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Monday, 10th March 2008 (4140 views)

Resources at the Manica gold project in Mozambique in south-east Africa have been increased by ten per cent, reports say.

According to Mining Weekly, the company behind the project, Pan African Resources, said optimisation work at the site combined with the discovery of new, high-grade zones had increased the amount contained gold at the property to 1.7 million ounces.

Average gold grades for this resource have also been increased from 2.96 g/t gold to 4.61 g/t gold.

Gold resources at another Pan African project, Fair Bride, have also been increased through an ongoing feasibility study, the magazine said.

Fair Brides total resources are now put at 1.3 billion ounces of gold graded at 5.49 g/t, it said.

Pan African chief executive Jan Nelson said the results have "significantly exceeded" the company's expectations.

Pan African's other projects include the Akrokerri project in Ghana, the Dekoa project in the Central African Republic and the Fairview mine in South Africa.

 

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