London Wall option agreement (Part 4): Going deep for potential treasure
Longitudinal section of the London Wall East Shaft, depicting underlying dolerite sill.
Shafts at London Wall mine underlain by dolerite sill, which is potentially shielding substantial gold mineralization
CALGARY, Canada (Jan. 26, 2025)—The near-term, cash-generative potential of Pambili Natural Resources Corporation’s option agreement to acquire the London Wall group of mines and claims is clear.
And well below the surface, more treasure potentially awaits.
Geologists with Long Strike Investments (Private) Limited, with whom Pambili has signed this option agreement, are encouraged by the geological setting of the claims covering the London Wall group of mines.
Specifically, a dolerite sill—that’s a sheet of igneous rock (formerly magma) that forces its way between layers of sedimentary rock—that may be shielding something extremely valuable.
Here’s the situation:
Historical mining operations on the property in question have only been developed to a maximum depth of 200 metres
Their down-dip, on-strike and parallel potential, however, remain untested
Shafts of the London Wall mine are underlain by a regional dolerite sill
Capital constraints and/or historically low gold prices may have prevented previous owners of London Wall from developing beneath this sill to test for potential gold mineralization
The belief: This regional sill has acted as a “protective barrier” to that potentially substantial, untapped gold mineralization
All of which leaves a significant opportunity for the creation of value from both the claims and the mines
“The option to acquire the London Wall group of mines provides Pambili with a potentially significant source of near-term cash flow, and also provides time to further evaluate the claims and mines ahead of a possible exercise of the option,” notes Pambili CEO Jon Harris.
What’s next?
Geologists with Long Strike have already identified underground mining targets for the next three months—a plan that seems reasonable to Pambili, and will be part of our due diligence.
The West Shaft of the London Wall mine, though, does extend through this dolerite sill—with unverified samples returning encouraging historic grades.
Longitudinal section showing that historic mining at the London Wall West Shaft penetrated through the sill. The area beneath the sill (depth to be confirmed) has unmined potential.
With more extensive exploration, drilling and development beneath this sill in previously mined areas, Pambili will establish the potential for underground mining on a much larger scale within the claims and mines.
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.