May 24 2005
Pan African Mining Corp has announced the resumption of its formal diamond exploration program in the field in Madagascar, following a brief hiatus during the wet season. The current program, which represents Phase 2 of the Company's comprehensive diamond exploration program, is designed to follow up on the encouraging results achieved during Phase 1 stream sampling in certain key areas of Madagascar deemed to be most prospective, as well as to explore certain other new areas also deemed to be prospective. The primary objective of this program is the discovery of kimberlitic or lamproitic diamond sources. As a secondary objective, the Company will investigate the possibility of locating rich alluvial deposits and commercial deposits of other precious stones.
The current Phase 2 Program is presently being overseen by Dr. Andrew E. Moore, of South Africa, in cooperation with Dr. Norbert M. Mitsch. Dr. Edward A. Schiller of Canada, who joined the Company's diamond team last fall, is also participating in the current field program as a Senior Consultant. Andy takes over the reins of the program from Jessica Schloemann, who departed Madagascar due to family considerations.
Through its operating subsidiary, PAM Madagascar Sarl, the Company holds 10-year research permits covering in excess of 3000 sq. km. in areas deemed prospective for diamond exploration in various regions of the country. These areas were identified based upon the geological history of Madagascar and presence of the cratonic core, as well as historic discoveries of alluvial diamonds and other kimberlitic indicator minerals. Data from the BRGM, a French governmental agency, and other historic sources, were among tools utilized by the Company's geologists. Most of the Company's diamond claims were established in 2003 prior to the recent diamond exploration activity by other companies in Madagascar.
The current Phase 2 exploration program will focus on reconnaissance and follow-up stream sampling in key target areas, with a view toward locating and identifying further kimberlitic indicator minerals such as ilmenite, chromite, pyrope garnet and chrome diopside. The Company's diamond geologists are now in the field carrying out sampling, accompanied by technicians and support personnel. A multiplicity of sampling teams is being utilized simultaneously.
According to Irwin Olian, CEO of the Company, "It is very exciting for Pan African to have three world-class diamond geologists like Andy, Norbert and Eddie on our ground in Madagascar simultaneously, particularly following on the heels of our recent gold discovery at the Mountain of Gold Project in Dabolava. We believe the opportunity in mineral-rich Madagascar is just beginning to be tapped and look forward with great enthusiasm to continuing our work programs there across the mineral spectrum."
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