Pan African Resources PLC Explores Extensions of Ore Bodies At Barberton Mines with Recently Completed Underground Drilling Programme
Pan African Resources PLC advised shareholders that drilling into the down-dip extents of the ore bodies yielded successful and significant high-grade drilling results, with visible gold in several drill intersections and development ends. Fairview Mine exploits some of the grade gold ore bodies globally, with the Main Reef Complex (MRC) averaging over 40g/t with a mining width in excess of 6m and the Rossiter Reef averaging around 20g/t over a mining width of circa 2.5m. Additional Mineral Reserves with average grades of nearly 15g/t are also extracted at the Fairview Mine, including the Hope Reef. The MRC, being mined below 64 Level, is the grade orebody currently being extracted at Barberton Mines. A total of six diamond drill holes were recently completed to explore the immediate down-dip extent from the currently mined platform (258) to the next platform (259). These drill holes resulted in the delineation of the Mineral Resource on the 259 platform elevation of an estimated 24.5kt at 42.6g/t. A single platform at Barberton Mines is currently mined over a period of approximately 3 years. The down-dip of this orebody is still open and informs the 20 year life of mine of the Fairview operation. Mining of the Rossiter Reef occurs on the 52 Level elevation. The up-dip and down-dip extents of the Rossiter Reef remain open. Eleven diamond drill holes have been drilled into the 54 Level down-dip target of the Rossiter Reef. The boreholes drilled intersected significant free gold mineralisation with grades ranging from 29g/t over 2.9m to 165g/t over 0.7m, in different boreholes. The combined drilling results yielded an additional Mineral Resource block of an estimated 3.6kt grading 55.3g/t, which will support mining in the next financial year. The Hope Reef is mined on 64 Level at an average grade of 6g/t, with both the down-dip and the up-dip extents of the orebody being open. Reserve delineation of this ore body targeted the up-dip continuation up to 58 Level with a total of 15 underground diamond holes drilled to delineate the up-dip extent. These boreholes resulted in an additional Mineral Resource block with an estimated 25kt grading 7.5g/t, to supplement Fairview Mine’s overall Mineral Resources. Mining at Sheba Mine recently progressed into the down-dip Mineral Resources of the ZK ore body on 37 Level. The ZK ore body is typically a free gold carrying deposit. A total of ten diamond holes have been drilled to explore the ZK orebody between the 37 Level and 38 Level elevations. These drill holes were utilised to upgrade the existing Inferred Mineral Resource block to the measured category, and contains an estimated 3kt at 5.2g/t. Additionally, shallow Mineral Resources on the Northern Limb at 22 Level elevation were explored with an initial two diamond boreholes. Hole 23GM12 yielded 2.3g/t over 1m, 23GM11 yielded 7.2g/t over 1m and 8.3g/t over 1m in two successive structures. Eight additional boreholes into this ore body are planned for in the next financial year (FY23). On 23 Level, a further eleven diamond holes were drilled to explore the up-dip extent of the 260 Cross Fracture. Results of the drilling ranged from 10.7g/t over 0.7m to 184.2g/t over 0.8m. All the drill hole results, of which an extract of high-grade intersections from two boreholes. Following the successful intersection of the high-grade, free gold-yielding orebody at 42 Level PC shaft at Consort Mine, a Reserve delineation drilling programme was planned to explore the down-dip continuation of this high-grade ore body. Borehole 45BH5 intersected a high-grade free gold carrying structure at the 44 Level elevation, indicating the down-dip extent of the 42 Level ore body for at least another two levels. The assay results from this intersection yielded 72.8g/t over 0.86m. All the drill hole results will be taken into account to update the Group’s Mineral Resource and Mineral Reserve models, and will be presented with the Company’s annual results on 14 September 2022. The Barberton Mines exploration results (in relation to substantial mineral assets) comply with the SAMREC Code, as per paragraph 12.12(a) of the JSE Listings Requirements. The listed drill holes yielded additional Mineral Resource blocks in excess of 58kt at an average grade over 25g/t, combined.