Akrokerri Exploration Project

Akrokerri Exploration Project in Ghana - Technical Summary (March 2008 | PDF file | 181 KB | 7 Pages)

Introduction and Location

Akrokerri Gold Project
The Akrokerri property, acquired on 28 June 2007, lies 10 kilometres north-east of the AngloGold Ashanti mine in Obuasi. It covers an area of 26km2 and has five defined exploration targets. There is a historical mine located at the southern area of the Akrokerri licence area. The mine operated, between 1905 and 1909, from two shafts on five levels and exploited a quartz vein averaging 1.5m wide at an average grade of 24.6g/t.

Kyereboso Gold Project
The Kyereboso property, earn-in agreement announced on 20 February 2008, is in close proximity to the Akrokerri property. The exploration licence covers 16km2 . Advanced exploration play with major drill defined exploration targets, a database consisting of information compiled over a 12 year period. The dataset contains information on 1070m of mapped underground adits, soil and stream sampling grids, ground geophysics, three dimensional structural modelling and 2200m of RC and core drilling. Some of the highest grade intersections from historical holes drilled on the property include; 15,2m @ 2.3g/t, 11m @ 3g/t, 13.4m @ 2.3g/t, 31m @ 2.1g/t, 24m @ 5g/t, 3m @ 8.9g/t and 11m @ 3g/t. These intersections represent continuous mineralisation over runs of 100 to 250m down the several boreholes over a strike-length of 1.5km.

U&N Gold Project
Pan African has concluded an Earn-In Agreement to acquire 85% of an exploration property, the U&N property in Ghana from the U&N Company Limited. The U&N property lies approximately 45km south-west of the town of Kumasi in volcanics, interbedded with clastic and chemical sediments of the early Proterozoic Birimian Supergroup. This is considered a highly prospective area with several known gold occurences. Pan African can earn-in 40% of the project by spending not less than US$ 290,000 on a soil sampling exploration phase. Should the Company wish to continue work after this phase, it must spend not less than US$ 300,000 to earn a further 45%. On completion of the BFS (‘Bankable Feasibility Study’) the Company may, at it’s election acquire the remaining 15% at a cost based on the Net Present Value (‘NPV’).

Figure 1: Akrokerri, Kyereboso and U&N Licences

Figure 2: The Ashanti Gold Belt, Southern Ghana

Akrokerri, Kyereboso and U&N Exploration Projects, Ghana

Mineral Resource (gross in situ)

Resource definition underway

Exploration Expenditure (2008)

US$ 590,000

Future Planned Expenditure

US$ 1,5 million

Work Completed

Completed IP geophysical programme
Completed DP-DP geophysical pro-gramme
Completed 3,500 m of core drilling

Work planned in the next 12 months

41,000 m of drilling
137 km of line soil sampling

* IP = Induced Polarization
* DP-DP = Dipole - Dipole Induced Polarization
* Exploration expenditure planned is subject to variation according to cash flows generated by mining operations

For more detailed information about the Akrokerri Exploration Project please refer to the printable PDF file below.

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