Strike length extension, potential unexploited structure: Drone survey bolsters Golden Valley’s gold exploration promise
Figure 1: Historical mine workings overlaid on Pambili’s structural interpretation at Golden Valley.
CALGARY, Canada (Dec. 15, 2023)—Pambili Natural Resources Corporation (“Pambili” or the “Company”) (TSX-V: PNN) is pleased to announce its interpretation of the results of a drone survey completed over its recently acquired Golden Valley Project in Zimbabwe’s Matabeleland province. This acquisition, previously announced on Nov. 23, 2023, is still subject to approval from the TSX-V.
Pambili contracted Precision Drone Services to fly the survey at a 50-meter line spacing, collecting geophysical magnetic data. A contract consultant geophysicist then used the processed data to compile a structural interpretation for the Project highlighting several potential West-North-West-trending trends parallel to historical workings.
These trends traverse the tenement along more than one kilometer, suggesting a potentially significant extension to Golden Valley’s known strike length.
Pambili also collected detailed orthorectified photography and a Digital Terrain Model (“DTM”) from which 50cm height-spaced contours have been derived. Mapped artisanal eluvial and alluvial workings plotted on the DTM indicate gold is being shed from new potential target areas other than the known historical mine workings.
The potential for an additional structure that has not previously been exploited for gold and an extension to the known project strike length add to Golden Valley’s gold exploration potential. Pambili will investigate the new target areas as part of its ongoing gold exploration efforts at the Property.
Figure 2: Drone equipment used by Precision Drone Services to complete its survey at Golden Valley.
Jon Harris, Chief Executive Officer of Pambili Natural Resources, commented:
“We were keen to begin work on the ground as soon as we could at Golden Valley, and the drone survey we’ve announced today was one of the key initial work streams we completed while we were completing our acquisition of the Project.
Our interpretation of the results further builds on our strategic belief that the full gold potential of Zimbabwe’s known gold deposits has never been fully realized owing to a lack of modern-day exploration techniques.
We look forward to following up on our new target areas we’ve interpreted at Golden Valley as part of our planned exploration efforts over the coming months.”
The Golden Valley Project
Pambili believes that Golden Valley Project, like many similar projects, has been underexplored and has the potential to host a bulk mineable gold deposit. The Project has a history of high-grade underground mining with recorded historic gold production and includes a gold processing plant, a stamp mill, and two historic adits.
Pambili acquired the Golden Valley Project in November 2023 and has commenced exploration of the Project’s underground and near-surface potential. The Company plans to recommence mining next year, and is preparing for a comprehensive phase of underground drilling.
Pambili’s independent geologist, Gayle Hanssen BSc. (Hons.) Geology, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.