Maiden resource for PanAust

PANAUST has unveiled a maiden resource for its Long Chieng Track (LCT) deposit, 6km from its flagship Phu Kham copper-gold mine in Laos.
Maiden resource for PanAust Maiden resource for PanAust Maiden resource for PanAust Maiden resource for PanAust Maiden resource for PanAust

The measured, indicated and inferred resource for Phu Kham is 32 million tonnes at 0.77 grams per tonne gold, 4.9gpt silver and 0.12% copper, using a 0.1gpt gold cut-off grade.

The resource was based on 218 drillholes for 31,644m of drilling.

The mineralised zones occur close to surface over a 450m strike length, which remains open downdip and along strike.

The company said drilling had also intersected gold-silver and copper-gold mineralisation outside the current resource boundary, which would be the focus of ongoing drilling.

The different zones of mineralisation could be amenable to flotation and/or carbon-in-leach processing.

PanAust said LCT could represent an opportunity to develop new processing facilities or provide another source of mill feed to Phu Kham.

JP Morgan recently named PanAust as its top Australian copper pick due to its "attractive blend of low-cost production and growth" and rated it as overweight with a $A3.20 price target.

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