LAST BUT NOT LEAST — Pangea reports Fenn-Gib results

Encouraging results are reported from winter drilling on the Fenn-Gib property, 20 km east of Matheson, Ont.

In a 19,800-metre program, Pangea Goldfields (CDN) defined five zones of high-grade mineralization to a depth of 275 metres, with all zones reported to be open at depth.

Two of these, which make up the Main zone, lie within a large, disseminated gold envelope. Pangea believes this deposit could potentially be minable as an open pit.

Two of the other zones lie within the hangingwall of the Destor-Porcupine fault structure, with the remaining zone positioned in the footwall. More than 175 gold-bearing intersections were drilled, ranging in value from relatively narrow, low grades (1.06 grams gold per tonne over 2.36 metres) upwards to wider, moderate grades (1.23 grams over 135.8 metres) to substantially higher grades over more moderate widths (13.54 grams over 1.9 metres).

Although mineralization is found in various settings, most of the gold is associated with sulphides coincident with silicification and albitization. Further drilling, in excess of 10,000 metres, will be aimed at defining the geometry, grade and depth extension of all the zones. Pangea plans to define a gold reserve for the Main zone to a depth of 300 metres.