Pangea hits high grade

Infill drilling by Pangea Goldfields (PGD-T) has encountered more high-grade gold mineralization at the Tulawaka property in Tanzania’s Lake Victoria Goldfields district.

Tulawaka is a joint venture owned 70% by Pangea and 30% by Montreal-based Explorations Minieres du Nord (MDN-M). It is one of several properties held by Pangea in the emerging mining district, where an estimated US$400 million is scheduled to be invested in the next several years on five new gold mines. The geological setting has similarities to producing gold camps in eastern Canada and Australia.

In Pangea’s latest 4,822-metre program, 2,997 metres in 37 holes tested the East zone, which is characterized by high-grade gold mineralization associated with quartz veins. This zone is viewed as a potential candidate for development, owing to its high grades and simple geometry.

This drilling returned numerous high-grade assays, including 39 metres grading 12.7 grams gold per tonne in hole 91, and 22 metres grading 14.6 grams gold in hole 100. Other high-grade results include: 10 metres of 10.2 grams, 10 metres. of 18.7 grams and 10 metres of 12.23 grams.

Eight holes tested the West zone and returned generally lower grades. The program also tested several geochemical anomalies, with most of the holes containing anomalous values of gold over narrow widths.

The deepest mineralized intersection to date at Tulawaka lies at a vertical depth of 70 metres. Both known zones are open at depth.

The Tulawaka project covers 355 sq. km, and includes the western extension of the Rwamagaza greenstone belt, host to numerous gold deposits in the region, including Barrick Gold’s newly acquired Bulyanhulu gold deposit. However, the greenstone belt does not outcrop at Tulawaka. A blanket soil geochemical program is credited with having outlined seven gold anomalies, four of which were subjected to followup work. Since then, Pangea has primarily focused its efforts on expanding known mineralization. More drilling is planned, along with metallurgical testwork.

Pangea’s 30%-owned Kahama project is its most advanced property in Tanzania. At last report, the Chocolate Reef at Kahama hosted 26 million tonnes grading 2.3 grams gold per tonne (1.9 million contained ounces), based on a cutoff grade of 0.5 gram. The reef resource contains a high-grade zone totalling 5.6 million tonnes averaging 5.72 grams (1 million oz.) based on a 3-gram cutoff grade.