Pambili announces new high-grade vein at Golden Valley
Newly identified 70-centimetre vein in Shaft 14 at Golden Valley Mine.
CALGARY, Canada (Nov. 25, 2024)—Pambili Natural Resources Corporation ("Pambili" or the "Company") (TSX-V: PNN) is pleased to announce identification of a new high grade vein at Shaft 14 of the Company’s Golden Valley Project, Zimbabwe (“Golden Valley”).
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. A series of additional grab samples was submitted to the local non-accredited laboratory in Bulawayo as a check and returned supporting high grades, including:
Sample 1 returned 192.50 grams a tonne (“g/t”) from fire assay
Sample 2 returned 75 g/t from a bottle roll*
Sample 3 returned 63 g/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’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 will be completed and the development pushed forward to access the ore for systematic sampling and extraction to the mill.
Jon Harris, Chief Executive Officer of Pambili Natural Resources, commented:
“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.
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.”
Figure 2. Dark oxide material taken from Shaft 14, with abundant visible gold.
Figure 3. 1cm tail of of gold from hand full-panning a grab sample of friable material taken from Shaft 14
This news release has been reviewed by Gayle Hanssen BSc. (Hons.) Geology, an independent geologist who is a qualified person (“QP”) as defined by Canadian National Instrument 43-101 who has approved the technical information contained herein.