Pangea advances gold projects

Exploration efforts on Pangea Goldfields’ (TSE) Tanzanian gold projects continue to yield encouraging results.

The company has completed 3,700 metres of reverse-circulation (RC) drilling and 1,000 metres of diamond drilling at its Golden Ridge project. The holes were drilled to evaluate the gold potential of the oxidized portion of the outcropping sections of an extensive and highly folded banded iron formation (BIF), which has been traced geophysically over a linear strike length of 25 km.

Assay results have been received from about half of the RC holes, and some of the better intersections to date include: 8.9 grams gold per tonne over 21 metres in hole GR576; 6.9 grams over 30 metres in hole GR523; 5.13 grams over 5 metres in GR582; and 4 grams over 7 metres in GR555. Most holes were drilled perpendicular to the iron formation, resulting in core lengths that are nearly true width.

Preliminary geological interpretation indicates that the mineralization is associated with 10-to-30-metre-wide bands of carbonate and sulphide facies iron formation in contact with mafic-to-intermediate volcanics. Shoots grading greater than 6 grams gold occur within an extensive mineralized envelope grading 1 to 2 grams. Some holes have shown that the gold mineralization extends into the volcanics in the footwall, which remain virtually untested.

The BIF is also cut at right angles by a series of mineralized, 10-to-60-cm-thick quartz “ladder” veins. These veins, which are frequently exploited down to the water table by artisanal miners, are seldom intersected in drilling because of the parallel orientation of the veins with the drill holes. Hole GR523, which returned 6.92 grams over 30 metres, was drilled perpendicular to the ladder vein structures, indicating that these veins can add significantly to the gold grades of the mineralized zones. Nine diamond drill holes totaling 1,000 metres were also completed. The oxidized nature of the rock resulted in an average core recovery of 60%, with lower recovery in some mineralized sections. The oxide-sulphide transition occurs at a depth of about 50 metres.

Sulphide facies iron formation consists essentially of pyrite and pyrrhotite, with minor arsenopyrite. Previous metallurgical tests on oxidized material demonstrated that it would be amenable to heap leaching.

The best results from the diamond drill program include: 3.86 grams gold over 6.25 metres in hole GR4; 4.19 grams over 9.6 metres in GR5; and 3.61 grams over 8.41 metres in GR9.

In this initial phase, about 9 km of the BIF were tested. The remaining 16 km of the formation is under laterite cover and will be tested in the near future.

Elsewhere on the Bulyanhulu South property, seven major gold targets have been identified, through geochemical and geophysical surveys. Gold values of up to 9 grams have been found in soil samples, suggesting the presence of mineralization in the underlying bedrock. Geophysical readings also indicate the presence of conductors concordant with the geochemical anomalies. Pangea says these results compare favorably with those obtained at Bulyanhulu, a major gold deposit lying 500 metres north of the company’s property boundary. Extensive drilling undertaken at Bulyanhulu several years ago identified at least 1.5 million oz. along a strike length of 1,200 metres to a depth of nearly 300 metres.

Pangea has initiated an RC program which will be followed by diamond drilling. Results are expected in January.