Kavango Resources Plc has discovered promising results at its gold project in Southern Zimbabwe in a development that has further pushed the entity’s stock price by 12%.
The top miner has sustained 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.
In a market update Monday, the London-based Southern Africa-focused company said it had found 29,08 grams of gold per tonne at the Hillside Prospect 4 gold asset in Matabeleland, southern Zimbabwe after drilling the SKDD001 hole.
The hole contains multiple further broad zones of geochemically anomalous gold values thought to relate to additional shear zones.
Results are pending on four other holes drilled across three other Hillside prospects on the back of plans by the miner to also examine near surface gold mining potential at prospect 4, based on intersected grades and ongoing artisanal mining in the area.
Kavango CEO, Ben Turney said the results seen so far surpass the company’s initial expectations.
“This result far surpasses our expectations at prospect 4. Prospect 4 is our fourth-ranked target at Hillside. These results underline the Hillside project’s overall potential to host over [one] million ounces of mineable gold,” he said.
The company is set to tap into Zimbabwe’s rich mining history potential with a rich history of gold mining across 22 greenstone belts and 4,000 registered mines. The country also has under-explored modern-day, bulk mining potential with wide open doors to foreign investment following the removal of indigenisation policy among others. – (New Zimbabwe)
