Pantoro Limited (ASX:PNR) Annual Mineral Resource and Ore Reserve Statement

Pantoro Limited (ASX:PNR) has released its annual Mineral Resource and Ore Reserve statement for the Norseman Project and the Halls Creek Project. The total Mineral Resource stands at 45,876,000 tonnes @ 3.3 g/t Au for 4,870,000 ounces, while the total Ore Reserve stands at 13,673,000 tonnes @ 2.2 g/t Au for 949,000 ounces. The Mineral Resource and Ore Reserve have decreased by approximately 1% and 7% respectively year on year after mining depletion.

Executive Commentary on Mineral Resource and Ore Reserve Statement

The company's mining activity at the Norseman Project focused on the Green Lantern and Scotia Open Pits, and underground operations at the OK Underground Mine. The Scotia Underground Mine commenced in May 2024. Pantoro has not undertaken substantial drilling at Norseman for two years while operations were ramping up. The growth drilling program commenced in September 2024. No mining occurred at the Halls Creek project during the period. The updated Ore Reserve for the OK Underground Mine now stands at 432,000 tonnes @ 7.4 g/t Au for 102,000 ounces, completely replacing mining depletion within the period and extending the OK life of mine. The updated Mineral Resource for the Star of Erin and 02 Lodes at the OK Underground Mine has been completed based on additional drilling and ongoing development of underground operations. The OK Mineral Resource inventory now stands at 456,872 tonnes @ 14.9 g/t Au for 218,000 ounces, an overall increase of 11% in ounces after mining depletion.

Summary of Pantoro's Mineral Resource and Ore Reserve Statement

Pantoro Limited (ASX:PNR) has released a comprehensive report on the mineral resource estimate (MRE) and ore reserves for its Desirables, OK, and Scotia deposits. The MRE and ore reserves have been classified as indicated and inferred to represent confidence and risk with respect to data quality, drill hole spacing, geological and grade continuity, mineralization volumes, historical mining activity, and metal distribution. The estimates are based on detailed exploration, sampling, and estimation methodologies, and have been validated through statistical analysis, swath plots, and visual comparison against input data. The company has also provided detailed information on the sampling techniques, reporting of exploration results, estimation and reporting of mineral resources, and estimation and reporting of ore reserves for each deposit.