Gold miner Pan African Resources has finalised the exploration drilling programme on the Royal Sheba project, in Barberton, Mpumalanga, and declared a mineral resource estimate of 800 000 oz, out of an 8.97-million-tonne reserve, grading 2.62 g/t gold.
The consultancy that signed off on the mineral resource estimate, SRK Consulting, said about 370 000 oz was near surface and conducive to openpit mining, out of a total 5.80-million-tonne reserve grading 1.96 g/t gold.
The Royal Sheba drilling programme, which totalled 4 311 m of drilling across three phases, confirmed robust mineralisation extending from the surface along a 900 m strike and 150 m downdip of the Royal Sheba orebody.
The underground mineral resource is delineated at 390 000 oz, out of a 3.12-million-tonne reserve, grading 3.87 g/t gold.
Meanwhile, consultancy DRA Global is progressing a definitive feasibility study on the project, which is expected to be completed in February 2019.
Pan African has started an extended drilling programme at its Barberton Mines’ mining right at New Consort Mines, targeting the main maiden reef orebody, as a potential satellite deposit for the Royal Sheba project.
The drilling is targeting a resource of between 200 000 oz and 300 000 oz of gold grading between 2 g/t and 4 g/t gold.