Pan African Resources just released exploration results for its Royal Sheba Project. The total mineral resources have been declared and signed off by independent mining consultant SRK at 0.8Moz. Near surface mineral resource increased by 6% from previous estimates to 0.37Moz and is conducive to open-pit mining while underground mineral resource was at 0.39Moz.
The company has also commenced an extended exploration drilling programme at the Barberton Mines to target the Main Maiden Reef orebody as a potential satellite deposit to the Royal Sheba project.
Mineralisation ranges at Barberton were reported in a width from 5m to 25m, with in-situ gold grades ranging between 0.5g/t to 376g/t and averaging 3.14g/t. The mineral resource estimate, which is considered conservative, exhibits a high level of confidence with the company’s belief of further exploration upside.
Pan African CEO Cobus Loots commented: “We are excited by the further prospectivity of our mining lease specifically New Consort, where drilling has recently commenced to identify similar near-surface mineral resources at the Main Maiden Reef orebody, targeting 0.2Moz to 0.3Moz at an in-situ grade of between 2g/t and 4g/t.”