Pan African increases resource at Manica and reserve at Phoenix Platinum

Pan African Resources annolumsden 95 vertical spindle rotary table surface grinderunced a significant increase in the mineral resource for its Manica gold project in Mozambique and a doubling of the metal mineral reserve for the Phoenix Platinum project in South Africa. This follows the significant increase in the mineral resource and reserve at Barberton Mines as announced at the end of May.

At Manica, the total mineral resource rose 16 percent to 2.97 million ounces of gold, contained in 50.554 million tonnes grading 1.82 grammes per tonne in situ. The total of Marica is made up of measured and indicated mineral resource of 1.38Moz, a 5 percent increase on the previous estimate, and an inferred resource of 1.58Moz, up 26 percent. The total mineral resource for the group has risen 22 percent to 5.67Moz. This is made up of a 3.43Moz measured and indicated gold, a 16 percent rise, and a 33 percent higher infereed resource of 2.24Moz. Pan African’s proved and probable reserve now stands at 1Moz, up 51 percent on the previous estimate. At Phoenix Platinum, the proved and probable reserve is now declared at 174,000oz 4E minerals: 56.6 percent platinum, 27 percent Palladium, 16 percent Rhodium and 0.5 percent gold. The new figure represents a 100 percnet rise on the previous estimate...