Pantoro's Flagship Project

The Nicolsons Project is Pantoro’s flagship operation.¬† The Project is underpinned by the high grade Nicolsons Underground Mine with the second underground mine, Wagtail, under active development. Nicolsons has been producing gold since September 2015.

Pantoro commenced construction and refurbishment works at Nicolsons during February 2015 and commenced production in Q3 2015. The Mineral Resource and Ore Reserves have been significantly upgraded since operations commenced, with both higher grades, and additional Ore Lodes identified during mining.

The company is currently producing gold at levels exceeding its feasibility study targets and has expanded to a production rate of 50-55,000 ounces per annum.

Pantoro is focused on continued growth of production and mine life through:

  • Ongoing production from the high grade Nicolsons underground mine. The majority of gold produced from the project since commencement of production in September 2015 has been from Nicolsons.
  • Commencement of ore development from the Wagtail underground mine.
  • Pantoro successfully mined high grade open pits at Wagtail between November 2016 and December 2018 and commenced underground decline development in July 2018.
  • Exploration within the Nicolsons tenements focused on ongoing near mine growth.

Processing Facility

Pantoro owns the only gold processing plant in the Halls Creek area, with the closest facility approximately 300 km to the south.

In June 2018 Pantoro commissioned a Steinert ore sorter and new processing circuit at Nicolsons. The ore sorter has been operating effectively enabling the upgrade of low grade stockpiles and medium grade ore from mining operations. Full time operation is expected as ore feed from Wagtail and Nicolsons ramps up.

Nicolsons Underground Mine

The Nicolsons underground mine is located adjacent to the Nicolsons processing plant and has continued to be the cornerstone of production at the operation.

The mine operates three main ore lodes being the Hall, Anderson, and Johnston Lodes. Development within the ore-body has revealed continuing mineralisation at depth, and has often out-performed drilling indications. This has been a common outcome within the mine since commencement of operations.

Pantoro continues to apply significant in-mine exploration expenditure at Nicolsons with a view to replacing mine depletion and continuing to grow Ore Reserves at the mine.

Wagtail Underground Mine

Wagtail is located adjacent to the Nicolsons Underground Mine. Pantoro commenced mining Wagtail (and the nearby Rowdies mine) as open pit operations in October 2016.

Open pit mining at Wagtail was successful with production exceeding modelled Ore Reserves, and mining revealing a structural architecture similar to what has been observed at the Nicolsons Underground Mine.

Open pit mining operations at Wagtail ceased in December 2017 as planned and work to begin underground mining commenced soon afterwards. Final regulatory approvals to commence underground mining were received in May 2018, and surface works to commence mining began immediately. Underground development at Wagtail has proceeded well and Pantoro expects to begin ore production in the December 2018 quarter.

Regional Exploration

Pantoro has a number of priority targets near to the Nicolsons Project and holds a substantial tenure portfolio with a number of advanced prospects. Exploration drill results to date have been encouraging with a number of excellent results announced to the ASX on 18 October 2018.