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PAN - Pan African Resources PLC - Drilling Update
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
19 November 2007
Drilling Update
Pan African Resources PLC (AIM: PAF, AltX: PAN), the African based gold mining
and exploration company is pleased to report further results from the ongoing
drilling programme at the Manica gold project in Mozambique and provide an
update of progress with respect to the Company`s drilling program in the Central
African Republic.
Manica Project, Mozambique
On 10 September 2007 the Company reported the results for 15 boreholes out of a
planned 37 to be drilled, representing 4,476m of drilling. Assay results have
now been received for an additional 16 boreholes drilled representing 2,191m of
drilling.
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 of
the planned boreholes have been drilled):
4.35m @ 7.49 g/t (drill hole Andd009, from 123.00m - 127.55m)
0.65m @ 6.47 g/t (drill hole Andd009, from 148.70m - 149.35m)
0.73m @ 7.79 g/t (drill hole Andd009, from 160.37m - 161.10m)
0.65m @ 12.15 g/t (drill hole Andd009, from 182.70m - 183.35m)
3.00m @ 1.04 g/t (drill hole Andd012, from 58.40m - 61.40m)
2.00m @ 2.45 g/t (drill hole Andd013, from 139.98m - 141.98m)
2.00m @ 2.77 g/t (drill hole Andd015, from 87.00m - 89.00m)
2.00m @ 6.02 g/t (drill hole Andd016, from 104.80m - 106.80m)
3.02m @ 4.75 g/t (drill hole Andd017, from 90.94m - 93.96m)
7.00m @ 1.25 g/t (drill hole Andd017, from 100.96m - 107.96m)
2.97m @ 3.52 g/t (drill hole Andd017, from 117.80m - 120.77m)
3.85m @ 3.10 g/t (drill hole Andd020, from 15.15m - 19.00m)
2.90m @ 18.70 g/t (drill hole Andd020, from 22.00m - 24.90m)
0.96m @ 3.78 g/t (drill hole Andd020, from 75.24m - 76.20m)
1.18m @ 3.74 g/t (drill hole Andd021, from 100.02m - 101.20m)
2.02m @ 3.94 g/t (drill hole Andd022, from 47.84m - 49.86m)
2.44m @ 3.38 g/t (drill hole Andd023, from 22.54m - 24.94m)
7.76m @ 3.40 g/t (drill hole Andd023, from 64.50m - 72.26m)
1.86m @ 9.04 g/t (drill hole Andd027, from 71.19m - 73.05m)
7.00m @ 1.44 g/t (drill hole Andd027, from 94.10m - 101.10m)
7.80m @ 2.12 g/t (drill hole Andd027, from 126.27m - 134.07m)
10.36m @ 2.26 g/t (drill hole Andd028, from 11.85m - 24.17m)
2.36m @ 1.04 g/t (drill hole Andd028, from 48.69m - 52.05m)
4.19m @ 7.12 g/t (drill hole Andd029, from 208.04m - 212.24m)
7.05m @ 9.28 g/t (drill hole Andd029, from 214.15m - 221.20m)
7.61m @ 7.56 g/t (drill hole Andd030, from 43.27m - 50.88m)
3.41m @ 2.03 g/t (drill hole Andd032, from 45.09m - 48.50m)
6.60m @ 5.30 g/t (drill hole DL11, from 54.40m - 61.00m)
To date, 6,667m out of a total of 15,600m of planned core and RC drilling has
been reported on. The Company is awaiting assay results from a further 35 drill
holes already completed the results of which will be reported on as they become
available. Drill results will be made available as soon as the assay results
are received. The current resource for Manica has been independently verified
at 1,550Moz at 2.96 g/t, as soon as the new drill results have been received a
updated Resource Statement will be sent out in Q1 2008.
The Company expects the drilling programme to be complete by the end of January
2008 whereafter the Mineral Resource - Model & - Statement for the Manica Gold
Project will be updated.
