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Pan African Resources Plc
Summary
| Project: | Barberton Mines | |
|---|---|---|
| Deposit: | Royal Sheba | |
| Location: | South Africa | |
| Commodities: | Gold | |
| Date: | 9/6/2018 | |
| Report Code: | SAMREC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 6-9-2018: Pan African Resources Plc announces a Resource Estimation report for its Royal Sheba deposit at the Barberton Mines project. Updated mineral resource and new drill results at Royal Sheba deposit. The Company has also embarked on an extended expl | |
| Resources: | (Resource, Total): 8.56Mt @ 3.27g/t Au for 899Koz Au contained | |
| CP/QP: | [Resources]: Hendrik Pretorius (Internal) | |
| ABSTRACT: | The Company has also embarked on an extended exploration programme within Barberton Mines’ mining right at both Sheba and New Consort Mines around historic workings and for potential new satellite deposits.Pan African CEO Cobus Loots commented:“The exploration results from the drilling on Royal Sheba have exceeded our expectations, reaffirming the grades historically mined at depth. Significantly, the drilling programme has indicated the orebody extends to surface, with the potential to establish a new open pit mining operation in the short term, transitioning to an underground mining operation only after a number of years. In conjunction with the ongoing exploration programme, we will finalise a definitive feasibility study, with the view of commencing project development in the near term. I am also excited at the prospectivity of our mining lease namely; New Consort and Sheba Hills and proving similar near-surface resources from this extended exploration programme.Royal Sheba’s opencast orebody has the potential to increase production from our flagship Barberton operations at a very competitive cost, aligned with our strategic positioning as a low cost gold producer. We look forward to working with all stakeholders in advancing this project, to the benefit of not only shareholders, but also the Mpumalanga province and the Barberton area.We anticipate updating the market with a further MRE in November 2018 and a definitive feasibility study in February 2019.” | |
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