West Australian gold producer Pantoro Ltd (ASX:PNR, OTC:PNTOF) has kicked off an extensive 35,000-metre surface drill campaign at its 100%-owned Norseman Gold Project.
Broader growth strategy
This drilling, a combination of reverse circulation (RC) and diamond methods, is part of a broader 85,000-metre growth program first announced to the markets on June 19.
The company’s growth strategy is focused on expanding its operations at Norseman, with an emphasis on the Butterfly area in the Southern Mainfield as a priority for surface drilling.
Alongside this, preparations for re-entry into the Bullen decline are well underway.
Ground support work is scheduled to begin in the December quarter, with plans to drill initial target areas from underground platforms by the June 2025 quarter.
Drill platforms are also ready at the Scotia mine, which began underground development in May of this year, with underground contractors expected to arrive by the end of September.
Expansion of operations
The mine is a key component of Pantoro's strategy to expand its operations and the current drilling aims to explore potential underground targets.
Pantoro’s broader growth ambitions include developing at least two additional high-grade underground mines over the next two years.
The company aims to increase production from the current target of some 100,000 ounces per annum to 200,000 ounces, replacing lower-grade open-pit material with higher-grade underground sources.
The Norseman processing plant, operating at an annualised rate of 1.2 million tonnes, is expected to handle the anticipated increase in feed grades without requiring significant upgrades.