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PAF - Pan African - Manica Project: Resource Upgrade and Drilling Results
Pan African Resources PLC
(Incorporated and registered in England and Wales under Companies Act 1985 with
registration number 3937466 on 25 February 2000)
Share code on AIM: PAF ISIN: GB0004300496
Share code on JSE: PAN
("Pan African" or the "Company")
Regulatory Announcement
Company Pan African Resources plc
TIDM PAF
Headline Manica Project: Resource Upgrade & Drilling
Results
Released 10 September 2007
Date: 10 September 2007
Manica Project: Resource Upgrade and Drilling Results
Pan African Resources PLC (AIM: PAF, AltX: PAN), the African based gold mining
and exploration company is pleased to announce an increased resource at the
Manica gold project in Mozambique and report an increase in grades resulting
from the ongoing exploration drilling programme.
Highlights:
- Increase in the Manica resource of 18% to 1.550Moz contained gold compared to
the previously reported 1.311Moz.
- Confirmation of higher gold grades at the Fair Bride prospect
Further 15,600m exploration drilling planned at Manica for completion by Q4 2007
The total Manica resource was upgraded from 1,311Moz at 2.89g/t to 1.550Moz at
2.96g/t. The resource at the Fair Bride prospect has been increased by 20% to
1.245Moz as part of the ongoing pre-feasibility study that is planned for
completion in Q1 2008. The revised resource statement for the Manica project is
as follows:
MANICA EXPLORATION PROJECT - MEASURED MINERAL RESOURCE
Prospect Category Tonnes Grade (g/t) Gold (kg) Gold (oz)
Fair Bride Measured 3,120,000 2.98 9,300 299,200
3,120,000 2.98 9,300 299,200
MANICA EXPLORATION PROJECT - INDICATED MINERAL RESOURCE
Prospect Category Tonnes Grade (g/t) Gold (kg) Gold (oz)
Fair Bride Indicated 2,110,000 2.47 5,200 167,900
Guy Fawkes Indicated 2,150,000 2.44 5,200 168,300
4,260,000 2.46 10,400 335,800
MANICA EXPLORATION PROJECT - INFERRED MINERAL RESOURCE
Prospect Category Tonnes Grade (g/t) Gold (kg) Gold (oz)
Fair Bride Inferred 7,500,000 3.23 24,200 778,300
Guy Fawkes Inferred 600,000 2.80 1,700 56,000
Dot`s Luck Inferred 500,000 3.35 1,500 49,600
Boa Esperanca Inferred 300,000 2.96 1,000 31,200
8,900,000 3.20 28,400 915,100
MANICA EXPLORATION PROJECT - TOTAL MINERAL RESOURCE
All Prospects 16,280,000 2.96 48,100 1,550,100
The infill exploration drilling programme at Fair Bride is advancing well and to
date 4476m have been drilled, representing 37 boreholes, which continue to
outline additional resource volumes at depth and along strike. To date assay
results from 15 of the 37 boreholes drilled have been received, and are
tabulated at the end of this release.
The following composite intersections are highlighted; widths reported are as
intersected in hole (the results of these boreholes have not been included in
the current resource statement and a new resource will be declared once all the
planned boreholes have been drilled):
9m @ 4,07g/t (drillhole AND08, from 51m - 60m)
2m @7,95g/t (drillhole AND09, from 0m - 2m)
24m @ 5,81g/t (drillhole AND15, from 9m - 33m)
7m @ 1,96g/t (drillhole AND36, from 88m - 95m)
18m @ 4,53g/t (drillhole AND37, from 72m - 90m)
15.32m @3,74g/t (drillhole ANDD10, from 114.43m - 129.75m)
15.51m @ 4,81g/t (drillhole ANDD11, from 60.85m - 76.36m)
4.03m @3,35g/t (drillhole ANDD14, from 107.37m - 111.40m)
7.16m @ 2,30g/t (drillhole ANDD18, from 53m - 60.16m)
15.62m @ 1,74g/t (drillhole ANDD18, from 77.41m - 93.03m)
4.23m @ 21,10g/t (drillhole ANDD25, from 188.27m - 192.5m)
5.47m @ 2,70g/t (drillhole ANDD26, from 173.60m - 179.07m)
26.04m @5,01g/t (drillhole MDD002, from 82.76m - 108.8m)
The Company is planning a further 6600m of drilling at the Fair Bride prospect,
as well as an additional 9000m of Reverse Circulation ("RC") drilling at the Guy
Fawkes prospect. This drilling programme is due for completion in Q4 2007 and
it is hoped that it will result in 90% of the total resource stated at the Fair
Bride prospect being in the Measured and Indicated categories.
The Guy Fawkes prospect has emerged from ongoing exploration work as a
potentially significant target, which could add considerably to the Manica
resource.
