Kavango Resources plc said it had interpreted several new structures, as well as extensions to structures associated with old mines, at its Nara gold exploration option in Zimbabwe.
CONFIDENT
Nara comprises 45 contiguous gold claims, each of 10 hectares, and covers four historic mines.
Competed induced polarisation survey work of seven lines for 6,600m over selected target areas revealed the new areas.
Further further drill targets are expected following inversion of data and modelling.
The company added that six scoping holes are also now complete to test the gold-bearing potential underneath artisanal surface workings totalling 1,364.4m, with samples sent for assay.
Kavango plans to work with a mining consultant to evaluate the economic viability of different mining approaches at Nara.
In addition, the company expects to bring a second drill into the country, as its current rig is booked to run continuously at the Hillside project for the rest of 2024.
Metallurgical and economic studies also continue on tailings from the Nara dumps and on potential feed material from underground mines.
Chief executive Ben Turney said that modern exploration could transform Zimbabwe’s mining economy.
“Technologies, such as induced polarisation, have not been widely deployed here. This despite the enormous potential for undiscovered, large-scale gold deposits.
“As one of the first companies to pursue modern exploration in Zimbabwe’s greenstone belts, Kavango has a significant first mover advantage.
“The latest results from our Nara gold exploration project underline the strength of our position.
“With the success we are having at Hillside, using the same exploration methods, we feel confident in what we are seeing here.”
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