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Pantoro delivers high-grade gold results from Scotia deposit at Norseman Project

Pantoro Ltd (ASX:PNR) has received encouraging initial results from Scotia deposit at Norseman Project in WA with best results of 4 metres at 44.46 g/t gold from 174 metres including 1-metre at 115 g/t.

Scotia is the fourth major mining centre tested by Pantoro to date at Norseman and all areas drilled to date have returned results in line with expectations.

Drilling in and around the existing Scotia mineral resource of 413,000 ounces has confirmed continuity of mineralisation.

Demonstrate quality of project
Pantoro managing director Paul Cmrlec said: “These excellent results come from the fourth deposit that we have drilled at Norseman.

“Each deposit drilled to date has provided outcomes in line with or exceeding Pantoros expectation, demonstrating the outstanding quality of the project.”

Other highlights:

4 metres at 5.51 g/t from 126 metres;
2 metres at 5.33 g/t from 127 metres;
1-metre at 7.95 g/t from 117 metres;
5 metres at 6.30 g/t from 69 metres;
1-metre at 16.6 g/t from ..

Pantoro Ltd (ASX:PNR) has received encouraging initial results from Scotia deposit at Norseman Project in WA with best results of 4 metres at 44.46 g/t gold from 174 metres including 1-metre at 115 g/t.

Scotia is the fourth major mining centre tested by Pantoro to date at Norseman and all areas drilled to date have returned results in line with expectations.

Drilling in and around the existing Scotia mineral resource of 413,000 ounces has confirmed continuity of mineralisation.

Demonstrate quality of project

Pantoro managing director Paul Cmrlec said: “These excellent results come from the fourth deposit that we have drilled at Norseman.

“Each deposit drilled to date has provided outcomes in line with or exceeding Pantoros expectation, demonstrating the outstanding quality of the project.”

Other highlights:

  • 4 metres at 5.51 g/t from 126 metres;
  • 2 metres at 5.33 g/t from 127 metres;
  • 1-metre at 7.95 g/t from 117 metres;
  • 5 metres at 6.30 g/t from 69 metres;
  • 1-metre at 16.6 g/t from 88 metres;
  • 3 metres at 4.38 g/t from 138 metres;
  • 4 metres at 3.87 g/t from 84 metres;
  • 4 metres at 7.61 g/t from 93 metres;
  • 5 metres at 6.43 g/t from 69 metres;
  • 12 metres at 3.44 g/t from 151 metres;
  • 2 metres at 6.54 g/t from 129 metres;
  • 1-metre at 13.7 g/t from 76 metres; and
  • 5 metres at 6.39 g/t from 95 metres;

Ongoing drilling

Around 27 holes for 3,794 metres of the planned 6,000 metre reverse circulation (RC) and diamond drilling program have been completed to date.

The objective is to define open pit and future underground mining potential.

Results to the north of the current pit and underground workings are very encouraging and will be followed up in the remainder of the planned program.

All aspects of Pantoros work to date have advanced in line with the project plan which is to define mineral resources and ore reserves at key mining centres within the large tenement area.

Norseman mineral resources prior to modelling of new drilling results shown.

Next for Norseman

Following the recommencement of drilling after the Christmas break, there are four drill rigs in operation at Norseman, undertaking diamond and RC drilling programs.

These are focused on resource development at Gladstone (including Daisy South), Scotia Mining Centre, Maybell Mining Centres (including Lord Percy) and Princess Royal Mining Centre (includingRead More – Source

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Great Western Exploration appoints executive chairman

Great Western Exploration Limited ASX:GTE) has appointed current non-executive chairman Kevin Somes to the position of executive chairman effective immediately.

Somes has agreed to assume the role as executive chairman with no increase to his non-executive remuneration package of $55,000 per annum plus superannuation.

Other appointments[hhmc]
Jordan Luckett has stepped down as managing director for personal reasons but will continue to provide support in his new role as technical direRead More – Source

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Proactiveinvestors
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Great Western Exploration Limited ASX:GTE) has appointed current non-executive chairman Kevin Somes to the position of executive chairman effective immediately.

