Panoramic Resources (ASX:PAN) has underpinned the next phase of production development with ‘positive’ drill results at the Savannah Nickel Project in Western Australia.
The company says newly received assay results from drilling below the 1321 level at Savannah North orebody will underpin the next phase of development down to the 1151 level by infilling the mineral resource, and increasing mining confidence in this area of the orebody.
Panoramic reports that drilling completed below 1321 to date has been ‘very positive’. The results return thickness and grades in line or ahead of expectations based on previous modelling for the Savannah North deposit.
The drill intercepts returned by the program include KUD2058 with 35.40m @ 1.59% nickel (Ni), 0.69% copper (Cu), and 0.13% Cobalt (Co); KUD1982 with 29.80m @ 2.19% Ni, 0.93% Cu, 0.17% Co; and KUD2043 with 29.25m @ 1.83% Ni, 0.82% Cu, 0.14% Co.
Commenting on the new results, Panoramic Resources Managing Director and Chief Executive Officer (CEO) Victor Rajasooriar says: “The latest results returned by the drill program to infill the Savannah North orebody below the 1321 level demonstrates the robustness of the resource.
“The latest results returned by the drill program to infill the Savannah North orebody below the 1321 level demonstrates the robustness of the resource”
The consistent mineralisation and thickness and higher grades the Savannah North orebody continues to display below the 1321 level are particularly encouraging. We look forward to detailing the impact these results will have on the next Savannah North Mineral Resource estimate.”
Panoramic reports the KUD2057 and KUD2058 intercepts reveal the consistent thickened nature of the Savannah North mineralisation at the point where it separates into the upper and lower lenses.
Following the completion of drilling, the company anticipates the drill results will have a ‘positive’ impact on the readily accessible mineral resource in this mine area, and it also continues to support the mining development of the Savannah North orebody.
The project has a 12-year mine life with potential to further extend this through ongoing exploration, the company says.
The company states that drilling is ongoing and further updates will be provided in due course.
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