Jan Nelson, CEO of Pan African, commented: "The latest results from the drilling
programme have not only confirmed the Company`s expectation that the grade at
the Fair Bride prospect is higher than previously anticipated, but has also
outlined additional resources at depth and along strike, at Fair Bride, as well
as at the Guy Fawkes and Dot`s Luck prospects. As a result of the
identification of these additional resources, the completion of the pre-
feasibility study will now be delayed until Q1 2008 to accommodate all of the
new information. The Company is looking forward to reporting on the ongoing
results during the course of the year."
Nelson commented further on the other Pan African projects throughout Africa:
"The 8100m Rotary Air Blast ("RAB") drilling programme at the Bogoin prospect in
Central African Republic ("CAR") is advancing well and as soon as results become
available the Company will report them. Exploration activity in Ghana on the
Akrokerri prospect, as well as the exploration programme in the areas
surrounding Barberton Mines in South Africa will commence in Q4 2007."
Laboratory Results of Composite Intersections Stated
BHID Depth depth Gold grade
from to Length (g/t)
And08
51.00 54.00 3.00 0.49
And08
54.00 57.00 3.00 0.46
And08
57.00 58.00 1.00 3.48
And08
58.00 59.00 1.00 12.99
And08
59.00 60.00 1.00 17.33
And09
- 1.00 1.00 8.27
And09
1.00 2.00 1.00 7.64
And15
9.00 12.00 3.00 4.37
And15
12.00 15.00 3.00 1.35
And15
15.00 16.00 1.00 1.50
And15
16.00 17.00 1.00 1.06
And15
17.00 18.00 1.00 0.33
And15
18.00 21.00 3.00 8.25
And15
21.00 22.00 1.00 0.02
And15
22.00 23.00 1.00 0.07
And15
23.00 24.00 1.00 3.61
And15
24.00 25.00 1.00 3.34
And15
25.00 26.00 1.00 32.46
And15
26.00 27.00 1.00 27.46
And15
27.00 28.00 1.00 10.82
And15
28.00 29.00 1.00 3.23
And15
29.00 30.00 1.00 1.74
And15
30.00 33.00 3.00 3.93
And36
88.00 89.00 1.00 0.38
And36
89.00 90.00 1.00 5.38
And36
90.00 91.00 1.00 1.13
And36
91.00 92.00 1.00 3.10
And36
92.00 93.00 1.00 1.12
And36
93.00 94.00 1.00 1.53
And36
94.00 95.00 1.00 1.10
And37
72.00 75.00 3.00 0.82
And37
75.00 76.00 1.00 0.28
And37
76.00 77.00 1.00 3.60
And37
77.00 78.00 1.00 13.58
And37
78.00 79.00 1.00 20.07
And37
79.00 80.00 1.00 1.86
And37
80.00 81.00 1.00 9.84
And37
81.00 82.00 1.00 7.66
And37
82.00 83.00 1.00 19.22
And37
83.00 84.00 1.00 0.13
And37
84.00 87.00 3.00 0.72
And37
87.00 90.00 3.00 0.26
Andd010
114.43 115.44 1.01 10.60
Andd010
115.44 116.44 1.00 8.94
Andd010
116.44 117.44 1.00 2.88
Andd010
117.44 118.05 0.61 1.89
Andd010
118.05 119.05 1.00 4.78
Andd010
119.05 120.02 0.97 7.14
Andd010
120.02 121.02 1.00 4.04
Andd010
121.02 122.02 1.00 0.07
Andd010
122.02 123.02 1.00 0.04
Andd010
123.02 124.03 1.01 0.98
Andd010
124.03 125.03 1.00 2.99
Andd010
125.03 126.03 1.00 0.44
Andd010
126.03 127.03 1.00 1.08
Andd010
127.03 127.75 0.72 0.75
Andd010
127.75 128.75 1.00 4.93
Andd010
128.75 129.75 1.00 6.73
Andd011
60.85 61.85 1.00 0.20
Andd011
61.85 62.85 1.00 0.24
Andd011
62.85 63.75 0.90 0.40
Andd011
63.75 64.75 1.00 0.84
Andd011
64.75 65.75 1.00 0.11
Andd011
65.75 66.75 1.00 0.40
Andd011
66.75 67.75 1.00 0.20
Andd011
67.75 68.60 0.85 0.83
Andd011
68.60 69.75 1.15 14.80
Andd011
69.75 70.75 1.00 16.30
Andd011
70.75 71.75 1.00 4.94
Andd011
71.75 72.75 1.00 5.57
Andd011
72.75 73.75 1.00 15.50
Andd011
73.75 74.75 1.00 6.13
Andd011
74.75 75.75 1.00 4.61
Andd011
75.75 76.36 0.61 2.38
Andd014
107.37 108.37 1.00 3.20
Andd014
108.37 109.37 1.00 1.25
Andd014
109.37 110.40 1.03 7.39
Andd014
110.40 111.40 1.00 1.42
Andd018
