Kavango Resources plc has intercepted “higher than expected” gold grades from preliminary resource drilling at Prospect 3 on the Hillside gold project in Matabeleland, southern Zimbabwe.
EXTENSION
The programme involved 34 drill holes of between a depth of 60 metres and 105m for a total 2,109.16m.
The company said that the intercepts, within six defined mineralised shear zones across the drill holes, appeared to “increase in grade at depth”.
Results of 65 “significant” gold intersections, grading at >1g/t gold, transected across the six zones.
Returns included 0.90m at 18.11g/t gold from surface.
Chief executive Ben Turney added: “The artisanal miners appear only to have mined up to a depth of 25m from surface.
“The higher-grade, gold mineralised underlying hard rock is relatively untouched.
“The drill results from the recently completed programme show that the near-surface structures the artisanal miners have mined appear to both continue at depth and increase in grade within the deeper fresh hard rock granodiorite.
“This is encouraging for Kavango because it suggests that the target area is at least 150m wide and greater than 650m long, and remains open along strike in both directions, and open at depth.”
Kavango said it had sufficient geological information and positive assay results to begin its first direct resource definition.
DISCOVERY
The company is also preparing follow-up drilling for 2,750m to test grade continuity of gold mineralisation to depths of 200m and along strike.
The results could potentially extend the footprint and grades of Prospect 3, making for a “significant” gold discovery.
The campaign could additionally confirm the potential for selective, near-term open pit mining followed by underground mechanised mining at the site.
Third-party consultants have also started “extensive” structural surveys, comprising mapping and detailed analysis of orientated diamond drill cores, at Hillside.