Pan African Mining Corp makes new gold discovery in Madagascar
Targeting information included surface evidence of several large gold bearing east-west striking quartz veins exposed through shallow mining by French interests during the early Twentieth Century. These old workings, now marked by deep linear incisions along four discrete structures, can be followed continuously for nearly 2 km. Further strengthening this target were two historic studies conducted by the French agency BRGM in the early 1980's. Of interest were the orientation and congruence of an Au soil geochemical anomaly with a magnetic anomaly, both of which trend southwest-northeast. The six core holes, which tested these coincident anomalies as well as the down-dip projections of the historic workings in the Dabolava East area, yielded several significant "discovery" intercepts as presented in the table below:
----------------------------------------------
Hole From To Interval Assay
Number (meters) (meters) (meters) Au (g/t)
----------------------------------------------
DE-D-001 57.3 58.2 0.9 32.25
----------------------------------------------
DE-D-002 (no significant intercepts)
----------------------------------------------
DE-D-003 51.0 52.0 1.0 12.19
----------------------------------------------
DE-D-004 44.9 49.4 4.5 2.00
----------------------------------------------
127.1 131.4 4.3 10.52
----------------------------------------------
DE-D-005 40.2 41.1 0.9 3.75
----------------------------------------------
88.2 88.8 0.6 2.60
----------------------------------------------
DE-D-006 25.7 42.9 17.2 4.04
----------------------------------------------
including 25.7 26.6 0.9 13.80
----------------------------------------------
including 30.5 36.2 5.7 5.13
----------------------------------------------
including 41.3 42.9 1.6 17.08
----------------------------------------------
Notes to Table
--------------
Hole number DE-D-002 did encounter structure, but values were relatively
minor. Because of insufficient information, no attempt has been made to resolve the intercepts provided in the table above into true widths. Core angles with mineralized zones were generally greater than 60 degrees, and in many instances greater than 70 degrees.
Locations and orientations for the Dabolava East holes are as follows:
-------------------------------------------------------------------------
Hole Northing Easting Collar Azimuth Dip Total
Number UTM UTM Elevation (mag) (deg) Depth
38K 38K (meters) (meters)
-------------------------------------------------------------------------
DE-D-001 7,828,537 575,667 556 008 -45 92.0
-------------------------------------------------------------------------
DE-D-002 7,828,571 575,926 569 353 -45 87.2
-------------------------------------------------------------------------
DE-D-003 7,828,405 575,302 542 012 -50 85.0
-------------------------------------------------------------------------
DE-D-004 7,827,454 574,600 573 158 -44 180.0
-------------------------------------------------------------------------
DE-D-005 7,827,454 574,600 573 158 -60 180.0
-------------------------------------------------------------------------
DE-D-006 7,827,464 574,709 568 170 -45 180.0
-------------------------------------------------------------------------
The reconnaissance level drilling completed thus far suggests that the
10 km MOGS zone may host a number of similarly productive gold-bearing
dilational features. The 4.3 m @ 10.52 g/t Au and 17.2 m @ 4.04 g/t
intercepts in holes DE-D-004 and DE-D-006 respectively, (approximately
110 meters apart) define a southwest-northeast trending zone that has
coincident Au soil and magnetic anomalies generated by the BRGM, intersecting
the generally east/west MOGS zone defined by the historic workings. The
significant drill results which confirm a permissive structural environment
along with a strong gold-sulfide association, suggest that further geochemical
and magnetic studies are required along the 10 km MOGS zone to define
additional drill targets on similar areas of dilation.
Phase I drilling of the Gossan and Andimaka areas, along east-west structures on the MOGS zone intersected tight subvertical shears and failed to demonstrate suitable host environments. The mountain from which the Mountain of Gold shear takes its name remains a priority target for the next phase of work, as empirical geologic evidence suggests that it has the structural complexity necessary for hosting economic mineralization. Further geophysical and geochemical surveys are planned to site Phase II drill targets in this and other prospective areas along the entire MOGS trend.
The widths and values noted in the drilling results above are suggestive of an area of good ground preparation and intense mineralization with the potential to host a major economic deposit. According to Irwin Olian, President and CEO, "We are delighted with these highly significant discovery intercepts from our initial Phase I reconnaissance drilling program. Not only are they are suggestive of a highly mineralized, permissive zone along this major structure in Dabolava East, but they also tend to confirm a model which suggests numerous additional targets along the more than ten kilometers of known strike on the Mountain of Gold Shear system. We are greatly appreciative of the efforts of our dedicated staff of Malagasy geologists, technicians and other professionals, as well as the efforts of our strong international team of geologists and engineers. Through continued cooperation and hard work, we expect to build upon this success in Madagascar."
Drilling was performed under contract by a drilling subsidiary of Dynatec Corporation (TSX-DY), utilizing a multi-purpose track mounted UDR 650 drill. All drilling was continuously cored with a wireline system. Most holes were collared and drilled through the weathered zone with HQ equipment. Once through the weathered zone, core size was reduced to NQ.
Core was logged and saw-split at the Company's camp at the project site. The retained core splits are securely stored at the camp, and the other splits were shipped to the Company's sample preparation facility in Antananarivo for crushing to less than 2mm. Two hundred fifty gram splits of crushed material were divided and shipped to ALS Chemex in Johannesburg, South Africa for pulverization to 75 microns. The pulverized samples were then forwarded to ALS Chemex in Vancouver, B.C. for gold determination by Fire Assay and 34 element ICP analysis, using 30-gram sub-samples. Sample reject is stored at the Company's sample preparation facility for future reference, required due diligence and engineering audits. The remaining pulverized material is temporarily stored at ALS Chemex in Johannesburg and will be returned to the Company.
Drilling, logging, and sampling were overseen by Andre J. Audet, P.Eng., and Australian geologist, Brian Thiele. Both Audet and Thiele are qualified persons under NI 43-101. Sample preparation was supervised by Ardito Martohardjono, Vice-President of Laboratory Services, formerly a sample preparation supervisor and branch manager for Bondar Clegg and ALS Chemex. Total program oversight was provided by Gregory B. Sparks, P. Eng., a director of the Company and a qualified person under NI 43-101. Dr. Peter Christopher, P.Eng., has served as an independent advisor and qualified person under NI 43-101 for this program.
About Pan African
The Company is an exploratory resource company with approximately 10,000 square kilometres of diversified mineral properties in Madagascar. The Company is exploring these properties for gold, uranium, precious stones, base metals and industrial commodities. Its operations in Madagascar are carried out through its operating subsidiary, PAM Madagascar Sarl. The Company has offices in Vancouver, Canada and Antananarivo, Madagascar. More information about the Company is available at www.panafrican.com
ON BEHALF OF THE BOARD OF DIRECTORS OF
PAN AFRICAN MINING CORP.
"Gregory B. Sparks"
--------------------------
Gregory B. Sparks, P.Eng.,
Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.
VANCOUVER, May 11 /PRNewswire-FirstCall/
Comments