Perth, March 2025 – Pantoro Limited (ASX: PNR) has reported positive first-pass drilling results at the Polar Bear Peninsula, part of its 100%-owned Norseman Gold Project in Western Australia. Initial exploration at the Hinemoa Fault has confirmed high-grade mineralisation, reinforcing the region’s strong potential for open-pit and underground mining.
Key Drill Results: High-Grade Gold at Shallow Depths
The initial reverse circulation (RC) drilling campaign covered one kilometre of strike, targeting a historic line of workings along Hinemoa. The results have been promising, with several shallow-plunging shoots identified, consistent with Norseman’s well-established mineralisation patterns.
Notable intersections include:
- 6m @ 14.07 g/t Au from 30m, including 1m @ 24.5 g/t Au
- 6m @ 3.56 g/t Au from 34m
- 3m @ 6.39 g/t Au from 51m
- 4m @ 3.53 g/t Au from 64m
- 12m @ 1.78 g/t Au from 36m, including 3m @ 3.83 g/t Au from 40m
Pantoro Confident in Growth Potential
Pantoro’s Managing Director, Paul Cmrlec, said the initial results highlight Hinemoa’s strong potential and its geological similarities to other highly productive gold systems in the region.
“These results are very encouraging, confirming the area’s prospectivity for both open-pit and underground mining. We’re seeing clear similarities with other significant deposits in the Norseman region, and given the shallow nature of this mineralisation, we see substantial opportunity for further resource expansion.”
Polar Bear: A High-Potential Goldfield
Polar Bear, located 22km north of the Norseman Gold Plant, has a history of shallow gold mining dating back to the 1890s. The area is geologically similar to the Mararoa Reef (Mainfield), which ultimately yielded 1.2 million ounces of gold. While past mining efforts were limited to small, shallow shafts, deeper exploration has the potential to unlock significant new resources.
Pantoro’s Growth Strategy at Norseman
Pantoro remains focused on expanding its underground mining operations and scaling production at Norseman, with a long-term goal of increasing output from 100,000 ounces per year to over 200,000 ounces annually.
Since acquiring the Norseman Gold Project in 2019, Pantoro has:
- Completed 300,000+ metres of drilling
- Defined Ore Reserves of 958,000 ounces
- Constructed a 1.2Mtpa gold processing plant
- Restarted open-pit and underground production
With a current total Mineral Resource of 4.8 million ounces, numerous untapped targets, and an active drilling program, Pantoro appears well-positioned for significant growth. Investors can expect further updates as drilling at Polar Bear continues.
