Phase 1 resource drilling program wraps up at Happy Valley Mine
Pambili Natural Resources Corporation is pleased to announce the completion of its Phase 1 resource drilling program at Zimbabwe’s Happy Valley Mine (“HVM”), a producing gold mine near Bulawayo.
The drill program at HVM, managed by KW Blasting of Harare, a division of Drilling Resources Zimbabwe (Private) Limited, has now executed all 1,180 metres of Reverse Circulation (RC) drilling – with holes on a 40 m line spacing, and sampling/testing taken at one-metre intervals to generate 1,180 sample points and percussion chips that characterize the geology of the different rock types.
This Phase 1 drilling program, which began in early August, was tasked with defining a 200m strike and 150m down-dip, NI 43-101-compliant resource on a drill grid of 40m x 40m.
Assay results, with appropriate interpretation and context, are expected soon. Samples are being analyzed by Kwekwe-based Antech Laboratories, Zimbabwe’s leading ISO/IEC 17025 accredited commercial metallurgical assay laboratory servicing the mining and exploration industries in Zimbabwe, the SADC region and beyond. Pambili has been submitting samples from every two holes drilled to minimize the turnaround time for full assay results.
Information gathered during Phase 1 will form the basis for estimating a mineral resource on the drilled area and helping to determine the parameters for the second phase of drilling, which will include diamond drilling and a closer hole spacing.
In December 2021, Pambili announced an earn-in agreement and an oversubscribed C$515,000 non-brokered private placement for Happy Valley Mine, which was subsequently approved by the TSX Venture Exchange in April 2022.
As part of the earn-in agreement, C$200,000 has been allocated to capital expansion of the Happy Valley Mine, in addition to the drilling program recommended by the NI 43-101 technical report on the HVM.