To date, metallurgical test work, plant design and cost estimation studies have
been completed to Pre-Feasibility level. The Environmental Impact Assessment
will be complete as soon as the final mining plan is concluded.
Central African Republic - Bogoin Gold Project
To date, 2,085m of the 15,600m of the Bogoin Rotary Air Blast ("RAB") drilling
programme have been completed in the Central African Republic and assay results
from 21 boreholes have been received. The Company`s geological team are
currently compiling the results which The Company expects to announce once
verification is completed (Q4 2007).
Jan Nelson, CEO of Pan African, commented: "The results from the ongoing
drilling programme continue to confirm the Company`s expectations of the Manica
gold project, in terms of both volumes and grade of the deposit. The final
geological model is expected to reach completion by January 2008; upon which
final mine optimisation will be completed in-house. The acquisition of
Barberton Mines and the extensive project and management skills available to the
Company as a result of this transaction has not only allowed the Company to
accelerate the exploration project at Manica but will also enable the Company to
more critically review the working and capital cost estimates for the project"
Laboratory Results of Composite Intersections Stated
Exploration Depth Depth Length Gold
drill hole From To (m) (m) grade
number (BHID) (m) (g/t)
ANDD009
123.00 123.73 0.73 5.53
ANDD009
123.73 124.65 0.92 5.40
ANDD009
124.65 125.55 0.90 9.43
ANDD009
125.55 126.43 0.88 7.90
ANDD009
126.43 127.35 0.92 8.86
ANDD009
148.70 149.35 0.65 6.47
ANDD009
160.37 161.10 0.73 7.79
ANDD009
182.70 183.35 0.65 12.15
ANDD012
58.40 59.40 1.00 2.29
ANDD012
59.40 60.40 1.00 0.24
ANDD012
60.40 61.40 1.00 0.60
ANDD013
139.98 140.98 1.00 2.73
ANDD013
140.98 141.98 1.00 2.17
ANDD015
87.00 88.00 1.00 3.81
ANDD015
88.00 89.00 1.00 1.73
ANDD016
104.80 105.77 0.97 9.28
ANDD016
105.77 106.80 1.03 2.95
ANDD017
90.94 91.94 1.00 3.80
ANDD017
91.94 92.96 1.02 7.46
ANDD017
92.96 93.96 1.00 2.93
ANDD017
100.96 101.96 1.00 1.27
ANDD017
101.96 102.96 1.00 0.41
ANDD017
102.96 103.96 1.00 2.80
ANDD017
103.96 104.96 1.00 1.50
ANDD017
104.96 105.96 1.00 0.20
ANDD017
105.96 106.96 1.00 1.27
ANDD017
106.96 107.96 1.00 1.31
ANDD017
117.80 118.80 1.00 3.03
ANDD017
118.80 119.78 0.98 6.31
ANDD017
119.78 120.77 0.99 1.24
ANDD020
15.15 19.00 3.85 3.10
ANDD020
22.00 24.90 2.90 18.70
ANDD020
75.24 76.20 0.96 3.78
ANDD021
100.02 101.20 1.18 3.74
ANDD022
47.84 48.90 1.06 1.28
ANDD022
48.90 49.86 0.96 6.87
ANDD023
22.50 23.50 1.00 0.65
ANDD023
23.50 24.94 1.44 5.27
ANDD023
64.50 65.75 1.25 15.90
ANDD023
65.75 67.15 1.40 0.90
ANDD023
67.15 68.15 1.00 0.33
ANDD023
68.15 68.80 0.65 1.21
ANDD023
