UK firm makes promising gold discoveries in Zim

Source: UK firm makes promising gold discoveries in Zim – herald

Nqobile Bhebhe

Zimpapers Business Hub

LONDON-listed Kavango Resources Plc has unearthed a series of new significant gold intercepts at its flagship Hillside Gold Project near Bulawayo, strengthening Zimbabwe’s appeal as a competitive mining destination.

Mining accounts for more than three-quarters of Zimbabwe’s exports, with gold making up the largest chunk of the shipments from the extractive sector.

Zimbabwe is targeting gold production of 40 tonnes this year, which would surpass last year’s record of 36,48 tonnes.

This target is being pursued through increased production from both large-scale and small-scale miners.

Small-scale miners accounted for the majority of the deliveries last year at 23 745 kilogrammes.

Kavango, which owns three projects in Zimbabwe, is concentrating efforts on the Hillside Project, which spans 44 gold claims across 503 hectares.

Its latest exploration success follows the drilling at the Prospect 4 target, now renamed Steenbok, where Kavango completed 3 232 metres of diamond drilling.

“Kavango Resources Plc, the Southern Africa-focused metals exploration and gold production company, is pleased to announce further significant gold intercepts at the Prospect 4 Steenbok Target in the Hillside Project,” the company said.

Of the eight holes drilled, seven intersected promising gold mineralisation, with 69 significant gold intersections identified using a cut-off grade of 0,7g/t Au.

Kavango said 41 of these exceeded 1g/t, pointing to the potential of a commercially viable deposit. The firm engaged Murgana Geological Consulting Limited, a specialist in structural geology, to conduct a thorough review.

Their findings confirmed that ore mineralisation at Steenbok is structurally controlled by a network of shear zones that act as both feeders and traps for hydrothermal fluids, a strong indicator of mineral concentration zones.

“Based upon the extent of the claims, geological mapping and the structural review, the company believes the strike length at Steenbok is up to 1,5km long and open in both directions,” Kavango added.

Kavango is now preparing to follow up exploration and drill programmes at Steenbok, including geotechnical drilling to assess rock competency and support possible future mining operations.

Kavango CEO Mr Ben Turney described the results as “highly encouraging,” noting that the company had specifically targeted 400m of strike length and confirmed gold mineralisation throughout.

“With strong gold grades encountered in 6 of the 7 holes we drilled and confirmation of the structural controls, we are making real progress in building a robust geological model,” he said.

He also noted the geological similarities to major Australian gold systems, calling it “an exciting comparison that validates our strategy”.

“The comparison with gold systems seen in Australia is exciting and validates our ongoing strategy. We look forward to commencing geotechnical drilling shortly as we move towards a potential development decision.”

Mr Turney confirmed that Kavango will now initiate geotechnical drilling to assess rock stability and support potential mining development.

Kavango’s other projects in Zimbabwe include the Nara Gold Project and the Leopard Project, both of which remain under early-stage exploration.