KAVANGO Resources Plc says indications derived so far from the Nara Project show very positive signs which may lead to bulk, mineable gold deposits.
This follows Southern Africa’s focused miner reports indicating mineral resources at an average of 0,62 grams of gold per tonne at the Nara gold project in Zimbabwe, for a total of 5,860 ounces of gold contained.
Further, the company notes an inferred resource of 11,900 tonnes at 0.66 grams of gold per tonne for a total of 253 ounces.
Speaking on the positive progress recorded so far, Chief Executive Officer Ben Turney said the long-term plans are hinged on commercialising the projects.
“While our primary objective is to discover larger-scale, bulk mineable gold deposits, the 6,000 ounces of gold in the main tailings dump present an early opportunity for commercialising this project. We will now commence metallurgical test work to optimise plant design to enable future gold production,” he said.
Following the developments, the current stock price reached 0,78 pence each, up 12% on Wednesday afternoon in London.
Kavango has to date completed various exploration work streams at the Hillside Gold Project and intends to exercise its call option to acquire the Project based on the technical data gathered, subject to the results of a review into the impact of recent changes to Zimbabwe’s Finance Act.
Kavango Resources is an exploration company targeting world-class base and precious metal discoveries in Botswana and Zimbabwe.
The Company’s highly experienced board and management teams have a track record of delivering projects and creating shareholder value in Africa. Alongside its specialist partners, Kavango uses state-of-the-art exploration techniques and technology to uncover mineralisation in historically overlooked project areas. – (New Zimbabwe)
