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News Release                                                                     View this email in your browser

Savannah FAR #3 Raise Boring Progress

KEY POINTS

  • Specialist raise bore contractor, RUC Mining, successfully established the reamer head at the 1675 RL development drive and commenced back reaming mid-October
  • Back reaming of the ventilation raise has been progressing safely and efficiently since that time
  • Ground conditions have been excellent to date which has enabled high productivity with back reaming currently achieving 8.7/day compared to the targeted 3m/day
  • 101m remains to be completed to break through to surface and the project is now expected to be completed in December 2020
  • Barminco’s lateral underground development program is also progressing well, with activities now one month ahead of the seven-month program

Commenting on the raise boring progress, Managing Director & CEO, Victor Rajasooriar said:
 “It’s fantastic to see the raise boring and horizontal capital development works progressing safely, within budget and well ahead of plan. Panoramic site management, RUC Mining and the Barminco team continue executing this critical and challenging project seamlessly. We now look forward to completing these works ahead of schedule. Completion of the ventilation shaft is a critical piece of work which will enable Savannah to be in a position where the Company can consider the resumption of mining and processing operations from mid-2021.”
 

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Panoramic Resources Limited
ABN: 47 095 792 288

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