Pangea drilling program confirms the continuity of Fenn-Gib mineralization

Diamond drilling has confirmed the continuity of mineralization at Pangea Goldfields’ (TSE) Fenn-Gib gold property in Guibord Twp., east of Matheson, Ont.

The program of 11,500 metres of infill and definition drilling is part of the company’s ongoing feasibility study on the deposit. Feasibility work to date has been based on a minable reserve of 3.5 million tonnes at an average grade of 4.6 grams gold per tonne. Pangea expects to see an increase in the average grade as new drill results show higher grades in parts of the deposit.

Drilling in the Deformation zone, down-plunge from the deposit’s Main zone, has encountered gold grades of 5.2-8.7 grams over core lengths up to 23.1 metres.

The drilling also intersected another mineralized zone parallel to the Deformation zone. Intersections 1.5-5 metres long carried gold grades of 6.2-27.1 grams.

Additional feasibility work has indicated shallow bedrock depths and confirmed sources of aggregate on the property.

Also near Matheson, Tandem Resources (ME) and NAR Resources (ME) report that drilling on their Windsor property has encountered 3.3 metres of mineralization grading 13.7 grams gold per tonne.

Patrician Gold Mines (ASE) has dropped its option on the Winteroad property in Garrison Twp., 15 km east of Fenn-Gib. The company has decided to concentrate on its African projects.

West of the Winteroad property, in Michaud Twp., Barrick Resources (TSE) is drilling follow-up holes on a property optioned from Moneta Porcupine Mines (TSE).

In one recent phase of drilling, Barrick intersected a mineralized zone grading 2.1 grams gold over 68 metres, including a 9.3-metre section grading 5.7 grams.

Another Barrick hole cut 17.8 metres of mineralization grading 3.7 grams per tonne including 4.5 metres grading 12.9 grams.

Results released in the last week show more mineralization, held in quartz-carbonate-pyrite veins in carbonatized and silicified wall rocks. In hole MM96-170, a 4.6-metre intersection returned a gold grade of 9.1 grams per tonne, including a 1.7 metre intersection with a grade of 23.1 grams.

In MM96-172, a 6.3-metre section showed a grade of 2.97 grams per tonne, and a separate 1.3-metre intersection graded 22.47 grams.

A third hole, MM96-175, extended south across the property boundary to another Moneta claim group, where Barrick is earning a 70% interest and Nufort Resources (TSE) holds a royalty. This hole cut four mineralized intersections, three of which were on the southern property.