Having optioned its Tanzanian projects to several major mining houses, Pangea Goldfields (TSE) is acquiring interests elsewhere in Africa.
The company has acquired 20 prospecting licences in Uganda. The bulk of them are in the southwest and southeast, within the Precambrian greenstone terrane that also hosts Pangea’s Tanzanian properties. Three are in the northern part of the country, in the West Nile and Aswa River areas, and another is in the Kafu River area, between Lakes Victoria and Albert. All the licence areas have small-scale mining operations, either past or present.
The company has been granted an exploration licence by the government of Mali for a 411-sq.-km area adjoining the border between Mali and Guinea. Pangea will spend US$1.5 million over three years. The Malian government retains a 20% interest in the licence area, called Foulaboula.
Foulaboula is in Birimian greenstones of the West African Shield and lies on a north-trending structure that connects several gold deposits in Western Mali. Kalana, 15 km south of Foulaboula, has a resource of 1.4 million oz. and is being explored by a joint venture of Ashanti Goldfields and JCI.
The Foulaboula area has been explored by the Malian government, and has received foreign aid work from the United Nations Development Program and the government of Japan. A total of 150 line-km of ground magnetic, electromagnetic, and induced-polarization (IP) surveying has been carried out.
Geochemical sampling of the laterite cover has outlined four areas, with gold concentrations of 100-3,100 parts per billion, with widths varying from 300 to 500 metres and a total strike length of 3 km. The IP survey detected two chargeable zones parallel to the geochemical anomalies, and test pits returned average gold contents of 1-2.5 grams per tonne over 5 metres.
Pangea has test-pitting and drilling planned for the prospect, and will be running geophysical surveys over target areas on the rest of the property. It has also applied for two other licences in Mali.
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