S&P/ASX 200 Index (ASX: XJO) gold stock Pantoro Gold Ltd (ASX: PNR) is sliding today.
Pantoro Gold shares closed yesterday trading for $3.90 In morning trade on Wednesday, shares are swapping hands for $3.77 apiece, down 3.5%.
For some context, the ASX 200 is down 0.7% at this time. And in a better comparison of golden apples to golden apples, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is currently down 2.0%.
Despite today's slide, Pantoro Gold shares remain up 24.8% over 12 months, outpacing the 13.7% one-year gains delivered by the benchmark index.
Now, here's what investors are mulling over today.
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ASX 200 gold stock hits more high-grade intercepts
Pantoro Gold shares are falling despite the miner reporting on positive exploratory drilling results at its 100%-owned Norseman Gold Project, located in Western Australia.
The ASX 200 gold stock's surface diamond drilling program at the Scotia Underground Mine, situated within Norseman, is ongoing.
According to the release, extensional drilling in Central Scotia has confirmed wide, high-grade mineralisation. That mineralisation is reported to extend for at least 50 metres below the current Scotia Indicated Mineral Resource.
Management noted that this remains open at depth, which supports the potential for additional development levels beyond Pantoro Gold's existing mine plan.
The grade control drilling returned multiple high-grade intersections within the current mine plan.
Among the top results from Central Scotia, the ASX 200 gold stock reported one hole with 16.09 metres at 10.59 grams of gold per tonne, including 1.58 metres @ 30.48 g/t Au, and 1.75 metres @ 41.72 g/t Au, and 1.31 metres @ 18.02 g/t Au.
And one of the drill holes from Scotia North returned 3.35 metres @ 14.82 g/t Au, including 2.7 m @ 18.11 g/t Au.
Pantoro Gold said it has approved additional levels outside of the current mine plan to further extend mine life.
What did Pantoro Gold management say?
Commenting on the results that could help support the ASX 200 gold stock longer-term, Pantoro Gold managing director Paul Cmrlec said, "Development at Scotia North is now opening up new mineralisation for production, meaningfully improving production flexibility at the mine."
Looking ahead, Cmrlec sounded a positive note for the miner's production growth outlook in FY 2027:
These high-grade infill results, combined with the continued resource growth at Central Scotia and Scotia South, position the mine to grow its production in FY 2027.
While development and production have run behind schedule due to a number of factors in FY 2026, the orebody continues to impress. We remain confident that Scotia will deliver years of high-grade ore feed to Norseman as these additional areas come into full production.
