London Wall option agreement (Part 3): A trio of major regional gold-bearing structures
The London Wall group of mines highlighted within the Long Strike option claim area, outlined in blue. The three London Wall shafts are shown to the west and the New Jessie Mine to the east. The producing Jessie Mine on strike from the London Wall group of mines is shown to the southeast, outside the claim area.
Previous production data, artisanal gold-working history indicate favorable potential
CALGARY, Canada (Jan. 7, 2025)—If the past is indeed prologue, then Pambili Natural Resources Corporation’s option agreement to acquire the London Wall group of gold mines and claims in Zimbabwe appears very promising.
Not only does the option include two previously producing gold mines in London Wall and New Jessie—the claims are located on three interpreted major regional gold-bearing geological structures.
“Although the historical data has yet to be independently verified, the reported figures corroborate previous production records, and we are excited to have this opportunity to confirm the potential of the the project,” says our CEO Jon Harris.
Gold mineralization within the claims—according to the technical team at Long Strike Investments (Private) Limited, with whom we’ve signed this option agreement—is controlled by three main regional geological structures, all of which converge on the 1.3-kilometre-deep Jessie Mine, located just outside the southeast extent of the claims area:
The southern structure, 1.4 km of which is covered by the claims, includes the previously producing London Wall mine;
The central or Jessie structure, inclusive of the New Jessie mine as well as the Jessie Mine, which has recorded production of more than 440,000 ounces at recovered grades of 10.5 g/t, and has been operated continuously for nearly 100 years; and
The northern structure, which runs along the contact of a Banded Iron Formation (“BIF”) and felsic intrusive formation, and hosts a number of artisanal gold workings, which have never been systematically explored using modern mining methodologies
Significantly, prior to Pambili’s agreement, the owners of the Jessie Mine were reportedly mining the London Wall and New Jessie mines under a tribute agreement with previous owners of those mines, and were reported to be extracting about 18 tonnes of material a day at commercial grades. Detailed figures are not available at this time.
Importantly, during the term of this option agreement with Long Strike (12 months, exercisable to 24 months), Pambili will retain 95% of any gross income generated from the claims and mines—with an unencumbered right to mine and develop assets.
Long Strike has applied for contiguous extensions to the claims, totaling 547.8 hectares in addition to the claims included in the option, which cover 173 hectares. Once granted, these extensions will be included in the option.