Pantoro achieves practical completion at Norseman Gold Project within budget and timeline
Proactive Investors
Published Sep 06, 2022 10:23
Pantoro achieves practical completion at Norseman Gold Project within budget and timeline
Pantoro Ltd (ASX:PNR) has achieved practical completion of construction of its 50%-owned Norseman Gold Project in Western Australia within the projected budget and on time.
The Norseman Project is within the Eastern Goldfields of Western Australia, at the southern end of the productive Norseman-Wiluna greenstone belt, and holds a mineral resource of 4.7 million ounces of gold with an ore reserve of 900,000 ounces.
Pantoro managing director Paul Cmrlec said: “Achieving practical completion on time, and on budget is an outstanding result considering the recent cost increases and delays experienced across the wider industry.
"I thank and congratulate the team at Pantoro for their substantial efforts to stay on track and hit the objective. I also commend the performance of (EPC contractor) GR Engineering in delivering the project.”
Ore commissioning at the new 1 million tonne per annum processing plant is underway.
About 140,000 tonnes of ore is available for milling from ongoing activities at the project’s Scotia Mining Centre and OK Underground Mine.
Feed from primary crusher.
Underdeveloped
The Norseman Gold Project is about 725 kilometres east of Perth. Many of its mineral resources defined to-date have only been tested to shallow depths and remain open along strike and at depth.
Numerous anomalies and mineralisation occurrences have yet to be adequately tested, although a number of highly prospective targets have already been identified.
The project areas have produced more than 5.5 million ounces of gold since operations began in 1935, and are one of, if not the highest grade fields within the Yilgarn Craton.
Pantoro has focused initial project planning on six initial mining areas containing multiple deposits which are suitable for open pit and underground mining.
Read more on Proactive Investors AU
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