Aeromag Data Confirms Strong Diamond Targets on Pan African Mining Corp.’s Botswana Licenses
PAN AFRICAN MINING CORP. (the “Company”) is pleased to report that reprocessed geophysics data, generated by independent geophysical contractor Scott Hogg & Associates Ltd. of Toronto (”SHA”), has confirmed strong diamond targets on the Company’s license area in Botswana. As previously reported in May, two blocks of Prospecting Licenses in Ngamiland, Botswana encompassing a combined area of 5476 sq. km. were awarded to the Company’s wholly owned subsidiary PAM Botswana (Pty) Ltd. The first, designated the Okavango block, is located to the west of the Okavango River, just south of the Namibia Caprivi strip. The second, designated the Tsau block, is adjacent to the north-south section of the Botswana-Namibia border.
The raw aeromagnetic data reprocessed by SHA was drawn from a high-resolution aeromagnetic survey flown in 1997 by the Botswana Government. The report by the contractor responsible for the original aeromagnetic survey highlighted two areas of high potential for the existence of kimberlite pipes. One of these target areas is covered by the Company’s recently acquired Okavango block. The updated Geological Map of Botswana, recently released by the Botswana Geological Survey, interprets this area to cover the southern extension of the Congo Craton, which hosts numerous economic diamond deposits. There are no records of any prior systematic exploration over the ground covered by the Okavango block.
The reprocessed aeromagnetic data provides considerably finer detail than was hitherto available. The Okavango block is characterized by a relatively quiet magnetic background, with numerous isolated bulls-eye circular magnetic targets, having estimated source diameters ranging from 100m to over 500m. Over 50 strong targets have been selected for ground follow-up on the basis of in-house screening of the reprocessed data. The presence of this grouping of singular magnetic features in this size range provides strong encouragement for the potential presence of a sub-Kalahari kimberlite field, and is consistent with earlier studies.
In the Tsau area, in-house screening of the reprocessed data has also identified a grouping of isolated magnetic bulls-eye features, considered comparable to those associated with a cluster of kimberlite pipes. These are concentrated close to the border with Namibia, in the west of Botswana.
An important rationale for the Company’s diamond exploration in the northwest (Ngamiland) sector of Botswana is the presence of a surface secondary concentration of diamonds and G10 garnets to the West, near the village of Tsumkwe in NE Namibia. The garnet chemistry, coupled with the presence of associated diamonds, points to derivation of this surface kimberlitic pathfinder anomaly from a high-grade kimberlite or kimberlites situated elsewhere. In-house geomorphological reconstruction indicates that headwaters of a former pre-Kalahari river system were located to the southeast and northeast of the unexplained Tsumkwe kimberlite pathfinder anomaly, in areas covered by the two new license blocks.
Further encouragement for the diamond potential of Ngamiland comes from the Nxau Nxau kimberlite field, located between the Company’s Tsau and Okavango license blocks. The mantle geotherm, defined by compositions of clinopyroxene crystals recovered from the Nxau Nxau kimberlites, closely resembles those associated with important economic kimberlite provinces such as Kimberley in South Africa, Canada’s slave province and Siberia. This points to a mantle thermal structure beneath northwest Botswana that is favourable for the discovery of diamondiferous kimberlites, and is consistent with the inferred extension of the Congo Craton into this area.
According to Dr. Andy Moore, the Company’s V.P. Diamond Exploration and a QP within the meaning of N.I. 43-101, “The identification of unexplored areas of potentially cratonic ground is an important objective of all kimberlite/diamond exploration groups. Quite apart from the encouragement provided by the geomorphology and interpretation of mantle thermal structure, the presence of several clusters of isolated magnetic bulls-eye targets in reprocessed data from such virgin ground provides an important incentive for initiating an aggressive kimberlite exploration programme on the Company’s new licenses in Ngamiland. Follow-up geochemical sampling over the targets is anticipated to commence shortly.”
About Pan African Mining Corp.
The Company is an exploratory resource company with approximately 7,500 sq. km. of diversified mineral properties and 5,000 sq. km. of uranium properties in Madagascar. The Company is exploring these properties for uranium, gold, coal, precious stones, base metals and industrial commodities. In addition, the Company is exploring two large regions for gold and metals in Mozambique under agreements with other companies. It also has approximately 5500 sq. km. of diamond licenses in Botswana which it is presently exploring. Its operations in Madagascar are carried out through its operating subsidiary, PAM Madagascar Sarl, and its uranium activities are carried out through its 80% owned subsidiary PAM Atomique Sarl. The Company has offices in Vancouver, Canada and Antananarivo, Madagascar. More information about the Company is available at www.panafrican.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
PAN AFRICAN MINING CORP.
“Irwin Olian”
Irwin Olian
Chairman & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company’s expectations.
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