Resource Expansion at Daisy South Could Shift Norseman Mine Life and Efficiency

Strong Drilling Results Reinforce Daisy South Potential

Pantoro Gold Limited (ASX, PNR) has delivered encouraging news from its Norseman Gold Project in Western Australia, with recent drilling at the Daisy South deposit confirming high-grade gold mineralisation and extensions beyond the current resource boundary. The infill and step-out drilling results bolster confidence in the existing mineralisation model and support an updated open pit mining study.

The standout intersections include a remarkable 14 metres at 9.17 grams per tonne gold, featuring intervals as rich as 65.58 g/t, alongside multiple other high-grade hits. These results validate the presence of a robust lode system within the Daisy Shear Zone, a key structural corridor hosting the mineralisation.

Strategic Mine Planning to Enhance Efficiency

With mine design and planning well underway, Pantoro intends to develop Daisy South in tandem with the nearby Gladstone Everlasting Open Pit, located just 900 metres to the west. This simultaneous mining approach is expected to improve fleet utilisation and extend the operational life of the Gladstone Everlasting pit, delivering operational synergies and cost efficiencies.

The Daisy South deposit, situated approximately 7 kilometres east of the company’s processing facility, was historically mined in the early 2000s, producing around 63,000 ounces of gold at an average grade of 4.03 g/t. The current Mineral Resource estimate stands at 215,000 tonnes at 2.9 g/t gold, equating to roughly 20,000 ounces, with ongoing drilling aimed at further resource expansion.

Geological Context and Growth Prospects

The Daisy South mineralisation is hosted within a 40-50 metre wide corridor of ductile shearing and biotite alteration known as the Daisy Shear Zone. The deposit’s geological setting is characterised by thick, high-grade zones associated with quartz-pyrite-pyrrhotite veining and complex structural controls, including folding and boudinage, which create multiple high-grade shoots.

Pantoro’s Managing Director, Paul Cmrlec, highlighted the significance of these results, noting that they support the development of an additional open pit to be mined alongside Gladstone Everlasting. He emphasised that mine planning and approvals are progressing well, with further drilling planned to continue extending the resource.

Broader Norseman Project Outlook

The Norseman Gold Project remains a cornerstone of Pantoro’s growth strategy, with a total Mineral Resource of 4.6 million ounces and Ore Reserves of 859,000 ounces. The company recently commissioned a new 1.2 million tonnes per annum processing plant and is actively expanding both open pit and underground operations.

With many Mineral Resources still open at depth and along strike, and numerous untested anomalies, Pantoro is well positioned to scale production from its Norseman assets. The company plans to drill approximately 250,000 metres during the 2026 financial year, underscoring its commitment to unlocking further value.