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Aug 2008 - Panoramic Res

Panoramic Resources Limited (PAN) – Establishing a Company with a life of 10 to 15 years producing ~15,000tpa to 20,000tpa Nickel, that has Significant Upside Potential

  • With both Lanfranchi (LNM)’s Deacon and Kimberley (KNM)’s renamed Savannah orebody both open at depth and growing in width and on strike, the renamed Panoramic Resources appears to have the capability of establishing a company with a life of at least 10 to 15 years, producing ~15,000tpa to 20,000tpa Nickel.
  • The orebody at Savannah appears to be significantly changing and improving at depth with higher widths (possibly >30m thick), different nickel mineralisation styles, and often higher grades (nickel, copper and cobalt) than the Upper Zone of the orebody. Which could result in production of ~0.9mtpa from Savannah alone, a longer life, and at higher grades.
  • The potential size of Savannah has been aided by the delineation of the Northern Ore Zone at the western end of Savannah making a T-bone shape with the Main Zone, which increases the potential strike length of the Lower Zone (there was a non-JORC resource of up to ~80,000tNi in the Lower Zone [below the 500 fault]).
  • Savannah currently receives significant by-product credits of ~A$4.00/lb to A$4.20/lb, which should increase with the higher copper grades towards the west and at depth, especially if KNM also needs to produce a copper concentrate.
  • There is also significant exploration upside potential at Lanfranchi, based on a number of target areas to be EM tested, plus the possibility of replication under the northern dome, having established a “hangingwall” position of ~2m @ 7%Ni.
  • Written by: Keith Goode
  • Friday, 01 August 2008

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