Pangea uncovers gold mineralization in Tanzania

Partners Pangea Goldfields (PGD-T) and Explorations Minires du Nord (MDN-M) have discovered significant gold mineralization on the Kanegele block in the Lake Victoria Goldfields district of Tanzania.

A first phase of reverse-circulation and rotary air-blast drilling has been completed on the Kanegele block, one of three prospecting licences (along with Mega and Northeast Nungwisa) that make up the Kanegele project.

This reconnaissance drilling has been designed to test broad, geochemically anomalous zones up to 3 km long and 400 metres wide. Geochemical anomalies coincident with induced-polarization (IP) and magnetic anomalies were given the highest priority.

The best intersections, all of which were fewer than 62 metres below surface, assayed as follows: 18.38 grams gold per tonne over 6 metres; 4.82 grams over 3 metres; 7.68 grams over 9 metres; 4.09 grams over 5 metres; 5.78 grams over 2 metres; 2.55 grams over 3 metres; 1.42 grams over 10 metres; and 0.46 gram over 26 metres.

All the drilling was shallow, and the mineralized zones remain open at depth and in all other directions. The partners plan to launch an intense program of follow-up drilling before the end of the year.

Results from drilling on Northeast Nungwisa and Mega, as well as from additional holes on Kanegele, are expected shortly.

To earn half of Pangea’s interest in the Kenegele project, Minire du Nord must spend US$2 million before the end of 1999. Pangea acts as operator of the project, while South African major Randgold can earn a 65% interest by spending US$4 million and completing a bankable feasibility study.

Meanwhile, in Peru, the Pucamina gold zone has been extended on the Victoria property, which Pangea owns jointly with Sundust Resources (SUN-M).

Hole 24 confirmed mineralization found in a previous hole on Pucamina, hitting 22.75 metres grading 4.32 grams gold and 8.35 grams silver (including 7.25 metres grading 9.22 grams gold and 11.23 grams silver).

Hole 26 was drilled 210 metres west of hole 22 and tested a weak IP anomaly.

The hole returned 13.2 metres grading 1.81 grams gold and 4.7 grams silver (including 4.46 grams gold and 6.55 grams silver over 3.5 metres).

Holes 23 and 25 were drilled 50 metres and 20 metres, respectively, east of Hole 22 at vertical depths of 60 metres and 125 metres. The drilling of Hole 23 was hampered by technical difficulties and poor core recoveries. It returned scattered values grading up to 1.5 grams gold more than 1.55 metres. Hole 25 intersected two zones of disseminated polymetallic mineralization: 14.3 metres of 0.84 gram gold, 5 grams silver and 1.3% combined lead-zinc, followed by 13.9 metres of 0.92 gram gold, 7 grams silver and 0.5% combined lead-zinc.

The cumulative strike length of drill-tested mineralization for the Atenea, Pucamina and Zone 4 structures is now more than 1,000 metres, with widths varying from 3 to 23 metres. The mineralization at Zone 4 and Pucamina is open along strike, and all three zones are open at depth.

Pangea has committed to a minimum of 5,000 metres of additional drilling, which it plans to resume following further geophysical surveys and completion of bench-scale metallurgical testing of the mineralization in each zone.

Pangea Goldfields manages all exploration work and is the operator of the Victoria project.