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The latest update is out from Pantoro Gold Limited ( (AU:PNR) ).
Pantoro Gold has reported a significant high-grade gold discovery at the Racetrack target within the Norseman Mainfield, where wide-spaced drilling has defined a mineralised zone over 400 metres of strike and down to 600 metres depth. Located just 600 metres north of the OK Underground Mine, the structure is interpreted as analogous to the large Bullen Reef system and has delivered standout intercepts including 8.0 metres at 28.68 g/t gold and 2.01 metres at 82.99 g/t gold.
The high-grade zone at Racetrack remains open to the east and down dip, with further potential along the 1,000 metre corridor towards the Mararoa Reef still untested. Management says the discovery could materially lift OK Underground’s production capacity and, given its proximity to existing infrastructure, be brought into the mine plan in a capital-efficient manner as infill and extensional drilling advance the target towards Mineral Resource and Ore Reserve classification.
The most recent analyst rating on (AU:PNR) stock is a Hold with a A$3.55 price target. To see the full list of analyst forecasts on Pantoro Gold Limited stock, see the AU:PNR Stock Forecast page.
More about Pantoro Gold Limited
Pantoro Gold Limited is a Western Australia-based gold producer focused on developing its 100%-owned Norseman Gold Project. The company targets high-grade underground ore bodies and seeks to expand production through nearby discoveries that can be quickly tied into existing mine infrastructure.
YTD Price Performance: -30.67%
Average Trading Volume: 2,796,721
Technical Sentiment Signal: Hold
Current Market Cap: A$1.33B
For an in-depth examination of PNR stock, go to TipRanks’ Overview page.