Pantoro Finds Gold Mineralization in Western Australia Project, Shares Down 3%

MT Newswires Live07:47

Pantoro (ASX:PNR) said it found gold mineralization during a recent drilling at the Butterfly Area of its Norsemen gold project's Mainfield, according to a Monday Australian bourse filing.

The results were up to 1.5 meters at 81.23 grams per tonne grade of gold, including 0.5 meters at 223.65g/t gold.

The company said that drilling from the Bullen decline is ongoing across multiple zones, including the Butterfly area of the Mararoa Reef. The Mararoa Reef has historically produced an estimated 1.4 million ounces of gold.

The company added that mineralization lies only 70 metres east of the recently developed Butterfly decline, facilitating easy access for

potential mining.

The company's shares fell 3% in recent Monday trade.

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