Kavango Resources plc has returned a second high-grade gold intercept in a “gold-bearing structure” at Bill’s Luck gold mine on the Hillside project in Matabeleland, southern Zimbabwe.
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Hole BLDDUG006 was drilled to a depth of 75.48 metres with assays showing grades of 13.60 grams a tonne over 10.40m from 64m to 74.40m.
This also included 48.50g/t over 2.81m and 1.10g/t over 3.10m.
The hole made two intersections with the first appearing to be the “down dip continuity of the Bill’s Luck main reef”.
The second appears to be a “parallel reef that lies further into the hanging wall”.
“These results appear to confirm the presence of at least one high-grade ‘ore shoot’ at Bill’s Luck that is open at depth,” said Kavanago.
The next phase of surface exploration aims to define a gold resource large enough to support mining and processing for at least three years.
“We will seek to confirm the width of the main Bill’s Luck ore shoot and test the next inferred ore shoot at Roscor [shaft],” added chief executive officer Ben Turney.
“If successful, this work will underpin the investment case for the 200 tonne per day pilot production plant.”
Underground drilling at Bill’s Luck and construction of the 50tpd plant continue.
Kavango is targeting 250tpd at Bill’s Luck in the first half of 2026.