Pan African Resources Regulatory News (PAF)

13 Oct 2005 07:00

Pan African Resources PLC13 October 2005 Pan African Resources plc ("Pan African" or "the Company") RESOURCE UPGRADE - MANICA PROJECT IN MOZAMBIQUE Pan African Resources plc (AIM:PAF), the gold exploration and developmentcompany with assets in Africa, reports an upgrade in resources at its Manicaproject in Mozambique. Recent geological work carried out by Pan African at its Manica project, hasresulted in the delineation of an 800,000oz resource (5.3mt @ 4.84g/t averagegrade). This upgrade in resource is the result of the completion of a 6,800mtdrilling programme following up on soil geochemical and geophysical anomaliescombined with geological mapping. To date, only 12% (2.4km) of the total strike-length of the 22km longmineralized zone has been explored. In addition to the resource upgrade, anotherreef parallel to the targeted mineralized zone, previously unknown to thegeological team, has been identified. Pan African is currently in the processof completing a dipole-dipole geophysical programme to delineate additional reefhorizons. Jan Nelson, CEO of Pan African commented; "The Manica project is within a wellestablished historical mining district. We are currently implementing a secondphase of geophysical work following up on the newly discovered reef zone. I lookforward to directing this programme with the geological team and reporting onthe results early in the new year." The following table details some of the more significant intersections*: Borehole number From To Width (m) Grade (g/t)And003 39.00 42.00 3.00 2.90And008 41.00 43.00 2.00 2.27And008 57.00 60.00 3.00 11.27And009 0.00 6.00 6.00 3.09And009 17.00 24.00 7.00 1.35And010 12.00 14.00 2.00 1.63And015 9.00 12.00 3.00 4.37And015 23.00 31.00 8.00 10.44And016 55.00 57.00 2.00 4.62And017 54.00 57.00 3.00 2.84And018 3.00 6.00 3.00 1.24And036 89.00 95.00 6.00 2.23And037 57.00 87.00 30.00 3.87And038 34.00 47.00 13.00 1.49And039 45.00 48.00 3.00 12.08And040 51.00 54.00 3.00 2.17And041 49.00 57.00 8.00 2.53And042 20.00 21.00 1.00 1.78And042 27.00 32.00 5.00 3.23And064 0.00 15.00 15.00 1.74And064 21.00 24.00 3.00 1.54And064 96.00 100.00 4.00 1.03And066 63.00 66.00 3.00 1.78And066 96.00 105.00 9.00 1.40And067 69.00 102.00 33.00 2.01Andd001 58.30 68.00 9.70 1.25Andd001 77.00 81.27 4.27 3.72Andd002 126.44 147.44 21.00 3.35Andd003 89.00 93.00 4.00 2.18Andd005 32.00 38.80 6.80 2.64Andd007 93.00 103.00 10.00 5.96Andd007 113.00 133.00 20.00 6.83Andd007 139.00 140.35 1.35 5.21Andd008 49.70 51.70 2.00 1.36Andd008 56.00 60.00 4.00 11.93Andd008 79.00 87.00 8.00 8.15Andd008 99.00 100.00 1.00 3.55Andd008 108.00 109.00 1.00 47.53Andd008 134.12 135.00 0.88 1.07Mac003 48.00 49.00 1.00 2.35Mac003 54.00 57.00 3.00 4.79Mac003 74.00 75.00 1.00 3.44Mac004 90.00 93.00 3.00 2.29Mac006 93.00 94.00 1.00 1.78 *Underground and surface sampling values were used in combination with boreholedata to determine resource. - ENDS - Enquiries: Pan African Resources Evolution Securities Parkgreen CommunicationsJan Nelson, CEO Tim Redfern Justine Howarth / Victoria Thomas+27 11 886 1211 +44 (0)20 7071 4312 +44 (0)20 7493 3713Colin Bird+44 (0)20 7584 2155 This information is provided by RNS The company news service from the London Stock Exchange