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Wednesday, 27th June 2007 (2835 views)

Pan African Mining's detailed mapping of the Machinga gold mine in Mozambique has revealed gold associated with sheer zone structure quartz veins.

In addition, the project has also found near-surface gold of "significant values".

Commenting on the discovery, Irwin Olian, chief executive of Pan African Mining, said that the firm was "delighted" with the discovery, which was made as part of a joint venture with Manica.

"Drill targets have already been generated at the old Machinga gold mine and we look forward to diamond drilling within the next two months," he continued.

Mr Olwin also said that Pan African Mining's Mozambique projects "have the potential to generate added value for our shareholders" and that the next year was set to be an "exciting" one, with core drilling expected to be carried out on four "major projects".

The mining firm states that it is currently drilling for gold and other minerals across 7,500 sq km of diversified mineral properties.

 

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