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

To: Check who wrote (150)	11/19/1998 11:36:00 PM
From: Jimsy	Respond to of 1178

NEWS RELEASE PGD. (TSE) Attention Business Editors: Reverse circulation drilling confirms high-grade gold at Tulawaka TSE Symbol: PGD TORONTO, Nov. 19 /CNW/ - Pangea Goldfields Inc. reported today initial results from the current reverse circulation (RC) drilling program have confirmed the high grade gold values obtained in the earlier first-phase rotary air blast (RAB) drilling program. The current 6,000-meter program is testing two mineralized zones referred to as the East Zone and the West Zone. On the East Zone, hole TRC-2 returned 13.71 g/t gold from 10 to 21 meters. This hole was drilled five meters from RAB hole 26 which had intersected 13.8 g/t over 15 meters. Hole TRC-1 was collared 30 meter north of TRC-2 on the same section 7000 and intersected 25.3 g/t from 34 to 63 meters in the main vein with an estimated true width of 18 meters. Hole TRC-1 also intersected a hanging wall vein grading 30.15 g/t from 19 to 23 meters. Holes TRC-9 and 10 are angle holes drilled 30 meters apart and 170 meters west of holes TRC-1 and 2. These holes returned up to 19.34 g/t over 16 meters and 6.72 g/t over 12 meters respectively. On the West Zone, holes TRC-4 and 5 were drilled 30 meters apart on section 2500 and returned up to 5.3 g/t over 7 meters and 13.86 g/t over 11 meters respectively. << The following table summarizes the results of the first eight RC holes: ------------------------------------------------------------------------- Zone Section HOLE From To Length Gold Gold g/t High assays cut to 34 g/t ------------------------------------------------------------------------- East Zone 7000 TRC-1 19 23 4.0 30.15 21.12 ------------------------------------------------------------------------- 34 63 29.0 25.30 8.89 ------------------------------------------------------------------------- 7000 TRC-2 1 4 3.0 7.94 7.94 ------------------------------------------------------------------------- 10 21 11.0 13.71 13.71 ------------------------------------------------------------------------- 6830 TRC-9 17 33 16.0 19.34 9.96 ------------------------------------------------------------------------- 6830 TRC-10 48 53 5.0 16.97 12.51 ------------------------------------------------------------------------- 63 75 12.0 6.72 4.74 ------------------------------------------------------------------------- West Zone 2500 TRC-4 13 26 13.0 1.05 1.05 ------------------------------------------------------------------------- 35 39 4.0 1.08 1.08 ------------------------------------------------------------------------- 57 64 7.0 5.30 4.94 ------------------------------------------------------------------------- 2500 TRC-5 3 6 3.0 4.82 4.82 ------------------------------------------------------------------------- 34 45 11.0 13.86 8.83 ------------------------------------------------------------------------- 2840 TRC-7 2 15 13.0 3.11 2.73 ------------------------------------------------------------------------- 37 44 7.0 1.50 1.50 ------------------------------------------------------------------------- 2840 TRC-8 low values ------------------------------------------------------------------------- >> Note: Results from holes TRC-3 and TRC-6 have not yet been received. Drilling results to date have returned several assays greater than 34 g/t gold (one ounce/ton). Cutting assays to 34g/t is purely arbitrary at this time and a proper geostatistical study following completion of this program will determine a more appropriate value for cutting high assays. These results indicate good continuity of the high-grade mineralization at depth and confirm a northwest/southeast trend for the mineralized zones. The remainder of this drill program will focus on extending the mineralization along strike. The Tulawaka project is a 70/30 joint venture between Pangea Goldfields and Explorations Minieres du Nord Ltee of Montreal, with Pangea acting as the operator. NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. Access previous PANGEA press releases on Canada Newswire's Website: www.newswire.ca %SEDAR: 00002427E -30- For further information: please contact PANGEA at (416) 350-3781: Jean-Charles Potvin, President, ext. 227; Claude Britt, VP Exploration, ext. 225; Bill Cavalluzzo, Manager, Investor Relations, ext. 230, by fax at (416) 350-3782 or by E-Mail at bcavalluzzo@pangeagoldfields.com PANGEA GOLDFIELDS INC. has 32 releases in this database.