pleased to advise of strong PGE, nickel and coblat assays received from drilling undertaken approximately three kilometres north of existing results on the Lamboo ultramafic basal contact, at the Halls Creek Project (PNR 100%).
Highlights
The new drilling results include nickel and cobalt assays approximately three kilometres north of previous drilling on the West Limb of the Lamboo ultramafic basic contact and include:
use• 30 m @ 1.03 g/t Pt +Pd +Au (3E); 0.54% Ni and 0.033% Co from 3 m.
Results confirm a strong correlation between PGE and Ni + Co mineralisation. The correlation between PGE and Ni + Co has been noted in previous holes where these metals have been assayed for.
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Lamboo PGEs
The Lamboo PGE project forms part of Pantoro's Halls Creek operations, and is only five kilometres south of Nicolsons gold mine and processing plant, allowing access to substantial mine infrastructure and road networks.
Pantoro announced discovery of a large PGE bearing ultramafic system during September 2021, with follow up drilling since that time confirming that mineralisation is widespread within the basal contact of the unit. Nickel and Cobalt are noted to be coincident with the PGE mineralisation.
Drilling to date has identified mineralisation over approximately two kilometres of strike, with the remainder of the only+20 kilometres still to be tested. Recent reconnaissance drilling has confirmed mineralisation approximately three
kilometres north of the tested zones.
Mineralisation is noted to be consistent over large drill intervals commencing from surface, Mineralisation widths of up to 100 metres have been encountered to date, and Pantoro considers that there is strong potential for a large, bulk tonnage PGE resource to be defined in the near term.
Previously announced results from recent drilling by Pantoro include:
• 100 m @ 1.10 g/t Pt +Pd +Au (3E) from surface inc. 66 m@ 1.34 g/t Pt +Pd +Au(3E) from surface. use• 120 m @ 0.96 g/t Pt +Pd +Au (3E) from surface inc. 31 m@ 1.24 g/t Pt +Pd +Au(3E) from 89 metres.
• 118 m @ 0.89 g/t Pt +Pd +Au (3E) from surface inc. 46 m@ 0.96 g/t Pt +Pd +Au(3E) from 10 metres.
• 46 m @ 1.11 g/t Pt +Pd +Au (3E) from surface.
• 22 m @ 1.11 g/t Pt +Pd +Au (3E) from surface.
• 31 m @ 0.90 g/t Pt +Pd +Au (3E) from 36 metres.
• 37 m @ 0.90 g/t Pt +Pd +Au (3E) from 14 metres.
• 71 m @ 0.59 g/t Pt +Pd +Au (3E) from 120 metres.
• 90 m @ 0.69 g/t Pt + Pd + Au (3E) from surface.
Refer to ASX announcement "Drilling Confirms Large Scale Lamboo PGE Deposit" dated 15 November 2021 for full details.
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M80/503
E80/2601
For
323000 mE
1KM
325000 mE
327000 mE
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Section A
only | ||||||||||||||||||||
30m @ 1.03g/t | (3E), | |||||||||||||||||||
OPEN | Pt + Pd + Au | |||||||||||||||||||
0.54% Ni, 0.033% Co | ||||||||||||||||||||
use | ||||||||||||||||||||
350mRL | ||||||||||||||||||||
personal | ||||||||||||||||||||
Pt+Pd+Au (3E) > 0.5 g/t, | ||||||||||||||||||||
Ni%, Co% | ||||||||||||||||||||
Pantoro Hole | ||||||||||||||||||||
Lamboo Intrusion - | ||||||||||||||||||||
Ultramafic rock | ||||||||||||||||||||
0 M | 25 M | |||||||||||||||||||
324800E | 324850E | |||||||||||||||||||
300mRL | ||||||||||||||||||||
Further Work
Assays for nickel, cobalt and the other PGEs (osmium, rhodium, ruthenium and iridium) from the recent drilling is currently being completed and results will be released once returned.
Pantoro plans to undertake on ground contact mapping and sampling over the wet season in preparation for a large Forstep out drill program designed to test an additional 10 km of strike immediately after the end of the wet season in early 2022. Pantoro expects to undertake approximately 20,000 metres of drilling commencing immediately after
the wet season subsides.
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Regional Potential
Within Pantoro's broader regional tenement package at the Halls Creek Project of 1,000 km2, the northern Grants Creek tenements host a large area of ultramafics, including a number of intrusives of the McIntosh suite which are associated with Ni + Cu and PGE mineralisation elsewhere in the region.
One of these zones within Pantoro's tenure is the Big Ben intrusive which has been interpreted to be the faulted offset of the Panton Sill which has a current Mineral Resource of 2.4 Moz @ 5.2 g/t PGM & Au. Big Ben has previously returned anomalous palladium and platinum rock chips from historic exploration work conducted by Thundelarra. onlyInitial on ground evaluation of these prospects was completed during November 2021 with surface sample results
outstanding.
* Reported by Future Metals (ASX:FME) on 22 June 2021 in a release titled 'Presentation-Panton PGM Project June 2021 (Appendix 1).
Enquiries
Paul Cmrlec | Managing Director I Ph: +61 8 6263 1110 I Email: admin@pantoro.com.au useThis announcement was authorised for release by Paul Cmrlec, Managing Director.
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Appendix 1 - Table of Drill Results
Hole ID | Northing | Easting | RL | Dip | Azimuth | End of Hole | Downhole | Downhole | Intersection | Pt+Pd+Au | Pt g/t | Pd g/t | Au g/t | Ni % | Co % | |
(Degrees) | (Degrees) | Depth (m) | From (m) | To (m) | (m) | g/t (3E) | ||||||||||
BBRC21001 | 7960730 | 324784 | 400 | -60 | 307.47 | 54 | 3 | 33 | 30 | 1.03 | 0.48 | 0.52 | 0.03 | 0.54 | 0.033 | |
BBRC21002 | 7960707 | 324816 | 400 | -60 | 306.39 | 102 | 57 | 58 | 1 | 0.74 | 0.10 | 0.59 | 0.05 | 0.35 | 0.014 | |
BBRC21002 | 7960707 | 324816 | 400 | -60 | 306.39 | 102 | 84 | 85 | 1 | 0.55 | 0.34 | 0.20 | 0.01 | 0.17 | 0.010 | |
useonly | 7960707 | 324816 | 400 | -60 | 306.39 | 102 | 99 | 101 | 2 | 0.66 | 0.29 | 0.33 | 0.03 | 0.26 | 0.009 | |
BBRC21002 | ||||||||||||||||
BBRC21003 | 7960684 | 324849 | 400 | -61 | 306.34 | 150 | NSA |
Note: Drilling is calculated using a 0.5 g/t (3E) cut-off and 3 m of internal dilution.
personalr | Appendix 1: Page 5 |
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Pantoro Ltd. published this content on 09 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 January 2022 22:27:06 UTC.