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595 Burrard street

Vancouver, BC

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802-441-5551

info@pafriexp.com

Ghana- Brong Region

Pokukrom Area (East, West and West IP)



The Pokukrom East and West mineralization areas are located in the central-eastern portion of the Manfo Project. These prospects were included in the 2013 Manfo Resource Study.

Since optioning the project in 2017, some 152 drill holes have been completed on the two areas, totalling 26,728 metres. The lion's share of drilling has been completed at the Pokukrom East prospect, with 113 drill holes. 90 diamond drill holes totalling 19,773 meters were completed between September 2017 and April 2019 in advance of the Resource Study. An additional 12 RC holes totalling 795 metres, and 11 AirCore holes totalling 422 metres were completed in 2013-14. At the Pokukrom West prospect, 29 diamond drill holes were completed for 5,397 metres between 2010 and 2012. At the West IP prospect, 10 AirCore holes totalling 340 meters were completed in 2013. Drilling has been completed on a nominal 50 meter spacing. 

A revised drilling program was undertaken during October 2018 - December 2018. Results may be reviewed in the Company's news releases issued on May 2, 2019 and June 7, 2019.

Pokukrom East Mineralization

Pokukrom East mineralization lies in the Hanging wall of the west-dipping FZ1 fault. Mineralization is zoned from the hanging wall to footwall, with stockwork sericite-pyrite quartz-carbonate veining (10-40 meters thick) in the hanging wall grading to a ductile core (10-40meters thick) of massive sericite-pyrite quartz-carbonate alteration in the immediate hanging wall of the FZ1 fault. Gold is hosted within fine grained pyrite in the sericite alteration, and the best gold grades are coincident with the core alteration zone. In the southern portions of the deposit, a weak hematite alteration surrounds the sericite zones, which sericite alteration overprints. The core alteration has a shallow plunge to the north along the FZ1 fault, has a dip extent of 80-120 metres and a plunge extent of 800 metres. The mineralization is open down plunge. In the north hanging wall of the deposit and beneath the main lense additional mineralization has been encountered that requires follow-up drilling.

Pokukrom West Mineralization

Pokukrom West crops out 600 metres west of the Pokukrom East prospect and is hosted by a steep west dipping fault zone. Mineralization is similar in style to the Pokukrom core mineralization but has maximum widths of 5-25 metres and a strike length of 100-125 metres. Hematite alteration surrounds Pokukrom West mineralization. The mineralization is open down plunge.



OBUASI EXPLORATIONS:

Highlights

  • Pafriexp has discovered seven near surface areas of gold mineralization along a 9-kilometre trend of multiple structures
  • three areas comprise the initial resource stage: Pokukrom East and West, Nfante West
  • Maiden resource estimate of 195,000 oz (at 1.5 g/t Au) Indicated, plus 298,000 oz (at 1.0 g/t Au) Inferred developed by TCB Consulting, in 2016

Ownership

  • 100% ownership
  • 100 square kilometres on Ghana’s prodigious Sefwi Greenstone Belt

Property Details

Pafriexp Manfo project is situated roughly in the middle of the Sefwi-Bibiani Belt between Newmont’s Ahafo mine; the Subika deposit being only 14 kilometres to the NNE, and Resolute’s Bibiani mine 25 kilometres to the south of the Manfo project area and 50 kilometres from Kinross’ Chirano Mine. Similar to the Subika and Chirano deposits, the mineralization at Manfo is likewise hosted in granitoid intrusive rocks.

The Manfo property is underlain by metasediments, mafic metavolcanic rocks, and granitoid intrusive bodies. A major northeast trending fault zone or corridor, approximately three kilometres wide, traverses the east side of the property. This fault corridor serves as the regional contact between the greenstone volcano-sedimentary package to the west and a regional belt batholith to the east. Gold mineralization at Manfo is hosted in sericite and hematite altered granitoid rock adjacent to a set of brittle-ductile faults. Within the alteration envelopes, the gold mineralization occurs adjacent to the brittle-ductile faults, and in fracture-controlled zones preferentially developed in certain horizons within the granitoid in the hanging wall of the fault. Alteration and gold mineralization are closely related to increasing strain. Gold is associated with wide zones of pervasive to fracture-controlled quartz-sericite-carbonate-pyrite alteration overprinting an earlier phase of hematite alteration hosted predominantly in sheared and locally brecciated, altered granitoid rocks and to a lesser extent brecciated hematite-altered mafic metavolcanic rocks.

