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Pantoro defines initial underground gold reserves at Wagtail

Pantoro Ltd. defined initial underground reserves for the Wagtail and Rowdies deposits that comprise probable reserves of 356,000 tonnes grading 5.4 g/t of gold for 62,000 ounces.

Wagtail and Rowdies form part of the company's Halls Creek property in Western Australia, along with the Nicolsons mine.

Reserves are included within indicated resources of 450,000 tonnes grading 6.8 g/t of gold for 98,000 ounces, while inferred resources are estimated at 124,000 tonnes grading 7.0 g/t of gold for 28,000 ounces. The estimate uses a cutoff of 2.5 g/t of gold.

Pantoro said May 24 that first underground ore development is anticipated early in the December quarter, subject to final environmental approvals.

"The focus on ramping production to 80,000 to 100,000 ounces per annum run rate by the end of 2018 remains unchanged," Managing Director Paul Cmrlec said.