An agreement between a private company and Pan African Resources (PARC-C) gives that company the option to acquire a 75% interest in the Ndori gold property in southwestern Kenya.
Pan African recently began earning its interest by paying the private party US$600,000. In addition to the required US$1.2 million in exploration work (divided equally over two years), the company must relinquish 50% of the original 1,300-sq.-km property after two years and a further 25% in the following year.
The Ndori property contains numerous, small-scale past-producers which concentrated on narrow, high-grade quartz veins in excess of 10 grams gold per tonne. However, based on previous exploration work, Pan African believes the area has potential for low-grade, large-tonnage, bulk-minable, quartz reef-hosted, shear zone-hosted and intrusive-related deposits.
To identify such deposits, the company has initiated a property-wide termite mound sampling program, as well as a mapping program aimed at old workings.
Three of these old mines — Ngiga, Coronation and Kidson — were previously calculated to host 100,000 tonnes grading 11.4 grams gold, 100,000 tonnes grading 13.7 grams gold and 75,000 tonnes grading 9.5 grams gold.
The company will follow up current programs with auger drilling and trenching to define targets with bulk-tonnage potential.
Pan African is a 58% subsidiary of Golden Star Resources (GSC-T), which holds interests in gold and diamond properties in South America and Africa.
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