Halls Creek Project

Halls Creek Project consists of the Nicolsons Project, located approximately 35 km south west of Halls Creek in the Kimberley, Region of Western Australia. The highly prospective area remains largely under-explored with minimal drill testing of targets outside of the existing resources.

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Project Overview

Pantoro acquired its initial interest in the project during April 2014, and took possession of the site in May 2014 enacting its rapid development plan for the project. Pantoro acquired 100% ownership of the project in July 2017.

Nicolsons Mine is well located, only 8 km from the Great Northern Highway, a fully sealed transport corridor connecting Perth and Darwin. The mine is only 45 km from the Town of Halls Creek, where extensive services, including camp accommodation and a fully sealed airstrip are utilised by the company, reducing overall capital and ongoing maintenance costs.

Pantoro commenced Gold production from Nicolsons Mine in September 2015 following approximately six months of construction which involved commencement of a new underground mine, the repair and refurbishment of an existing processing facility, and construction of surface infrastructure including the tailings storage facility. Operations have also resulted in silver production with approximately one ounce of silver recovered for every two ounces of gold produced to date.

As at 30th April 2017 the project has a Mineral Resource estimate of 1.58 million tonnes at 7.4 g/t Au containing approximately 377,000 ounces of gold. The Ore Reserve estimate is 0.77 million tonnes at 7.4 g/t Au containing approximately 183,000 ounces of gold.

The project  region  has only  been sporadically  assessed  over  a  number  of  years, and  is considered to be  grossly under-explored.  Pantoro’s  current  exploration effort  is  the  most substantial  program ever undertaken and has led to additional ore discovery during the year through improved knowledge of the mineralised system.Total known gold endowment within Pantoro’s tenure now exceeds 450,000 ounces (refer to ASX Announcement of 1 June 2017 titled “Nicolsons Project  Mineral  Resource and Ore Reserve update”), demonstrating  that  the project  presents  a  significant  deposit  in  the  Australian gold industry context.