Somes has agreed to assume the role as executive chairman with no increase to his non-executive remuneration package of $55,000 per annum plus superannuation.

Other appointments


Jordan Luckett has stepped down as managing director for personal reasons but will continue to provide support in his new role as technical direRead More – Source

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Pure Minerals receives coverage from Independent Investment Research

Pure Minerals Ltd (ASX:PM1) has received research coverage from Independent Investment Research (IIR).

The 22-page report goes into detail regarding the proposed Townsville Energy Chemical Hub (TECH) Project in Queensland.

The report notes the building blocks are coming together quickly for the TECH Project with the pre-feasibility study (PFS) completed in December 2019 as well as the recently completed high purity alumina (HPA) scoping study.

Share price at deep discount to project's estimated NPV[hhmc]
Using a share price of 1.9 cents, the company has a market capitalisation of $16.1 million.

While the report does not designate a share price target, it does estimate a net present valuation (NPV) for the proposed TECH Project of between $47 million and $585 million.

The research firm does note the valuation relies on a number of factors including PFS assumptions and project approvals.

The following is an extract from the report:

VALUATION VERY SENSITIVE, BUT PRICE TREND PO..

Pure Minerals Ltd (ASX:PM1) has received research coverage from Independent Investment Research (IIR).

The 22-page report goes into detail regarding the proposed Townsville Energy Chemical Hub (TECH) Project in Queensland.

The report notes the building blocks are coming together quickly for the TECH Project with the pre-feasibility study (PFS) completed in December 2019 as well as the recently completed high purity alumina (HPA) scoping study.

Share price at deep discount to project's estimated NPV


Using a share price of 1.9 cents, the company has a market capitalisation of $16.1 million.

While the report does not designate a share price target, it does estimate a net present valuation (NPV) for the proposed TECH Project of between $47 million and $585 million.

The research firm does note the valuation relies on a number of factors including PFS assumptions and project approvals.

The following is an extract from the report:

VALUATION VERY SENSITIVE, BUT PRICE TREND POSITIVE

If we include the deferred consideration shares, Pure Minerals at A$0.019/sh would have a market capitalization of A$16.1M. Our NPV for the NiCo plant ranges from A$47M using the cycle price lows of the last three years to A$585M using cycle price highs over the last three years, and A$241M assuming current spot prices flat in real terms forever. The HPA bolt-on is additional value. These valuations are for the project only, and take no account of the cost of corporate overheads, nor of financing diRead More – Source

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Pure Minerals gains new substantial holder in managing director John Downie

Pure Minerals Ltd (ASX:PM1) has gained a new substantial holder in managing director John Downie.

Downie now holds 40.78 million shares increasing his stake in the company to 6.83%.

High-purity alumina (HPA) scoping study adds value[hhmc]
Pure recently received results for a scoping study evaluating the production of high-purity alumina (HPA) from its Townsville Energy Chemicals Hub (TECH) Project in Queensland.

The scoping study assessed the production of 4N HPA on a standalone basis, using the aluminium hydroxide as a feedstock.

This scoping study followed the December 2019 pre-feasibility study (PFS) on the TECH Project which identified the production of HPA as a key value-add opportunity for the project.

A 25-year operation producing 4,007 tonnes per annum (tpa) of 4N HPARead More – Source

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Proactiveinvestors
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Pure Minerals Ltd (ASX:PM1) has gained a new substantial holder in managing director John Downie.

Downie now holds 40.78 million shares increasing his stake in the company to 6.83%.

High-purity alumina (HPA) scoping study adds value


Pure recently received results for a scoping study evaluating the production of high-purity alumina (HPA) from its Townsville Energy Chemicals Hub (TECH) Project in Queensland.

The scoping study assessed the production of 4N HPA on a standalone basis, using the aluminium hydroxide as a feedstock.

This scoping study followed the December 2019 pre-feasibility study (PFS) on the TECH Project which identified the production of HPA as a key value-add opportunity for the project.

A 25-year operation producing 4,007 tonnes per annum (tpa) of 4N HPARead More – Source

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