Pafriexp has drilled a total of 339 exploration and resource delineation holes totalling 45,571 metres. Seven gold-mineralized areas have been identified to date, primarily along a prominent 9-kilometre long soil geochemical trend, on the eastern side of the project. The maiden gold resource at the Manfo project is contained within three deposits:

  • Pokukrom East (PE);
  • Pokukrom West (PW); and
  • Nfante West (NW)

Pafriexps technical team defined wireframes for the altered envelopes and submitted them to TCB for optimization using alteration profiles and lithological coding of drilling data. TCB considers portions of the Manfo gold mineralization amenable for open pit extraction. The “reasonable prospects for eventual economic extraction” were assessed using a pit optimizer. The mineral resources for the Manfo gold project are reported at two cut-off grades. The mineral resources within the oxide material are reported at a cut-off of 0.40 gram of gold per tonne (gpt gold), whereas the transitional and fresh portion of mineral resources are reported at a cut-off grade of 0.50 gpt gold, and a gold grade of US$1,450 per ounce was used in the estimation. The mineral resources were classified as Indicated and Inferred, primarily based on the basis of continuity at the reporting cut-off grade, positive kriging efficiency, situation within the conceptual pit envelope used to constrain the mineral resources and on variography results. Several mineralized zones remain open down dip beyond the limits of the conceptualized pits and the resource envelopes are open down plunge, providing an opportunity for resource growth with further drilling and demonstrated extensions of the mineralized zones, plus utilization of a higher gold price for the pit optimization and resource estimation.


Highlights

  • Pafriexp has drilled 129 diamond drill holes for a total of 27,883 metres ranging in length up to 602 metres and averaging approximately 200 metres
  • Drilling has lightly tested targets in eight general areas, with more than 85% of the drilling in the western half of the property
  • The presence of an extensive gold system is illustrated by the fact that anomalous gold intercepts appear at nearly every prospect tested via drilling across the property
  • Technical interpretation of data generated by these programs identify mineralization processes consistent with that observed at the neighbouring Obuasi Mine
  • Obuasi style mineralization appears on Pafriexp’s ground in multiple occurrences across the property from a variety of geological and structural settings
  • Recent data compilation and reanalysis conducted by Pafriexp have identified two primary target areas in the western half of the property which will be subject to future drill testing, including:
  1. The Obuasi Targets, an extension of the deposit host geology and related structures from the Obuasi Mine into the western edge of Pafriexp’s project area; and
  2. The NGA (North Government Area) Targets along and close to the main Birimian / Tarkwaian contact, including one prospect on which Pafriexp returned two high grade drill intercepts of 1m of 24.50 g/t gold and 2m of 11.28 g/t gold, with very limited drill follow up         

Ownership

  • 100% owned
  • 284 square kilometres on the Ashanti Gold Belt

Property Details

The Obuasi property is located contiguous with AngloGold Ashanti's world-class Obuasi gold mine within the prolific 300-kilometre-long Ashanti Gold Belt in southwest Ghana, West Africa. The Obuasi mine has produced over 33 million ounces of gold since 1897 and currently hosts a resource of 29.5 million ounces of gold at an average grade of 7.64 g/t including a Proved and Probable Reserve of 8.73 million ounces of gold at an average grade of 8.62 g/t. (Source: AngloGold Ashanti Mineral Resource and Ore Reserve Report 2020).

Pafriexp’s most recent drilling campaign discovered high-grade, vein–hosted visible gold mineralization in sheared graphitic argillites, the typical ore host at the Obuasi Mine. The structural characteristics of the Obuasi Mine’s mineralization consists of shear hosted quartz vein mineralization located within graphitic structures in Birimian sediments (wackes and phyllites) and along their contacts with Birimian volcanics and more competent Tarkwaian sediments. Quartz vein hosted gold at Obuasi is generally “free” gold (non-refractory) and usually high grade. Gold also occurs in silicified alteration haloes around the veins and is associated with fine needles of arsenopyrite. This style of gold is refractory, with gold encapsulated by arsenopyrite grains, and is usually lower grade but tends to develop into wide zones of mineralization. Pafriexp’s Obuasi property contains evidence of both styles of mineralization; quartz (+/- carbonate) veining in carbonaceous shear zones in the sediments and locally within mafic volcanics (e.g. at Big Vein) with locally high grades (e.g. the NGA prospect) and also zones of silicification within the sediments, volcanics and dioritic intrusives (e.g. at Kusa) with disseminated arsenopyrite +/-pyrite and elevated gold grades.

A soil sampling campaign conducted post drilling discovered seven areas with greater than 200 ppb gold between 200 metres to 800 metres in strike length. Given the size of the land package Pafriexp is exploring, it is the Company’s evidenced opinion that the drilling and exploration programs completed on the Obuasi project have thus far just scratched the surface of the property’s geology. When one considers the target model (a several million oz high grade lode sourced from the massive fluid system that deposited >60Moz a few kilometres to the southwest) further exploration and drilling on the project is demonstrably justified. Robust geological study over the course of Pafriexp's interest in the property concludes that numerous D2 anastomosing splay structures emanate from the Obuasi Main Reef Fissure and strike north-easterly into Pafriexp’s property. In addition, multiple north-north-east striking D5 structures, comparable to the Obuasi Main Reef Fissure, have been interpreted across Pafriexp’s property. Anyone of these structures has the potential to have channeled mineralized fluids from the Obuasi Mine property with the deposition of a sizeable lode of gold mineralization in a suitable structural trap on Pafriexp’s ground. Ongoing data reanalysis and reinterpretation is developing a ranked series of compelling targets for further drill testing.


“Great discoveries beneath the soil is found on multiple failures.”

Professor Osei Antwi

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