Thursday, 28th June 2007 (2334 views)

Africa-based mineral exploration company Pan African Resources has confirmed that it is to buy 90 per cent of the license rights to the Akrokerri Exploration property in south Ghana.

Pan African Resources signed the agreement with SEMS Exploration Services Limited and Birim Goldfields.

The remaining ten per cent interest in the Akrokerri property will be held by Birim as a free - carried interest which Pan African can acquire after the project reaches bankable feasibility stage.

"Historical underground mining by Akrokerri Ashanti Mines Limited from 1900 to 1909 within the licence area yielded approximately 74,000 ounces of gold at a recovered grade of 24.6 [grammes per tonne] g/t," Pan African Resources revealed.

Pan African reveals that in 1996 Birim drilled nine boreholes measuring more than 1,998 metres in total with two intersections yielding one metre at 24.8 g/t of gold and one metre at 12.3 g/t of gold.

Exploration and development company Pan African has exploration projects in Mozambique and the Central African Republic.

 

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