Pambili confirms down-dip extension of gold mineralization at its Golden Valley Mine in Zimbabwe
Figure 1: Along strike view of GVM, highlighting upper and lower mineralized zones intersected by Hole EADD001
CALGARY, Canada (Jan. 14, 2025) – Pambili Natural Resources Corporation ("Pambili" or the "Company") (TSX-V: PNN) is pleased to announce the results of the first assays from its ongoing drilling program at the Company’s Golden Valley Mine (“GVM”) in Zimbabwe. The results indicate that the down-dip extension of gold mineralization at GVM continues over significant widths and at potentially economic grades.
The assays were completed by Antech Laboratories, an accredited laboratory in Kwekwe, Zimbabwe, and show that Hole EADD001 encountered an anomalous zone of sulphide mineralized brecciated chert returning an intersection of 1.2 grammes per tonne (“g/t”) gold over an apparent width of 17.2m.
This broad zone includes an upper mineralized zone of 2.19m @ 1.57g/t gold and a lower mineralized zone of 7m @ 2g/t gold at a cut-off grade of 0.5g/t gold, including an intersection of 2m at 3.86g/t gold. The two zones are separated by a 6m wide zone of internal waste with an average background grade of 0.29g/t gold.
The two zones are highlighted in Figure 1, above, and Figure 2, below, and a full table of drill results is included in the appendix at the end of this document.
Figure 2: Along strike view of GVM, with images of core taken from the lower mineralized zones intersected by Hole EADD001
The assay results from Hole EADD001 confirm the down-dip extension of mineralization at GVM, where historic mining focused on the shallower oxide mineralization. Historic production from the project totals 2,500 ounces (“oz”) of gold at an average grade of 9g/t.
The intersection of the upper and lower mineralized zones indicates that gold mineralization extends into the deeper, as-yet-unmined sulphides over potentially economic grades and widths. The mineralization appears to remain open along strike and at depth.
Pambili will now develop a cross-cut from the existing sub-vertical shaft with the objective of exposing the upper mineralized zone and the up-dip extension of the lower mineralized zone. The proposed development is indicated in blue in Figure 3 below.
Pambili’s initial objective is to obtain metallurgical samples of the mineralized sulphides. Assuming recoverable grades are identified, the Company will then implement an on-strike development program.
Figure 3: Proposed development of cross-cuts to intersect identified zones of sulphide mineralization.
Jon Harris, Chief Executive Officer of Pambili Natural Resources, commented:
“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. With regional sulphide mineralization continuing to depths of more than 1km, our focus is now on establishing whether the potential scale of gold mineralization at GVM is far more significant than previously recognized.
We look forward to learning more about the extent of the anomalous zone of mineralization as we extend the development of the planned cross-cuts from the sub-vertical shaft.”
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 and who has approved the technical information contained herein.
Appendix: Table of Hole EAD001 drill results
Drill Hole Information
Drilling Results
Notes
Apparent core widths are quoted, the actual core widths are estimated to be approximately 56% of the quoted interval
Drill hole intercepts are calculated with a lower cut off grade of 0.5g/t Au
Drill core size is BQ with a diameter of 36.4mm
Easting / Northing and Elevation is the collar of the borehole
All samples have been fire assayed at Antech Lab an accredited laboratory