CDN-listed Pangea Goldfields has received conditional approval to begin trading on the Toronto Stock Exchange, with final approval expected within the next four weeks.
Also, the company has acquired more ground in Tanzania, with the addition of two separate but contiguous concessions known as the Golden Ridge property. Situated in the Lake Victoria Goldfield district, the property comprises 100 sq. km and is underlain by a gold-bearing banded iron formation with a 15-km strike. A number of grab samples and channel samples, ranging in length from 6 to 14 metres, have been taken. Assays from grab samples range up to 48.5 grams gold per tonne, while the aggregate average of 12 channel samples was 10.7 grams over an average width of 10.4 metres. Drilling is expected to start in late August.
Pangea is also active on another Tanzanian property, known as the Bulyanhulu South. Preliminary results from geochemical and geophysical surveys are said to correlate well and indicate signatures comparable to those obtained on the Bulyanhulu property to the north.
Here, too, drilling is scheduled to start in late summer.
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