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Gold/Mining/Energy : Pangea Goldfields T.PGD -- Ignore unavailable to you. Want to Upgrade?

To: salva who wrote (427)	11/4/1999 12:54:00 PM
From: Giraffe	Read Replies (1) \| Respond to of 1178

How's this? You need to select "use fixed font" to get tables to look right. Thursday November 4, 11:30 am Eastern Time Company Press Release Pangea Continues To Expand High-Grade Mineralized Zone At Depth At Tulawaka Project TORONTO, ONTARIO-- Deep intercepts include 25.84 grams/tonne gold over 14 metres Pangea Goldfields Inc. today released additional results from the continuing drill program at the Tulawaka project in Tanzania. The results, which include numerous high-grade intercepts such as 25.84 grams/tonne gold over 14 metres and 17.71 grams/tonne gold over 15 metres, continue to confirm an expanding high-grade system of gold mineralization at depth and along strike. Pangea management believes these results will add significantly to the overall resource which remains open at depth. Based on these very encouraging results, Pangea will continue its aggressive drill program utilizing one diamond drill rig and one high capacity reverse circulation (RC) drill rig mobilized in October to accelerate the program. At the East Zone, the drilling to date has identified at least three plunging ore shoots over a strike length of about one kilometre. In one area, a stacked vein system has been identified with up to four veins of two to five metres in thickness having been intersected in several holes. In another area within the East Zone, the dip or angle of the main vein system flattens from 50 degrees to 20 degrees below a vertical depth of 75 metres, which increases the potential resource that could be mined by open pit. Earlier in this program, systematic RC drilling of talus mineralization on 12.5-metre centres had defined two high-grade mineralized areas. A total of 137 holes outlined a mineralized area of 250 metres by 60 metres with an average grade of 13.18 g/t gold over an average thickness of 3.0 metres. A second mineralized area 350 by 40 metres was outlined with 77 holes with an average grade of 10.46 g/t gold over an average thickness of 4.18 metres. The mineralization in both areas remains open to the south. The Tulawaka project is a 70/30 joint venture between Pangea Goldfields Inc. and Explorations Minieres du Nord Ltee of Montreal, with Pangea acting as the operator. Pangea also has drilling underway in Tanzania at Golden Ridge, where joint-venture partner Barrick Gold has contracted four rigs to complete a 20,000-meter diamond drill program, and at the Kakindu project located east of Tulawaka. In addition, an initial RAB drill program has been completed at the recently acquired, 100% owned Imwero project in the Geita camp and results will be released shortly. The recent drill results from Tulawaka are summarized on the following table. NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. Access previous PANGEA press releases on our Website: www.pangeagoldfields.com TULAWAKA DRILL RESULTS - EAST ZONE ------------------------------------------------------------------------ Section Hole # Grade Gold Core Length From (m) To (m) Comments g/t (m) ------------------------------------------------------------------------ 7455 TRC 324 Low Values 7220 TRC 338 5.19 3 127 130 More assays pending ------------------------------------------------------------------------ 7175 TRC 323 25.93 7 105 112 ------------------------------------------------------------------------ TRC 337 7.32 3 83 86 ------------------------------------------------------------------------ TDD 7 17.41 1.25 127.5 128.75 ------------------------------------------------------------------------ TDD 9 Low values ------------------------------------------------------------------------ 7125 TRC 339 17.23 9 95 104 ------------------------------------------------------------------------ TRC 345 11.13 12 87 99 ------------------------------------------------------------------------ 7075 TRC 331 31.54 7 106 113 ------------------------------------------------------------------------ TRC 340 17.76 7 80 87 ------------------------------------------------------------------------ 7040 TRC 341 25.84 14 98 112 ------------------------------------------------------------------------ TRC 344 11.10 1 147 148 ------------------------------------------------------------------------ 7025 TRC 332 6.28 2 31 33 ------------------------------------------------------------------------ 6990 TDD 10 11.88 2.7 0.8 3.5 Diamond twin of TRC 2 ---------------------------------------------------------- 15.97 7.8 7.85 15.65 ------------------------------------------------------------------------ 6890 TDD 8 Low Values ------------------------------------------------------------------------ 6860 TRC 330 6.60 13 16 29 ------------------------------------------------------------------------ 6785 TRC 334 3.25 2 73 75 ------------------------------------------------------------------------ TRC 327 17.71 15 24 39 ------------------------------------------------------------------------ TRC 343 27.08 2 115 117 ------------------------------------------------------------------------ 6740 TRC 325 10.22 4 62 66 Stacked veins -------------------------------------------------------- 12.88 4 94 98 ------------------------------------------------------------------------ TRC 326 2.24 2 40 42 ------------------------------------------------------------------------ TRC 336 42.40 1 57 58 Stacked veins More assays pending -------------------------------------------------------- 4.65 2 89 91 -------------------------------------------------------- 4.03 5 108 113 -------------------------------------------------------- 1.85 3 139 142 ------------------------------------------------------------------------- 6705 TRC 342 5.05 1 39 40 More assays pending ------------------------------------------------------------------------- 6680 TRC 333 1.80 8 56 64 ------------------------------------------------------------------------- 6650 TRC 329 5.15 2 88 90 ------------------------------------------------------------------------- TRC 328 2.43 2 32 34 ------------------------------------------------------------------------- -------------------------------------------------------------------------------- Contact: Pangea Goldfields Inc. Jean-Charles Potvin President (416) 350-3781 ext. 227 or Pangea Goldfields Inc. Claude Britt VP Exploration (416) 350-3781 ext. 225 or Pangea Goldfields Inc. Bill Cavalluzzo Manager, Investor Relations (416) 350-3781 ext. 230 (416) 350-3782 E-Mail at bcavalluzzo@pangeagoldfields.com