Drilling program begins at Happy Valley Mine
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CALGARY, Canada – TheNewswire - (Aug. 3, 2022)—Pambili Natural Resources Corporation ("Pambili" or the "Corporation") (TSXV:PNN) is pleased to announce that drilling has begun at the Happy Valley Mine (“HVM”) in Zimbabwe to validate previous surface exploration work.
The drilling rig, owned and operated by KW Blasting of Harare, a division of Drilling Resources Zimbabwe (Private) Limited, is now engaged in a Phase 1 resource drilling program to define a 200-metre strike and 150m down-dip, NI 43-101-compliant resource on a drill grid of 40m x 40m.
The program requires about 1,180m of Reverse Circulation (RC) drilling, with holes on a 40m line spacing. Sampling and testing will be taken at one-metre intervals, generating 1,180 sample points and percussion chips that characterize the geology of the different rock types. This information will form the basis for estimating a mineral resource on the drilled area and help determine the parameters for the second phase of drilling, which will include diamond drilling and a closer hole spacing. More details of the program are available in the National Instrument (NI) 43-101 Technical Report on the Happy Valley Mine.
CEO Jon Harris commented: “Despite the plethora of small-scale gold mines in Zimbabwe, very few—if any—have had the required resources to drill out their claims and therefore do not know the full potential of their assets. Pambili believes that by investing in clearly defined drilling programs, it can be the game-changer in the small-scale mining sector in Zimbabwe. This program at the Happy Valley Mine is only the start of our journey.”
Watch video of drilling activities at Happy Valley Mine.
Samples from the campaign will be analyzed by Antech Laboratories in Kwekwe. Antech is Zimbabwe’s leading ISO/IEC 17025 accredited commercial metallurgical assay laboratory servicing the mining and exploration industries in Zimbabwe, the SADC region and beyond. The intention is to submit samples from every two holes drilled so as to minimise the time taken to get the full assay results.
The NI 43-101 report, completed in early 2022, states: “The surface exploration work that has been completed has verified historical production from the gold reef present on the claim; however, there is clearly the requirement for a drilling campaign to determine the extent and magnitude of the gold mineralization.”
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.
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