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Pan African boosts gold reserves

Pan African boosts gold reserves

Pan African Resources plc has reported a 51% increase in gold reserves at its gold operations near Barberton in South Africa.

The project now has a reserve of 3.83Mt at a grade of 8.12g/t for 1Moz of gold. The mineral resource has increased by 7% to 2.55Moz of gold.

The new figures are the result of a three-year “integrated mineral resource management programme”, which involved 37,915m of drilling, 5,494m of development and a £6 million (US$10 million) capital investment.

In addition, the company says it has identified a geographic anomaly that is larger than the mining footprint at the Fairview Mine where over 4Moz have been mined to date.
The company produces about 100,000oz/y from its Barberton mines.

 
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