Highlights from the recent Technical Report on the Golden Valley Mine
NI 43-101 report endorses Pambili’s planned underground drilling program
CALGARY, Canada (April 24, 2024)—Last week, Pambili announced the completion of the independent technical report for its Golden Valley Mine in Zimbabwe.
The report was a key prerequisite for the Toronto Venture Exchange’s review into Pambili’s acquisition of Golden Valley. But it has also been useful in advancing Pambili’s investigation into the project’s potential for hosting a large-scale underground deposit—which is already underway.
The report endorses Pambili’s planned underground drilling program for the project. Here, we have shared further highlights, including the author’s recommendations for where Pambili’s work should head next:
Observations
The report notes there are 56 historical mine shafts within a 5km radius of Golden Valley, 19 which of which are named and have a total recorded production of 31,154 ounces of gold at an average grade of 12g/t.
It also notes that Golden Valley is hosted in the same formation as the How Mine – one of Zimbabwe’s largest producing mines, producing more 1 million ounces of gold since 1942.
Conclusions
The report notes that it is generally believed that Golden Valley has never been sufficiently funded or explored to reach any potential, with no history of a single exploration hole on the site.
It highlights the risk that mineralization could be patchy and non-continuous, but adds this is inherent of Archaean gold mineralization and can be somewhat mitigated by careful and systematic geological mapping.
According to the author, exploration data, and particularly geophysics, so far indicate potential for a commercially viable reef gold deposit at the Golden Valley mine.
“The Golden Valley Mine is a gold claim that has both historical and current production, proving that there is certainly gold potential on this claim. There has been an application to extend the claims over a greater strike. There is potential and this zone should be drilled to discover that potential.”
Recommendations
Drilling
The report recommends a series of drilling programs that can be implemented over time to prove up the required resource for a larger mining operation to be implemented:
Phase 1: Underground Drilling. Program using a “meter eater” underground drilling machine from the current Level 1 to a depth of 100m below.
Phase 2: Surface Scoping Drilling. Limited program to confirm the mineralization along the main mineralised zone across the strike of the extended claims block. The holes are between 100m and 200m spaced and are not considered to define a resource, but define continuity.
Phase 3: Resource Drilling. Resource drilling at 100m centres to provide an inferred resource. The objective of accumulating 100,000 oz with this program. This is dependent on positive results from Phase 1 and 2, and this might also give a better idea of the width of the orebody and the average grade, so all estimates may change.
Plan view of Phase 3 drilling proposal
Geochemistry
The report recommends that duplicate samples and certified reference material samples are submitted to an accredited laboratory for gold fire assay to add validity to anomalies.
Trenching
The author notes that there may be reason to include some of the surface on reef trenching in drill phases 1 and 2, as this would potentially use the same personnel as the drilling but add a small amount to the assay and consumable cost. This would assist in the surface geometry of the reef and in defining any offsets on the reef.
Metallurgical Test Work
Finally, the report states that some test work is required at Golden Valley. The outlay will be small in terms of overall costs. Material for the test work can be sourced from drill chips or from underground development. This would lead to advice on whether to change to a more cost-effective cyanide circuit, from labor-intensive vat-leach to mechanized agitation.
For more, you can read the technical report in full here.
In the meantime, Pambili looks forward to updating investors over the coming weeks during what is expected to be a very busy period of exploration for the company.