Madagascar Betroka Property Itea Property Northern Morondava Basin Uranium Property Ejeda Property East Fiana Gold Property P49 Gold Property Tsididdy Gold Property Ambatofosy Property Pani Property	Itea Gold Property: This property consists of 6 non-contiguous exploration permits in two blocks covering a total surface area of 37.5 sq. km approximately 3,750 h.a. It is situated in the Central Highlands of Madagascar. In 1908 approximately 60 kg of gold were extracted from the Itea Deposit in the northern block of the property by orpailleur-type diggings. The workings extended only to a depth of about 22 m. Twelve (12) km to the south, on the southern block of the Itea Property where gold was reportedly extracted at the Tsinjava prospect along the same mica schist/quartzite formation. Additional gold occurrences have been noted on the property. No significant exploration has been done on the property since 1940. It has been estimated by BRGM (Bureau de Recherches Geologiques et Minieres) that only 50% of the contained gold was recovered by the relatively crude methods of extraction employed. Gold occurs both as fine free gold and with pyrite. Gold recoveries of over 90% can be attained by fine grinding and physical concentration. No cyanidation is required. The current survey has detected a strong feature at the historic mine workings, suggesting that the zone may increase from its known 250 by 100 metre size to 900 by 150 metres beneath covered areas, and extends to depth. Numerous other IP targets that encompass the old mine workings were also detected within a 2,500 metre-long corridor that is from 150 to 650 metres wide, extending to the northeast and southwest. Several of these are coincident with soil geochemical anomalies and scattered outcrops of mica schist similar to that found at the abandoned mine site. The IP and magnetic survey at Itea consisted of over 60 kilometres of survey lines respectively spaced 50 to 100 metres apart. This survey was contracted to SAGAX MAGHREB SA. Eight trenches are currently being dug across the higher priority outlying anomalies in order to pinpoint locations for a first phase of drilling. As a result of the very positive results at Itea, the Company has asked SAGAX to undertake additional IP and Magnetic surveys across the southern claim block at Itea - known as Tsinjava. The Tsinjava prospect lies some 13km SW of the main Itea property, and also has a history of reported gold production. Geologically similar in many ways to that of the Itea prospect, mineralization at Tsinjava appears to be hosted within favourable mica schist units that were exploited by pits and trenches in the early 20th century. The goal at Itea is a bulk tonnage economic gold deposit. It appears obvious that gold mineralization, localized along several NE trending zones, occurs over a wide area. Only a thorough sampling and geological mapping program, supported by drilling, will provide a conclusive answer to the gold potential at Itea. Pencari is currently looking to significantly add to its property position in Madagascar. ITEA Soil Samples with Trenching and Chargeability Underlay - 11th February 2008 Itea Regional Digitised Geology Itea Proposed Drill Plan View PDF Version (2.8 Mb)
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