Kavango Resources plc has upgraded the resource estimate, providing a measured category, for the largest tailings dump at its Nara gold project in Zimbabwe.
STRENGTHEN
The company’s first mineral resource estimate on two dumps combined showed an indicated 293,000 tonnes at an average of 0.62 g/t, for a total 5,860 oz gold contained.
New resource figures, based on additional data, of both Nara tailings dumps tested together contain an upgrade of 77,664t to the measured category, at an average of 0.54g/t for a total 1,346 oz gold contained.
Indicated mineral resource is now 221,934t at an average of 0.65 g/t gold, for 4,637 oz gold contained; inferred resource is of 12,178t at 0.66 g/t gold for 257 oz gold contained.
Kavango said that there was an opportunity to increase the tonnage at depths yet to be tested.
Testwork to assess the optimal processing route has also begun ahead of production.
Chief executive Ben Turney added that the upgrade had increased the company’s confidence in the project’s resource.
“Given that the tailings have already been mined, the upgrade in resource strengthens the attractiveness of the Nara project.
“Following our recent discovery of a near-surface, high-grade zone at Hillside, we are quickly assembling a cluster of near-term revenue generators for Kavango Mining to operate profitably alongside our main exploration activities.”
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