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Gold/Mining/Energy : Pangea Goldfields T.PGD

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To: timbouctou who wrote (967)	5/16/2000 1:31:00 PM
From: Ptaskmaster	Read Replies (1) of 1178

Pangea Finds Significant Gold Mineralization On Bulyanhulu South Project. "Pangea Goldfields announced today that significant gold mineralization has been intersected in a recently completed drill program at its Bulyanhulu South property in Tanzania. Intercepts of 12.97 grams/tonne gold over 4 meters and 3.22 grams/tonne over 6 meters were returned and a number of gold targets warranting further work were identified. The strategically located, 108-square kilometer property lies directly south and on strike with Barrick Gold Corporation's 10.4 million-ounce Bulyanhulu deposit. "Three gold showings on the property have reinforced models of a similar structural and mineralogical setting as the Bulyanhulu deposit. These positive results highlight the Bulyanhulu South property as one of the most geologically prospective properties in the Lake Victoria Goldfields where a total of 35 million ounces of gold have been discovered to date. "In the current program, 23 reverse circulation (RC) drill holes totaling 4544 meters were completed on three targets with the best results obtained on the 14300N zone. Five other targets warrant follow-up with RC and rotary air blast (RAB) drilling." pangeagoldfields.com biz.yahoo.com

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