Happy Valley Mine
Happy Valley Mine (Matabeleland Province, Zimbabwe)
KW Blasting of Harare, a division of Drilling Resources Zimbabwe (Private) Limited, began drilling work at Happy Valley Mine the week of Aug. 1, 2022.
As of August 2022, drilling has begun at the Happy Valley Mine near Bulawayo, Zimbabwe to validate previous surface exploration work.
In December 2021, Pambili announced that we had signed an earn-in agreement with Techshed Investments (Private) Limited regarding the Happy Valley Mine, a producing gold mine 15 kilometres from Bulawayo.
A bulldozer clears the site at Happy Valley Mine near Bulawayo, Zimbabwe, in advance of drilling program operations by Harare-based KW Blasting, a division of Drilling Resources Zimbabwe (Pvt) Ltd.
The drilling rig, owned and operated by KW Blasting of Harare, a division of Drilling Resources Zimbabwe (Private) Limited, is now engaged in a Phase 1 resource drilling program to define a 200-metre strike and 150m down-dip, NI 43-101-compliant resource on a drill grid of 40m x 40m.
“Despite the plethora of small-scale gold mines in Zimbabwe, very few—if any—have had the required resources to drill out their claims and therefore do not know the full potential of their assets,” remarks Pambili CEO Jon Harris. “Pambili believes that by investing in clearly defined drilling programs, this can be the game-changer in the small-scale mining sector in Zimbabwe. This program at the Happy Valley Mine is only the start of our journey.”
Our agreement with Techshed, approved by the TSX Venture Exchange on April 28, 2022, allows Pambili to earn up to 51% of increased future production of the Happy Valley Mine by investing US$1 million in capital expansion and development, including exploration, over the next two years.
The Happy Valley Mine has the installed capacity to process 40 tonnes of ore per day. However, due to capital constraints, it’s currently processing less than half that amount. By addressing those capital constraints, through an oversubscribed, C$515,000 non-brokered financing that closed in April 2022, Pambili can almost immediately start earning a return on its investment.
The net proceeds of the offering will be used to fund the expenditures under the Agreement. Full details of the terms and conditions of the Agreement are summarized in the Corporation’s news release issued on Dec. 3, 2021.
The proposed use of proceeds can be summarized as follows:
Capital expansion of the Happy Valley Mine $200,000.00
Initial exploration $100,000.00
G&A expenses $115,068.50
Transaction costs $50,000.00
Contingencies $50,000.00
TOTAL $515,068.50
Happy Valley Mine: Updated NI 43-101 Report
Pambili Corporate Presentation
Click here or on the image above to view or download our Q2 2024 corporate presentation on the bright promise of small-scale gold consolidation in Zimbabwe.
Click here or on the image above to see the NI 43-101 technical report for the Happy Valley Mine near Bulawayo, Zimbabwe.
Happy Valley Mine: Image gallery
AUGUST 2022: Drilling has begun at the Happy Valley Mine to validate previous surface exploration work. The KW Blasting drilling rig is now engaged in a Phase 1 resource drilling program.
AUGUST 2022: Drilling has begun at the Happy Valley Mine. The KW Blasting drilling rig is now engaged in a Phase 1 resource drilling program.
AUGUST 2022: Drilling has begun at the Happy Valley Mine to validate previous surface exploration work. The KW Blasting drilling rig is now engaged in a Phase 1 resource drilling program.
AUGUST 2022: Drilling has begun at the Happy Valley Mine. The KW Blasting drilling rig is now engaged in a Phase 1 resource drilling program.
JULY 2022: A bulldozer clears the site at Happy Valley Mine near Bulowayo, Zimbabwe, in advance of drilling program operations by Harare-based KW Blasting, a division of Drilling Resources Zimbabwe (Pvt) Ltd.
JULY 2022: Drilling is expected to begin in early August at Zimbabwe’s Happy Valley Mine, after Pambili Natural Resources Corporation awarded its drilling contract to KW Blasting (PVT) Ltd.
JULY 2022: Drilling is expected to begin in early August at Zimbabwe’s Happy Valley Mine, after Pambili Natural Resources Corporation awarded its drilling contract to KW Blasting (PVT) Ltd.
JULY 2022: Drilling is expected to begin in early August at Zimbabwe’s Happy Valley Mine, after Pambili Natural Resources Corporation awarded its drilling contract to KW Blasting (PVT) Ltd.