Author: TSX Stocks

Toronto Stock Exchange-listed mining and exploration junior Pambili Natural Resources Corporation has discovered a promising new development at its Golden Valley Mine (GVM) in Bulawayo, confirming the down-dip extension of gold mineralization at significant widths and grades, Mining Zimbabwe can report.

By Rudairo Mapuranga

The results from the company’s ongoing drilling program have excited the company, potentially reshaping the future of this historic mine.

The latest assays, conducted by Antech Laboratories in Kwekwe, Zimbabwe, revealed that Hole EADD001 intercepted a broad zone of sulphide mineralization, returning an intersection of 1.2 grams per tonne (g/t) gold over an impressive width of 17.2 meters. This critical find points to economic potential in the deeper unmined sulphides, offering a promising outlook for the future of the Golden Valley Mine.

Jon Harris, Pambili’s CEO, expressed his enthusiasm for the results, stating that his company is excited about the mine’s future.

“The Pambili team is highly encouraged by the grades and widths of gold mineralization encountered in the unmined sulphides beneath the historic workings at our Golden Valley Mine,” he said.

According to Harris, what makes this discovery particularly noteworthy is the structure of the mineralization. The upper mineralized zone returned 2.19 meters at 1.57 g/t gold, while the lower zone was even more promising, delivering 7 meters at 2 g/t gold. A standout highlight within this lower zone is a 2-meter section yielding 3.86 g/t gold, a high-grade intersection that adds considerable weight to the economic viability of the deposit. The zones are separated by a 6-meter wide stretch of internal waste with a lower grade of 0.29 g/t gold.

Historically, Golden Valley has produced around 2,500 ounces of gold at an average grade of 9 g/t, focusing mainly on shallow oxide mineralization. However, this recent discovery shifts attention to the deeper sulphides, where the company believes substantial untapped potential lies.

Harris emphasized the importance of these findings, stating that the company’s focus is now on establishing whether the potential scale of gold mineralization at Golden Valley is far more significant than previously recognized.

“With regional sulphide mineralization continuing to depths of more than 1 km, our focus is now on establishing whether the potential scale of gold mineralization at GVM is far more significant than previously recognized,” he said.

The Pambili CEO said that to explore this potential further, Pambili plans to develop a cross-cut from the existing sub-vertical shaft, aiming to expose both the upper mineralized zone and the up-dip extension of the lower zone. This step is crucial for obtaining metallurgical samples to assess the recoverability of the sulphide mineralization.

If recoverable grades are confirmed, according to Harris, the company intends to launch an on-strike development program, opening up new areas of the mine for further exploration and extraction.

“Our next phase is to extend the development of the planned cross-cuts and learn more about the extent of this anomalous zone of mineralization,” Harris said, outlining the company’s forward-looking strategy.

The discovery of down-dip extensions at Golden Valley marks a pivotal moment for Pambili Natural Resources. As the company moves to assess the true scale of these sulphide deposits, the potential for high-grade, deep gold resources could propel Golden Valley into a new era of production. These recent assay results, with their broad intersections and consistent grades, provide a solid technical foundation for future growth.

With ongoing exploration and strategic development, Pambili is poised to redefine the economic landscape of its Golden Valley Mine, positioning it as a critical player in Zimbabwe’s gold mining industry. As Harris concluded, “We look forward to learning more about the extent of the anomalous zone as we extend the development.”