53.00 54.00 1.00 2.01
Andd018
54.00 55.00 1.00 0.00
Andd018
55.00 55.50 0.50 5.37
Andd018
55.50 56.45 0.95 4.64
Andd018
56.45 57.48 1.03 0.73
Andd018
57.48 58.48 1.00 0.26
Andd018
58.48 59.31 0.83 5.15
Andd018
59.31 60.16 0.85 2.44
Andd018
77.41 78.28 0.87 3.60
Andd018
78.28 79.30 1.02 0.69
Andd018
79.30 79.80 0.50 0.31
Andd018
79.80 80.90 1.10 0.23
Andd018
80.90 81.96 1.06 3.56
Andd018
81.96 83.02 1.06 1.78
Andd018
83.02 83.86 0.84 0.65
Andd018
83.86 84.62 0.76 0.43
Andd018
84.62 85.60 0.98 9.91
Andd018
85.60 86.63 1.03 0.63
Andd018
86.63 87.60 0.97 0.22
Andd018
87.60 88.60 1.00 1.36
Andd018
88.60 89.65 1.05 0.22
Andd018
89.65 90.63 0.98 0.09
Andd018
90.63 91.25 0.62 0.63
Andd018
91.25 92.44 1.19 2.60
Andd018
92.44 93.03 0.59 1.08
Andd025
188.27 189.50 1.23 5.62
Andd025
189.50 190.50 1.00 1.66
Andd025
190.50 191.50 1.00 40.10
Andd025
191.50 192.50 1.00 40.60
Andd026
173.60 174.60 1.00 0.50
Andd026
174.60 175.30 0.70 0.04
Andd026
175.30 175.75 0.45 2.77
Andd026
175.75 176.75 1.00 3.88
Andd026
176.75 177.75 1.00 0.57
Andd026
177.75 178.55 0.80 0.84
Andd026
178.55 179.07 0.52 15.10
MDD002
82.76 83.76 1.00 2.89
MDD002
83.76 84.76 1.00 2.92
MDD002
84.76 85.76 1.00 0.09
MDD002
85.76 86.85 1.09 12.90
MDD002
86.85 87.90 1.05 0.06
MDD002
87.90 88.75 0.85 0.05
MDD002
88.75 89.43 0.68 0.38
MDD002
89.43 90.40 0.97 0.14
MDD002
90.40 91.23 0.83 0.00
MDD002
91.23 92.07 0.84 0.00
MDD002
92.07 92.90 0.83 0.31
MDD002
92.90 93.70 0.80 0.00
MDD002
93.70 94.50 0.80 0.00
MDD002
94.50 95.50 1.00 0.35
MDD002
95.50 96.50 1.00 0.28
MDD002
96.50 97.50 1.00 0.23
MDD002
97.50 98.50 1.00 0.38
MDD002
98.50 99.40 0.90 1.43
MDD002
99.40 100.14 0.74 23.10
MDD002
100.14 100.81 0.67 18.60
MDD002
100.81 101.80 0.99 17.90
MDD002
101.80 102.80 1.00 19.30
MDD002
102.80 103.85 1.05 6.49
MDD002
103.85 104.65 0.80 2.47
MDD002
104.65 105.59 0.94 8.47
MDD002
105.59 106.33 0.74 0.39
MDD002
106.33 106.95 0.62 0.96
MDD002
106.95 107.80 0.85 25.80
MDD002
107.80 108.80 1.00 1.07
- ExplorMine Consultants (Pty) Ltd act as Pan African`s Competent Person
for the Manica project and independently signed off on the resource
upgrade. ExplorMine is a South African based Resource and Geological
Consultancy - the principal directors and geologists of the company are
Graham Gavine and Garth Mitchell, who are SACNASP accredited.
- Geologix MRC (Pty) Ltd is a South African Resources and Geological
Consultancy - Deon van den Heever is SACNASP accredited and was
responsible for the resource estimate.
- Martin Bevelander, Group Consulting Geologist for Pan African
Resources, is SACNASP accredited and was responsible for validating the
borehole intersections.
- The resource statement is SAMREC compliant and has been verified by
both geological consultancy firms.
- SACNASP - South African Council for Natural Scientific Professions
- SAMREC - South African Mineral Resource Code (similar JORC)
For further information on Pan African PLC, please visit the website at
www.panafricanresources.com
Enquiries:
Pan African Ambrian Partners Macquarie First Parkgreen
Resources Limited South Corporate Communications
Finance (Pty)
Limited
Jan Nelson, CEO Richard Brown Amanda Markman Justine Howarth
+27 (0) 11 777 +44 (0) 20 7776 6417 +27 (0) 11 343 2307 +44 (0) 207 493
7840 3713
Richard Greenfield Done Hattingh
Colin Bird, +44 (0) 20 7776 6418 +27 (0) 11 343 2308
Chairman
+44 (0) 207 584
2155
Nicole Stoyell
Public Relations
+27 (0) 11 777
7840
Date: 10/09/2007 12:36:01 Supplied by www.sharenet.co.za
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