SOURCE: Pan African Mining Corp.

June 06, 2007 04:00 ET

Pan African Mining Corp.'s Shallow Drilling Confirms Extension Below Surface of Rich Uranium Mineralisation at Tranomaro: 17.2 Meters @ 4,329 ppm U (11.25 lbs/Metric Ton U3O8)

VANCOUVER, BC--(Marketwire - June 6, 2007) - PAN AFRICAN MINING CORP. (TSX-V: PAF) (FRANKFURT: P2A) (the "Company") is pleased to announce results of its first reconnaissance drill hole #TR/M37D/B5-50E, at old French Mine 37 on its Tranomaro Uranium Project, located in Southern Madagascar. The hole intersected 17.2 meters of high-grade U mineralisation grading 4,329 ppm (0.43 of 1%) U (11.25 lbs/metric ton U3O8). The initial drilling tested a North - South striking pyroxenite unit with minor accessory minerals, which prior surface sampling and mapping had suggested was likely to host high-grade uranothorianite mineralization below surface. The interval by interval assay results received from ALS Laboratory Group in Vancouver are presented in the table below.

Table of Selected Drilling Results

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Drill Hole      From   To     Interval   U         U3O8
                 (m)   (m)      (m)    (ppm)  (lbs/metric ton)
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TR/M37D/B5-50E   0.3   17.5   17.2      4,329   11.25
   Including:    0.3    1.0    0.7      2,300    5.98
                 1.0    2.0    1.0      5,600   14.56
                 2.0    3.0    1.0        321    0.83
                 3.0    4.0    1.0      2,740    7.12
                 4.0    4.5    0.5      7,250   18.85
                 4.5    5.0    0.5     14,800   38.48
                 5.0    6.0    1.0      4,690   12.19
                 6.0    7.0    1.0        173    0.45
                 7.0    8.0    1.0        330    0.86
                 8.0    9.0    1.0      4,840   12.58
                 9.0   10.0    1.0      3,140    8.16
                10.0   11.0    1.0        324    0.84
                11.0   12.0    1.0      4,010   10.43
                12.0   13.0    1.0      3,170    8.24

--------------------------------------------------------------


--------------------------------------------------------------
Drill Hole      From   To      Interval  U         U3O8
                 (m)   (m)      (m)    (ppm)  (lbs/metric ton)
--------------------------------------------------------------
                13.0   14.0    1.0      2,340    6.08
                14.0   15.0    1.0      7,990   20.77
                15.0   16.0    1.0        430    1.12
                16.0   16.5    0.5      1,760    4.58
                16.5   17.0    0.5     31,700   82.42
                17.0   17.5    0.5     88,880   23.09
--------------------------------------------------------------

Note:  Intervals have not been resolved to true width


Drill Hole Survey Data

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Drill Hole      UTM    Easting Northing Azimuth  Inclination Collar Elev.
              Grid No.   (m)     (m)    (true N)               (m)
-------------------------------------------------------------------------
TR/M37D/B5-50E  38S    0652602   7282726   N/A      -90       358
-------------------------------------------------------------------------
The Tranomaro Project is one of four Madagascar Uranium projects acquired by the Company through its 80% owned Malagasy subsidiary PAM Atomique Sarl., under its Joint Venture with L'Office des Mines Nationales et des Industries Strategiques ("OMNIS"), a Malagasy State Agency. It comprises 206 carres under tenure totalling approximately 1287.5 sq.km. in the South of Madagascar. Uranium occurs in the region typically as uranothorianite in bands hosted in pyroxenite.

This shallow reconnaissance drilling program is a follow-up to the Company's recent regional exploration program, which identified numerous surface U anomalies. The Company's initial target is an area of approximately 3km by 8km, which embraces an area historically mined by the French through a series of small pits located on outcrops of the uraniferous strata along the trend. This initial drill hole is located in the Tranomaro area near the Northern end of the trend at old French Mine 37. The reconnaissance drilling program will continue Southward to "spot" test the prospective strata at shallow depths (generally 20 meters or less).

This initial shallow drilling program will be followed up with a systematic deeper drilling program to test down dip extensions of the zone. An Atlas-Copco CS-14 hydraulic core drill with capacity to drill HQ or NQ core to several hundred meters is currently being transported to site to commence this program shortly.

According to Irwin Olian, CEO of the Company, "We are delighted to see these exceptional high-grade results from our initial scout drilling at Tranomaro. They certainly tend to validate our geologic model for the region, which suggests rich uranium mineralization persists below surface at a number of sites where surface anomalies were mined by the French historically. We are now accelerating our scout drilling program as well as mobilising a big core rig with a view toward evaluating the tenor and magnitude of the regional deposits."

Reconnaissance drilling is done utilizing an in-house drill crew with a small man-portable conventional core drill. Holes are continuously cored utilizing AW equipment. For hole #TR/M37D/B5-50E, the interval from 0.0 m to 0.3m, cuttings only were recovered for analysis. From 0.3m to total depth of 27.0m, core recovery was 95%.

After logging, the core is crushed to -2mm. The -2mm sample is then split with one split retained in archive. The remainder is pulverized to -75microns. A split of the pulp is then forwarded for assay to the ALS Laboratory Group - Vancouver, BC facility for analysis, with the remainder of the pulp also retained in archive. All sample prep is performed in the Company's prep facility in Antananarivo, Madagascar. Industry standard QA/QC and security procedures are strictly adhered to with respect to sample handling and preparation.

Samples are analyzed by ALS Laboratory Group at its Vancouver, BC facility utilizing their Uranium Package Code #ME-MS61U, a 48 element near total digestion ICP procedure. Uranium over-limits for the foregoing procedure are re-analyzed using ALS procedure #U-XRF10.

The Uranium field exploration program is managed by highly-experienced German geologist Dr. Reinhard Ramdohr, assisted by Marcel Rasolofonirina and a highly qualified team of Malagasy geo-techs. Overall program oversight is provided by Gregory B. Sparks, P. Eng., a Director of the Company and a Qualified Person under NI 43-101. Sample preparation and assistance in establishing laboratory protocols and sample handling and assaying quality control are supervised by Ardito Martohardjono, Vice-President of Laboratory Services and a Director of the Company.

About Pan African

The Company is an exploratory resource company with approximately 7,500 square kilometres of diversified mineral properties and 5,000 square kilometres 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 regions for gold and metals in Mozambique under agreements with other companies. 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.
"Gregory B. Sparks"
Gregory B. Sparks, P. Eng.
Director

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.

Contact Information

  • For more information, contact:

    Irwin Olian
    President and CEO
    E-mail: Email Contact
    Phone: (604) 899-0100
    Fax: (604) 899-0200

    Tom Kinakin
    Corporate Communications - Vancouver
    Email: Email Contact
    Phone: (604) 899-0100
    Fax: (604) 899-0200

    Carrie Howes
    Corporate Communications - London
    Email: Email Contact
    Phone: 7780-602-788