LONDON (Dow Jones)--Pan African Resources PLC (PAF.LN) said Wednesday it has defined several zones of mineralization following a two year drilling and underground development program at its wholly owned Barberton Mines (Pty) Ltd in South Africa. MAIN FACTS: -The Royal Sheba defined zone of gold mineralization extends contiguous to historical mine workings at the Royal Sheba prospect from 350 meters below surface. -The zone is between 5 meters and 25 meters wide, is non-refractory and represents a total resource of 506koz (5.48Mt at 2.87g/t). -The M&I resource represents 400koz (4.24Mt at 2.97g/t). -The zone of mineralization identified has been tested with exploration drilling to a depth of 850 meters below surface and remains open ended. In addition, potentially mineable pillars left in situ in the area between surface and a depth of 350 meters below surface have also been identified. -The Company is completing a feasibility study to determine if this defined zone of mineralization is economically viable. -The focus of this feasibility study will target wider zones of mineralization at lower grades through mechanized mining, which is expected to result in a reduction in working costs resulting in higher margins. -The total resource has been increased by 18% to 2.37Moz (11.77Mt at 6.29g/t in situ), and the M&I resource increased by 30% to 1.81Moz (9.43Mt at 5.99g/t). -This resource also, for the first time, includes a tailings resource on surface representing 116koz (1.34Mt at 2.69g/t). -Management is evaluating the potential to economically mine part of this tailings resource. -The mineral reserve increased by 6.8% to 661koz (2.31Mt at 8.87g/t in situ). -Shares at 0727 GMT unchanged at 6.3 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires June 30, 2010 03:28 ET (07:28 GMT)