(TheNewswire)
CALGARY, Canada (Nov. 12, 2024)— TheNewswire - Pambili Natural Resources Corporation ("Pambili" or the "Corporation") (TSX-V: PNN) is pleased to provide an update on its underground drilling program at its Golden Valley Mine (“GVM”) in Zimbabwe.
Pambili is conducting a planned six-hole drilling program at GVM with the objective of identifying a gold resource it can rapidly bring into production. The Corporation re-started gold production at GVM earlier this year, processing sands from the Project’s third-party toll-milling facilities as well as from processing material from the drives developed to facilitate the underground drilling program.
To date, Pambili has completed two holes—EADD004 and EADD006—each to a depth of 100 metres, targeting a NW-trending shear previously interpreted from airborne geophysics. Pambili is investigating the potential that this shear represents a parallel structure to the historically mined orebody at GVM.
Pambili’s first down-dip hole—EADD001—has reached a depth of some 25m and is expected to be completed over the coming days. This hole is testing the down-dip continuity of the historic GVM orebody.
The lithology of the core retrieved from the holes drilled to date along with planned remaining holes can be seen in the schematic below. The red wireframes are interpretation of quartz veins that appear in both EADD004 and EADD006.
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Figure 1: 3D representation of the DD holes completed at GVM as well as the direction of the planned additional holes.
Pambili has also selected some 15.2m of core from its drilling to date for assaying at an ISO/IEC 17025-accredited commercial metallurgical assay laboratory in Zimbabwe.
This core either displays sulphide mineralization or the potential to carry gold, and Pambili expects the results of assaying to help guide the direction of subsequent holes.
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Figure 2: Examining core samples at GVM.
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Figure 3: Pyrite mineralization.
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Figure 4: Pyrite mineralization.
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Figure 5: Medium-fine grained pyrite following the direction of the fabric.
Jon Harris, Chief Executive Officer of Pambili Natural Resources, commented:
“It is encouraging to see that our first two holes encountered known gold pathfinder minerals like pyrite and quartz. The down-dip hole is not yet complete, but even within the first 25m we have encountered mineralized zones including pyrite along with several quartz stringers. We look forward to seeing how much more mineralization we encounter as the hole reaches its planned depth.
We also look forward to receiving assay results from our core over the coming weeks. These results will provide Pambili with a better understanding of GVM’s commercial gold potential beyond the extent of the historic underground mining area.
Improving our understanding on the structural controls of gold mineralization at GVM will help to improve the targeting of our remaining underground holes as well as planning the surface holes required to target a code-compliant mineral resource at the Project.”
Pambili’s independent geologist, Gayle Hanssen BSc. (Hons.) Geology, a qualified person as defined by National Instrument 43-101 has reviewed and approved the technical information contained in this news release.
About Pambili Natural Resources Corporation: Pambili Natural Resources Corporation is a natural resources exploration and development company (www.pambilinrc.com) currently active in Zimbabwe and in the province of Alberta.
For further information, contact:
Pambili Natural Resources Corporation
Jon Harris (CEO)
T: 403 277 4421
E: jon.harris@pambilinrc.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information Forward-looking statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often, but not always, identified by words such as “believes”, “may”, “likely”, “plans”, or similar words. Forward- looking statements included in this news release include statements with respect to work to be done on the Golden Valley mine in Zimbabwe. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including, but not limited to the impact of general economic conditions, industry conditions, currency fluctuations, and dependence upon regulatory approvals. The Corporation does not assume any obligation to update the forward-looking statements to reflect changes in assumptions or circumstances other than as required by applicablelaw.
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