Business
Resource Upgrade
Resource Upgrade.
About this update from Pan African Resources Plc
[{"type":"text","content":"\n Pan African Resources PLC\n10 September 2007\n\n\n10 September 2007\n\n\n Pan African Resources PLC\n\n ('Pan African' or the 'Company')\n\n Manica Project: Resource Upgrade and Drilling Results\n\n\nPan African Resources PLC (AIM: PAF, AltX: PAN), the African based gold mining\nand exploration company is pleased to announce an increased resource at the\nManica gold project in Mozambique and report an increase in grades resulting\nfrom the ongoing exploration drilling programme.\n\n\nHighlights:\n\n •Increase in the Manica resource of 18% to 1.550Moz contained gold\n compared to the previously reported 1.311Moz.\n •Confirmation of higher gold grades at the Fair Bride prospect\n •Further 15,600m exploration drilling planned at Manica for completion by\n Q4 2007\n\n\nThe total Manica resource was upgraded from 1,311Moz at 2.89g/t to 1.550Moz at\n2.96g/t. The resource at the Fair Bride prospect has been increased by 20% to\n1.245Moz as part of the ongoing pre-feasibility study that is planned for\ncompletion in Q1 2008. The revised resource statement for the Manica project is\nas follows:\n\nMANICA EXPLORATION PROJECT - MEASURED MINERAL RESOURCE\n\nProspect Category Tonnes Grade (g/t) Gold (kg) Gold (oz)\nFair Bride Measured 3,120,000 2.98 9,300 299,200\n------------ -------- --------- --------- --------- --------\n 3,120,000 2.98 9,300 299,200\n------------ -------- --------- --------- --------- --------\n\nMANICA EXPLORATION PROJECT - INDICATED MINERAL RESOURCE\n\nProspect Category Tonnes Grade (g/t) Gold (kg) Gold (oz)\nFair Bride Indicated 2,110,000 2.47 5,200 167,900\nGuy Fawkes Indicated 2,150,000 2.44 5,200 168,300\n------------ -------- --------- --------- --------- --------\n 4,260,000 2.46 10,400 335,800\n------------ -------- --------- --------- --------- --------\n\nMANICA EXPLORATION PROJECT - INFERRED MINERAL RESOURCE \n\nProspect Category Tonnes Grade (g/t) Gold (kg) Gold (oz)\nFair Bride Inferred 7,500,000 3.23 24,200 778,300\nGuy Fawkes Inferred 600,000 2.80 1,700 56,000\nDot's Luck Inferred 500,000 3.35 1,500 49,600\nBoa Esperanca Inferred 300,000 2.96 1,000 31,200\n------------ -------- --------- --------- --------- --------\n 8,900,000 3.20 28,400 915,100\n------------ -------- --------- --------- --------- --------\n\nMANICA EXPLORATION PROJECT - TOTAL MINERAL RESOURCE\n\nAll Prospects 16,280,000 2.96 ...