Having sold an 80% stake in the Eteke permit in Gabon, Pan African Resources (PARC-C) intends to step up the pace of exploration at its Kolissen property in the central portion of that African nation.
Adrian Fleming, Pan African’s president, says that while Eteke hosts small, high-grade gold deposits, the company has not been able to define a mining reserve of 2 million oz. or better.
“Without that kind of potential at Eteke, our continued efforts in Gabon are better served by focusing on Kolissen,” he says.
Pan African holds a 100% interest in the Kolissen exploration permit, which covers about 2,670 sq. km, some 50 km east of the town of Lambarene. The property has a history of gold production starting in the 1930s.
The main target at the property is a 2.5-km-long-by-500-metre-wide zone of elevated gold values, as defined by previous soil and auger geochemistry, pitting and limited core drilling.
Pan African notes that the anomalous zone appears to be related to a major shear structure. In addition to follow-up work on the main target, the company intends to continue regional exploration over the entire property.
Pan African is also active in Mali, Ivory Coast, Ethiopia, Eritrea and Kenya.
The junior company is owned 58% by Golden Star Resources (GSC-T).
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