Promising findings from Gwanda mining claims

Canadian mining company Pambili Natural Resources Corporation has revealed promising findings from its London Wall group of gold mines and claims in the Gwanda district of Matabeleland South, Zimbabwe. The miner disclosed the potential for substantial gold deposits, with the capacity to produce up to 18 tonnes of commercially viable gold per day.

Pambili entered into a 12-month option agreement in November 2024 with Long Strike Investments (Pvt) Limited to acquire 21 gold claims covering 173 hectares. These include the previously operational London Wall and New Jessie mines. In addition, Long Strike has applied for extensions to the claims, spanning an additional 547.8 hectares, which, if approved, will be included in the agreement.

Geologists at Long Strike Investments have expressed confidence in the mineralisation of the claims. The London Wall group of mines lies within a geological setting marked by a dolerite sill, an igneous rock layer that may be concealing valuable gold deposits below.

"The near-term, cash-generative potential of Pambili's option agreement to acquire the London Wall mines is clear," the company said in a statement to shareholders. "And well below the surface, more treasure potentially awaits."

Pambili CEO Jon Harris highlighted the potential for significant returns:
"The option to acquire the London Wall group of mines provides Pambili with a potentially significant source of near-term cash flow and the opportunity to conduct further evaluations ahead of a possible acquisition."

Geologists have already identified underground mining targets for the next three months as part of the company's due diligence process. The West Shaft of the London Wall mine, which extends through the dolerite sill, has shown encouraging historic gold grades, although these remain unverified.

Pambili plans to carry out extensive exploration, drilling, and development beneath the sill in areas that were previously mined to establish the potential for large-scale underground mining.

During the option period, Pambili will retain 95% of gross income generated from the claims and mines, with full rights to mine and develop the assets. This agreement strengthens Pambili's portfolio, which already includes the Gold Valley Mine, where the company has found economically viable gold deposits through recent drilling activities.

The potential success of Pambili's operations in the Gwanda district could significantly contribute to the region's mining sector and Zimbabwe's broader economic growth. Matabeleland South is one of Zimbabwe's richest gold-producing areas, and investments such as Pambili's are expected to create employment opportunities and support local communities.

As exploration and development progress, the company remains optimistic about unlocking the full potential of the London Wall mines, which could bolster its standing in the competitive gold mining industry.