CANADIAN listed miner, Pambili Natural Resources Corporation (Pambili) has identified a new high-grade gold vein at Shaft 14 of the company’s Golden Valley Mine (GVM) in Zimbabwe.
This comes five days after the miner revealed it had signed a 12-month option agreement with Long Strike Investments (Pvt) Limited to acquire the London Wall group of gold mines and claims located in Gwanda district, Matabeleland South province, Zimbabwe.
In August, Pambili revealed that it would conduct an initial resource drilling programme that would confirm the scale of gold at GVM during the current quarter.
GVM has a history of high-grade underground mining with historic gold production, located in Matabeleland province, in the Bulawayo Greenstone Belt.
“Pambili Natural Resources Corporation (Pambili or the company) is pleased to announce identification of a new high-grade vein at Shaft 14 of the company’s Golden Valley Project, Zimbabwe (Golden Valley),” Pambili said in a statement.
“Recent cleaning out of the old workings on shaft 14 (across the valley to the West of the East Adit, where the underground drilling is taking place) has exposed a very encouraging oxide ore body.
“A grab sample of the friable material taken over approximately 70 centimetres of the exposed reef panned a one-centimetre-long tail of visible gold.”
The miner said a series of additional grab samples was submitted to a local non-accredited laboratory in Bulawayo as a check and returned supporting high grades.
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Sample one returned 192,5 grammes a tonne (g/t), sample two returned 75g/t from a bottle roll and sample three returned 63g/t from a bottle roll.
“A grab sample of the hanging wall to the orebody also yielded over 1 g/t, indicating that the reef is not fully exposed. Both bottle roll samples will be resubmitted to the laboratory for re-analyses at longer residence times for a better extraction,” Pambili added.
NewsDay Business understands that Pambili’s mining team is currently cleaning out the historical workings and timbering them to make the workings safe.
Thereafter, a survey of the sample points is expected to be completed and development pushed forward to access the ore for systematic sampling and extraction to the mill, according to Pambili.
“These are highly encouraging results from Golden Valley and support anecdotal evidence that Shaft 14 made a significant contribution to previous gold production at Golden Valley. Following last week’s announcement of our option to acquire the London Wall Project, Pambili is on course to increase its gold production significantly in 2025,” Pambili chief executive officer Jon Harris said.
“The 70cm high-grade vein we’ve found at Golden Valley has returned exceptional grades. These included 63g/t and 75g/t from two separate bottle rolls and 192,5g/t from a third sample, which was fire assayed. As a result, we’ve increased security at the mine.
“Our focus now at Golden Valley is to develop shaft 14 for near-term revenue, while we complete our preliminary underground exploration drilling. This is ongoing and we look forward to updating the market with results in the coming weeks.”
Apart from GVM, Pambili also owns and operates Happy Valley Mine, which also mines gold and is located 15km from Bulawayo.
