Kavango discovers high-grade gold in Zimbabwe

Kavango Resources, a London-listed and Victoria Falls Stock Exchange-listed metals exploration and gold production company, has reported encouraging results from its latest surface drilling programme at the Bill's Luck Gold Mine, part of its Hillside Project in southern Zimbabwe.

The company highlighted a standout intersection of 8.05 metres at a depth of 158.62 metres, grading 8.09 grams per tonne (g/t) of gold, from its two-hole diamond drilling campaign.

The multiphase exploration programme, which combines diamond and reverse circulation drilling, aims to deliver a maiden mineral resource estimate to support future mine planning and scheduling. The results released on September 22 come from the first two completed diamond drill holes.

The first hole, drilled to 250 metres, returned notable assays including 5.10g/t over 2.18m from 28.00m depth, 13.66g/t over 2.75m from 134.00m, and 7.87g/t over 2.60m from 209.80m. The second hole, also drilled to 250 metres, intersected 3.49g/t over 5.69m from 28.90m, 9.31g/t over 1.00m from 85.55m, and the headline 8.09g/t over 8.05m from 158.62m.

"Surface diamond drilling at Bill's Luck continues to exceed our expectations. We've now confirmed that the main Bill's Luck ore body extends to at least 160m vertical depth, with multiple high-grade intersections throughout the latest exploration holes. We are particularly encouraged by the 8.05m intersection at 158.62m carrying 8.09g/t gold," said Kavango CEO Ben Turney.

Turney added that the company is preparing to advance mining operations by extending shaft sinking from the current three-level to a four-level operation, signaling a key step toward increasing production capacity.

The latest results reinforce Kavango's view that Bill's Luck is a high-potential gold deposit, bolstering plans for future mine development and long-term value creation.