CANADIAN miner Pambili Natural Resources Corporation says its Gwanda gold mining claims have the potential to produce up to 18 tonnes of commercially viable gold daily.
In November 2024, the company entered into a 12-month option agreement with Long Strike Investments (Private) Limited to acquire the London Wall group of gold mines and claims in Gwanda.
The agreement covers 21 gold claims spanning 173 hectares, including the historically productive London Wall and New Jessie mines.
Long Strike has also applied for extensions to the claims, amounting to an additional 547,8 hectares, which will be incorporated into the agreement upon approval.
In its latest report to investors, Pambili highlighted that the London Wall and New Jessie mines have significant potential, with an estimated daily extraction capacity of 18 tonnes of gold-bearing material.
The company said prior to its agreement, the Jessie Mine’s previous owners had been extracting gold from the London Wall and New Jessie mines under a tribute arrangement, reportedly achieving similar extraction rates.
“Detailed figures are not available at this time. Importantly, during the term of this option agreement with Long Strike (12 months, exercisable to 24 months), Pambili will retain 95% of any gross income generated from the claims and mines — with an unencumbered right to mine and develop assets,” Pambili said in the report to investors.
“Once granted, these extensions will be included in the option.”
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The company is relying on these production estimates to evaluate the value of the option agreement, which includes two historically productive mines located along three interpreted major gold-bearing geological structures.
“Not only does the option include two previously producing gold mines in London Wall and New Jessie — the claims are located on three interpreted major regional gold-bearing geological structures,” it said.
Chief executive officer Jon Harris expressed optimism about the project, stating that although the historical data was yet to be independently verified, the reported figures align with past production records.
“We are excited to have this opportunity to confirm the potential of the project,” he said.
Gold mineralisation within the claims is controlled by three main regional geological structures, all converging on the 1,3-kilometre-deep Jessie Mine, located near the south-eastern edge of the claims area.
Golden Valley has a history of high-grade underground mining, with historic gold production located in the Matabeleland province, in the Bulawayo Greenstone Belt.
Meanwhile, the Happy Valley Mine is a producing gold mine located 15 kilometres from Bulawayo.
