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Project Update
Project Update.
About this update from Pan African Resources Plc
[{"type":"text","content":"\n Pan African Resources PLC\n17 May 2006\n\n\n\n\n\n\n\n\n17th May 2006\n\n\n\n\n\n Pan African Resources plc\n\n ('Pan African' or 'the Company')\n\n\n\n Project Update\n\n Manica Project, Mozambique and Wa Project, Ghana\n\n\n\nManica Project (Mozambique) - Exploration update\n\n\n\nPan African Resources PLC (AIM: PAF), the African based gold exploration\ncompany, announces that a recently completed dipole-dipole geophysical programme\nat its Manica Project in Mozambique has delineated nine new drill targets\nadjacent to historically mined areas. In total these drill targets represent a\ncombined strike-length of 4.5km in the vicinity of Pan African's Dot's Luck,\nFair Bride North, Fair Bride West, Fair Bride East and Guy Fawkes prospects.\n\n\n\nThe new drill targets at the Dot's Luck and Fair Bride prospects represent\nstrike extensions of the Fair Bride Central prospect, which is the subject of a\npre-feasibility study on the potential of an opencast mine. The company is\ncurrently completing geological work that will see these targets tested by\ndrilling before year-end. The Dot's Luck and Fair Bride prospects occur along\nthe Andrada shear zone where the mineralization is conducive to possible\nopencast mining methods.\n\n\n\nPart of the recently completed geophysical survey also focussed for the first\ntime on prospective exploration targets adjacent to the Guy Fawkes underground\nmine. The mine historically mined narrow but high grade quartz veins. Four\nhistorical boreholes drilled by Pangea Exploration (Pty) Ltd in November 2003\nwithin part of the newly defined drill targets adjacent to the mine made\nintersections of:\n\n\n\n\nBorehole Mac002 3m @ 4.13g/t (from 9 to 12m)\nBorehole Mac003 1m @ 13.95g/t (from 54m to 55m)\nBorehole Mac006 1m @ 5.29g/t (from 92m to 93m)\nBorehole Macd002 1m @ 7.20g/t (from 109m to 110m)\n\n\n\nA re-sampled exploration drive (level 715) extending into one of the drill\ntargets has been re-mapped and sampled by Pan African geologists to give an\naverage value of 5.75g/t over an average width of 1.21 m along a strike-length\nof 80m (samples were taken across the roof of the exploration drive\nperpendicular to the strike of the reef at intervals of approximately 1.7m).\n\n\n\nJan Nelson, Chief Executive of Pan African, commented: 'Our exploration\nprogramme on the Manica Project is advanci...