Following the completion in mid-February of a program of 28 holes that in-filled areas of the western and central zones of the Upper Mineralisation Lens at Savannah North, the focus has now shifted to the eastern zone. A program of 18 holes has now started in the eastern zone. The recent and upcoming drilling will support an updated Mineral Resource Estimate for Savannah in
Commenting on the drilling update, Managing Director and CEO,
The first drill hole completed, KUD1875, was designed to test the northerly trending Upper Mineralisation Lens in this area. KUD1875 has been logged with assays pending. A modest mineralised intersection was achieved at the target depth of 64.9m, appearing to confirm the geological model. In addition, KUD1875 intersected an unanticipated 5.7m zone of semi-massive breccia sulphide mineralisation near the start of hole from 3.3m downhole. The significance of the two mineralised intercepts returned by KUD1875 remain to be fully understood and will require additional drilling. The mineralised intercept at 64.9m downhole appears to be situated at the base of the Savannah North intrusion and is possibly the beginnings of a second bifurcated splay similar to the Lower Mineralisation Lens.
Whilst the intersection beginning 3.3m downhole in KUD1875 also appears to be situated on or close to the basal contact of the Savannah North intrusion, the contact is further to the north than previously modelled. It therefore may be removed from the Upper Mineralisation Lens and could also be the beginnings of a new lens or third splay-like structure. Additional drilling is required to resolve these interpretations.'
About Panoramic
Forward Looking Statements
This announcement contains certain 'forward-looking statements' and comments about future matters. Forward-looking statements can generally be identified by the use of forward-looking words such as, 'expect', 'anticipate', 'likely', 'intend', 'should', 'could', 'may', 'predict', 'plan', 'propose', 'will', 'believe', 'forecast', 'estimate', 'target' 'outlook', 'guidance' and other similar expressions within the meaning of securities laws of applicable jurisdictions. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements. You are cautioned not to place undue reliance on forward looking statements. Any such statements, opinions and estimates in this announcement speak only as of the date hereof and are based on assumptions and contingencies subject to change without notice, as are statements about market and industry trends, projections, guidance and estimates. Forward-looking statements are provided as a general guide only. The forward-looking statements contained in this announcement are not indications, guarantees or predictions of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of the Company, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct.
There can be no assurance that actual outcomes will not differ materially from these forward-looking statements. A number of important factors could cause actual results or performance to differ materially from the forward looking statements. The forward-looking statements are based on information available to the Company as at the date of this announcement. Except as required by law or regulation (including the ASX Listing Rules), the Company undertakes no obligation to supplement, revise or update forward-looking statements or to publish prospective financial information in the future, regardless of whether new information, future events or results or other factors affect the information contained in this announcement.
Contact:
Tel: +61 8 6266 8600
(C) 2022 Electronic News Publishing, source