CALGARY, Canada - TheNewswire - 25 November, 2024 – Pambili Natural Resources Corporation ("Pambili" or the "Company") (TSX-V: PNN) is pleased to announce identification of a new high grade vein at Shaft 14 of the Company’s Golden Valley Project, Zimbabwe (“Golden Valley”).

Recent cleaning out of the old workings on Shaft 14 (across the valley to the West of the East Adit where the underground drilling is taking place) has exposed a very encouraging oxide ore body. A grab sample of the friable material taken over approximately 70cm of the exposed reef panned a 1cm long tail of visible gold. A series of additional grab samples was submitted to the local non-accredited laboratory in Bulawayo as a check and returned supporting high grades, including:

• Sample 1 returned 192.50 grams a tonne (“g/t”) from fire assay   

• Sample 2 returned 75 g/t from a bottle roll* 

• Sample 3 returned 63 g/t from a bottle roll.*  

• A grab sample of the hanging wall to the orebody also yielded over 1 g/t indicating that the reef is not fully exposed. 

*        Both bottle roll samples will be resubmitted to the laboratory for re-analyses at longer residence times for a better extraction.

Pambili’s mining team is currently cleaning out the historical workings and timbering them to make the workings safe. Thereafter, a survey of the sample points will be completed and the development pushed forward to access the ore for systematic sampling and extraction to the mill.

Jon Harris, Chief Executive Officer of Pambili Natural Resources, commented:

“These are highly encouraging results from Golden Valley and support anecdotal evidence that Shaft 14 made a significant contribution to previous gold production at Golden Valley . Following last week’s announcement of our option to acquire the London Wall Project, Pambili is on course to increase its gold production significantly in 2025.

The 70cm high-grade vein we’ve found at Golden Valley has returned exceptional grades. These included 63g/t and 75g/t from two separate bottle rolls and 192.5g/t from a third sample, which was fire assayed. As a result, we’ve increased security at the mine.

Our focus now at Golden Valley is to develop Shaft 14 for near-term revenue, while we complete our preliminary underground exploration drilling. This is ongoing and we look forward to updating the market with results in the coming weeks.”

 

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Figure 1 – Newly identified 70cm vein in Shaft 14 at Golden Valley Mine.

   

Figure 2. Dark oxide material taken from Shaft 14, with abundant visible gold.

 

Figure 3. 1cm tail of of gold from hand full-panning a grab sample of friable material taken from Shaft 14

 

This news release has been reviewed by Gayle Hanssen BSc. (Hons.) Geology, an independent geologist who is a qualified person (“QP”) as defined by Canadian National Instrument 43-101 who has approved the technical information contained herein.

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

Jon Harris (CEO)

T: 403 277 4421

E: jon.harris@pambilinrc.com

 

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 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 Corporation’s gold exploration and development projects 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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