Phase 1 resource drilling program wraps up at Happy Valley Mine
 | |||||||||
 |  |  | |||||||
CALGARY, Canada – TheNewswire - Sept. 2, 2022 — Pambili Natural Resources Corporation ("Pambili" or the "Corporation") (TSXV:PNN) is pleased to announce the completion of its Phase 1 resource drilling program at Zimbabwe’s Happy Valley Mine (“HVM”), a producing gold mine near Bulawayo.
The drill program at HVM, managed by KW Blasting of Harare, a division of Drilling Resources Zimbabwe (Private) Limited, has now executed all 1,180 metres of Reverse Circulation (RC) drilling— with holes on a 40 m line spacing, and sampling/testing taken at one-metre intervals to generate 1,180 sample points and percussion chips that characterize the geology of the different rock types.
This Phase 1 drilling program, which began in early August, was tasked with defining a 200m strike and 150m down-dip, NI 43-101-compliant resource on a drill grid of 40 m x 40 m.
See video of RC drilling on the final sample point of the Phase 1 resource drilling program at HVM.
Assay results, with appropriate interpretation and context, are expected soon. Samples are being analyzed by Kwekwe-based Antech Laboratories, Zimbabwe’s leading ISO/IEC 17025 accredited commercial metallurgical assay laboratory servicing the mining and exploration industries in Zimbabwe, the SADC region and beyond. Pambili has been submitting samples from every two holes drilled to minimize the turnaround time for full assay results.
Information gathered during Phase 1 will form the basis for estimating a mineral resource on the drilled area and helping to determine the parameters for the second phase of drilling, which will include diamond drilling and a closer hole spacing.
In December 2021, Pambili announced an earn-in agreement and an oversubscribed C$515,000 non-brokered private placement for Happy Valley Mine, which was subsequently approved by the TSX Venture Exchange in April 2022.
As part of the earn-in agreement, C$200,000 has been allocated to capital expansion of the Happy Valley Mine, in addition to the drilling program recommended by the NI 43-101 technical report on the HVM.
Click Image To View Full Size
The drilling rig used by Harare-based KW Blasting to execute Pambili’s Phase 1 drilling program at Happy Valley Mine near Bulawayo, Zimbabwe
.
About Pambili Natural Resources Corporation: Pambili Natural Resources Corporation is a natural resources exploration and development company (www.pambilinrc.com) currently active in Zimbabwe and in the province of Alberta.
For further information, contact:
Pambili Natural Resources Corporation
T: 403 277 4421
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information Forward-looking statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often, but not always, identified by words such as “believes”, “may”, “likely”, “plans”, or similar words. Forward- looking statements included in this news release include statements with respect to work to be done on the Happy Valley mine in Zimbabwe. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including, but not limited to the impact of general economic conditions, industry conditions, currency fluctuations, and dependence upon regulatory approvals. The Corporation does not assume any obligation to update the forward-looking statements to reflect changes in assumptions or circumstances other than as required by applicable law.
[NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES]