Pambili Natural Resources (TSXV:PNN) has shared the latest developments in its ongoing underground drilling program at the Golden Valley Mine (GVM) in Zimbabwe. The company aims to uncover a new gold resource that could be brought into production quickly.
Jon Harris, Chief Executive Officer of Pambili Natural Resources, commented in a press release: “It is encouraging to see that our first two holes encountered known gold pathfinder minerals like pyrite and quartz. The down-dip hole is not yet complete, but even within the first 25m we have encountered mineralized zones including pyrite along with several quartz stringers. We look forward to seeing how much more mineralization we encounter as the hole reaches its planned depth. We also look forward to receiving assay results from our core over the coming weeks. These results will provide Pambili with a better understanding of GVM’s commercial gold potential beyond the extent of the historic underground mining area. Improving our understanding on the structural controls of gold mineralization at GVM will help to improve the targeting of our remaining underground holes as well as planning the surface holes required to target a code-compliant mineral resource at the Project.”
Pambili resumed gold production at Golden Valley Mine earlier in 2024. Current operations involve processing sands sourced from third-party toll-milling facilities alongside material from underground drives created to support the drilling program. These efforts form part of a broader plan to revitalize the mine and assess its potential for further gold extraction.
The drilling program at GVM includes six planned holes. Two of these, labeled EADD004 and EADD006, have already been completed. Each hole reached a depth of 100 meters, targeting a northwest-trending shear zone. This zone was identified through earlier airborne geophysical surveys and is believed to be a parallel structure to the historically mined orebody at the site. The company hopes to better understand this feature’s potential role in future gold extraction efforts.
A third hole, EADD001, represents the first down-dip test of the historical orebody. Drilling has reached a depth of 25 meters so far, with completion expected in the coming days. This hole seeks to explore the downward continuity of the orebody previously mined at Golden Valley. Results from this hole may provide crucial insights into whether deeper mineralization can support ongoing and expanded production.
Pambili has also sent 15.2 meters of core samples from its completed drilling for laboratory analysis. The samples were chosen based on their visible sulfide mineralization or potential to contain gold. These assays are being conducted at an ISO/IEC 17025-accredited commercial metallurgical laboratory in Zimbabwe. The results are expected to influence the planning of the remaining holes in the program, ensuring drilling focuses on the most promising areas.
Pambili’s efforts at Golden Valley Mine are part of a broader strategy to establish a sustainable gold production operation in Zimbabwe. With historical mining activity at the site, the company sees significant potential for both near-term production and long-term resource expansion. The ongoing drilling and testing aim to substantiate these expectations, providing a clearer understanding of the mine’s resource potential.
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
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