Gold mineralization extended on Pucamina
Pangea Goldfields Inc PGD
Shares issued 21,107,295 Aug 18 close $3.80
Tue 19 Aug 97 News Release
Also Sundust Resources Inc (SUN)
Mr Claude Britt reports
Final assaying results from the first phase drilling program have expanded
the mineralization on the Pucamina structure on the Victoria property in
Peru, where three major gold-bearing and polymetallic mineralized
structures have been identified to date. The cumulative strike length of
drill tested strong mineralization (greater than 3 g/t gold) for the
Atenea, Pucamina and Zone 4 structures now totals in excess of 1,000m over
widths of 3.0 to 23.0m. The mineralization at Zone 4 and Pucamina are open
along strike and all zones, including Pucamina, are open at depth.
With the positive results from this initial phase of drilling, Pangea
Goldfields has committed to a minimum of 5,000m of additional drilling
planned to resume following further detailed geophysical surveys and
completion of bench scale metallurgical testing of the mineralization for
each zone.
PUCAMINA: NEW RESULTS
Additional step out holes along strike were completed to confirm the
mineralization encountered from hole 22, which had returned 24.60m grading
3.87 g/t gold, 17 g/t silver including 4.5m grading 11.14 g/t gold and
51.70 g/t silver.
Drilled 50m to the west of hole 22, hole 24 returned values of:
22.75m grading 4.32 g/t gold and 8.35 g/t silver from 91.30 m to 114.05m,
including 7.25m at 9.22 g/t gold and 11.23 g/t silver from 94.75m to 102.00m.
Hole 26, drilled 210m west of hole 22 and testing a weak IP anomaly
interpreted to represent the extension of the Pucamina structure, returned
13.2m grading 1.81 g/t gold and 4.7 g/t silver from 71.8m to 85.0m
including 4.46 g/t gold and 6.55 g/t silver over 3.50m.
Holes 23 and 25 were drilled 50m and 20m east of hole 22 at vertical depths
of 60m and 125m, respectively. The drilling of hole 23 was hampered by
technical difficulties and poor core recoveries, and returned scattered
values grading up to 1.5 g/t gold over 1.55m. Hole 25 intersected two wide
zones of disseminated polymetallic mineralization: 14.3m of 0.84 g/t gold,
5 g/t silver and 1.3% combined lead-zinc from 124.30m to 138.60m followed
by 13.95m assaying 0.92 g/t gold, 7 g/t silver and 0.5% combined lead-zinc
from 153.25m to 167.20m, indicating a possible westerly plunge of the
mineralization.
Pangea manages all exploration work and is the operator of the Victoria
project, which it owns jointly with Sundust Resources.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com |
