Kavango Resources Unveils Significant Gold Intercepts in Zimbabwe's Hillside Gold Project
Kavango Resources Plc has achieved a significant milestone in its exploration endeavors, discovering new gold intercepts at its flagship Hillside Gold Project near Bulawayo, Zimbabwe. The company's fortunes are rising, bolstering Zimbabwe's reputation as a competitive mining destination. This breakthrough follows extensive drilling at the Prospect 4 target, now renamed Steenbok, where Kavango Resources successfully completed 3,232 meters of diamond drilling.
Key Takeaways:
- Kavango Resources unearthed 69 significant gold intersections at the Prospect 4 Steenbok Target, with 41 exceeding 1g/t Au using a cut-off grade of 0.7g/t Au.
- Seven out of eight holes drilled at the Steenbok Target intersected promising gold mineralization, indicating potential for a commercially viable deposit.
- The structural review conducted by Murgana Geological Consulting Limited confirmed that ore mineralization at Steenbok is structurally controlled by a network of shear zones.
- The company believes the strike length at Steenbok is up to 1.5km long and open in both directions.
- Kavango Resources is preparing to follow-up with exploration and drill programs at Steenbok, including geotechnical drilling to assess rock competency and support possible future mining operations.
- CEO Ben Turney described the results as "highly encouraging" and highlighted the geological similarities to major Australian gold systems.
Statistics:
- 69 significant gold intersections were identified at the Steenbok Target.
- 41 of these intersections exceeded 1g/t Au.
- 7 out of 8 holes drilled at Steenbok intersected promising gold mineralization.
- 3,232 meters of diamond drilling were completed at the Steenbok Target.
- Kavango Resources' Gulf claims span 503 hectares.
Sources:
- "Kavango Resources plc, the Southern Africa-focused metals exploration and gold production company..." - Kavango Resources plc
- Murgana Geological Consulting Limited - structural review