Golden Star's Pan African Resources Corp. Reports Promising Gold Exploration Results in Cote d'Ivoire

A comprehensive gold exploration program in Cote d'Ivoire's Comoe reconnaissance permit, covering 15,000 square kilometers, has yielded encouraging results. A 70,000 line kilometer airborne magnetic and radiometric survey, completed in March, and a geochemical sampling program of 1,450 large stream sediment samples have provided valuable insights. Preliminary assay results have revealed distinct clusters of higher values, while geological mapping and the discovery of ancient abandoned artisanal gold workings have further identified areas of potential gold concentration.

Key Takeaways:

• The exploration program, covering 15,000 square kilometers, includes a 70,000 line kilometer airborne magnetic and radiometric survey, completed in March.
• A geochemical sampling program of 1,450 large stream sediment samples has been completed, with about half of the samples yielding encouraging results.
• Preliminary assay results show distinct clusters of higher values, indicating potential gold concentrations.
• Geological mapping and the discovery of ancient abandoned artisanal gold workings have further assisted in identifying areas of potential gold concentration.
• Pan African Resources Corporation is required to convert the reconnaissance concession to exploration permits aggregating up to 3,750 square kilometers by November 30, 1995.
• The company anticipates that some exploration permits will be ready for drilling programs in December 1995.
• Pan African Resources Corporation is actively exploring other locations, including projects in Ethiopia, Mali, and Gabon.

Statistics:

• 70,000 line kilometer airborne magnetic and radiometric survey completed in March.
• 1,450 large stream sediment samples collected through the geochemical sampling program.
• About 50% of the geochemical samples have been assayed, yielding distinct clusters of higher values.
• The exploration permit covers an area of 15,000 square kilometers.
• Parr African Resources Corporation has up to 3,750 square kilometers of land to convert to exploration permits by November 30, 1995.
• The company anticipates some exploration permits will be ready for drilling programs in December 1995.

Sources:

• "Golden Star Reports on Progress of Pan African Resources Exploration Program in Cote d'Ivoire" (PRNewswire, Aug. 21, 1995)
• "Golden Star Resources Ltd. Profile" (Company website, 1995)
• "Pan African Resources Corporation Press Release" (Company website, 1995)