68.80 69.50 0.70 0.16
ANDD023
69.50 70.43 0.93 0.77
ANDD023
70.43 71.29 0.86 2.74
ANDD023
71.29 72.26 0.97 0.97
ANDD027
71.19 72.19 1.00 10.20
ANDD027
72.19 73.05 0.86 7.70
ANDD027
94.10 95.10 1.00 0.58
ANDD027
95.10 96.10 1.00 0.14
ANDD027
96.10 97.10 1.00 1.09
ANDD027
97.10 98.10 1.00 3.13
ANDD027
98.10 99.10 1.00 2.27
ANDD027
99.10 100.10 1.00 1.76
ANDD027
100.10 101.10 1.00 1.12
ANDD027
126.27 127.20 0.93 3.48
ANDD027
127.20 128.20 1.00 2.77
ANDD027
128.20 129.20 1.00 0.14
ANDD027
129.20 130.14 0.94 -
ANDD027
130.14 131.14 1.00 3.42
ANDD027
131.14 132.14 1.00 1.03
ANDD027
132.14 133.09 0.95 3.60
ANDD027
133.09 134.07 0.98 2.56
ANDD028
11.85 12.30 0.45 1.52
ANDD028
12.75 14.08 1.33 0.33
ANDD028
14.59 15.74 1.15 0.73
ANDD028
15.74 16.74 1.00 2.40
ANDD028
16.74 17.35 0.61 3.10
ANDD028
17.35 18.35 1.00 1.25
ANDD028
18.35 19.35 1.00 0.42
ANDD028
19.35 20.35 1.00 0.55
ANDD028
20.35 21.35 1.00 1.05
ANDD028
22.35 23.19 0.84 15.20
ANDD028
23.19 24.17 0.98 1.14
ANDD028
48.69 50.00 1.31 -
ANDD028
51.00 52.05 1.05 2.33
ANDD030
43.27 44.15 0.88 5.20
ANDD030 core
44.15 45.90 1.75 loss
ANDD030
45.90 46.33 0.43 1.50
ANDD030 core
46.33 48.33 2.00 loss
ANDD030
48.33 49.33 1.00 15.90
ANDD030
49.33 50.88 1.55 5.20
ANDD029
208.04 208.65 0.61 2.41
ANDD029
208.65 209.31 0.66 13.60
ANDD029
209.31 209.94 0.63 6.76
ANDD029
209.94 211.03 1.09 6.93
ANDD029
211.03 212.23 1.20 6.30
ANDD029
214.15 215.10 0.95 1.86
ANDD029
215.10 216.10 1.00 2.46
ANDD029
216.10 216.77 0.67 5.81
ANDD029
216.77 217.25 0.48 4.56
ANDD029
217.25 217.90 0.65 23.30
ANDD029
217.90 218.70 0.80 20.80
ANDD029
218.70 219.40 0.70 31.20
ANDD029
219.40 220.33 0.93 0.80
ANDD029
220.33 221.20 0.87 0.89
ANDD032
45.09 48.50 3.41 2.03
DL11
54.40 55.06 0.66 0.96
DL11
55.06 55.98 0.92 12.80
DL11
55.98 56.92 0.94 9.31
DL11
56.92 58.00 1.08 9.90
DL11
58.00 59.03 1.03 1.19
DL11
59.03 60.07 1.04 1.66
DL11
60.07 61.00 0.93 0.21
Martin Bevelander,
Group Consulting
Geologist for Pan
African Resources, is
SACNASP (South African
Council for Natural
Scientific Professions)
accredited
and was responsible for
validating the borehole
intersections.
For further information
on Pan African PLC,
please visit the
website at
www.panafricanresources
.com
Enquiries:
Pan African Ambrian Partners Macquarie First St James`s
Resources Limited South Corporate Corporate
Finance (Pty) Services
Limited Limited
Jan Nelson, CEO Richard Brown Amanda Markman
+27 (0) 11 777 +44 (0) 20 7776 6417 +27 (0) 11 343
7840 2307 Phil Dexter
Richard Greenfield +44 (0) 20 7499
Keith Spencer, +44 (0) 20 7776 6418 Done Hattingh 3916
Chairman +27 (0) 11 343
+27 (0) 11 880 2308
3155
Nicole Stoyell
Public Relations
+27 (0) 11 777
7840
Date: 19/11/2007 09:00:05 Supplied by www.sharenet.co.za
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