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Kavango uncovers lucrative gold deposit in Bulawayo
3 hrs ago |
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Southern Africa-focused miner Kavango Resources has announced a major gold discovery at its Hillside Gold Project in Bulawayo, describing it as a breakthrough that could transform the company's operations in Zimbabwe.
The discovery, located at the project's Nightshift Prospect, has been confirmed as a gold deposit with significant upside potential. According to the company, the deposit is expected to yield high ore and ounce outputs per vertical metre, reinforcing Kavango's strategy to boost production through modern, mechanised mining and processing technologies.
A preliminary JORC-compliant Mineral Resource Estimation has exceeded internal expectations, prompting Kavango to consider expanding its planned processing capacity at the nearby Bills Luck Gold Mine from 200 tonnes per day (tpd) to 300 tpd.
Kavango Resources CEO Ben Turney hailed the development as a "landmark achievement" for the company.
"This maiden JORC resource at Nightshift is a defining moment for Kavango. It proves that our gold development strategy in Zimbabwe is working and that our decision to focus on near-surface, fast-track production targets is delivering results," Turney said.
He noted that when exploration at Hillside began in mid-2023, the company's goal was to pinpoint deposits capable of delivering early production and cash flow through efficient, scalable methods.
"This is a fantastic accomplishment by our team, who deserve all the praise for the hard work they have put into making this happen," Turney added. "Our initial drilling covered only about 15% of the known 700-metre strike and reached just 50 metres in depth, yet the results have exceeded expectations."
Turney said the company's findings - including gold-bearing structures extending over 200 metres below surface - suggest strong potential for future underground mining.
Kavango's latest discovery strengthens its position in Zimbabwe's resurgent gold sector, which continues to attract investment as the government pushes for increased beneficiation and value addition in the mining industry.
The discovery, located at the project's Nightshift Prospect, has been confirmed as a gold deposit with significant upside potential. According to the company, the deposit is expected to yield high ore and ounce outputs per vertical metre, reinforcing Kavango's strategy to boost production through modern, mechanised mining and processing technologies.
A preliminary JORC-compliant Mineral Resource Estimation has exceeded internal expectations, prompting Kavango to consider expanding its planned processing capacity at the nearby Bills Luck Gold Mine from 200 tonnes per day (tpd) to 300 tpd.
Kavango Resources CEO Ben Turney hailed the development as a "landmark achievement" for the company.
"This maiden JORC resource at Nightshift is a defining moment for Kavango. It proves that our gold development strategy in Zimbabwe is working and that our decision to focus on near-surface, fast-track production targets is delivering results," Turney said.
He noted that when exploration at Hillside began in mid-2023, the company's goal was to pinpoint deposits capable of delivering early production and cash flow through efficient, scalable methods.
"This is a fantastic accomplishment by our team, who deserve all the praise for the hard work they have put into making this happen," Turney added. "Our initial drilling covered only about 15% of the known 700-metre strike and reached just 50 metres in depth, yet the results have exceeded expectations."
Turney said the company's findings - including gold-bearing structures extending over 200 metres below surface - suggest strong potential for future underground mining.
Kavango's latest discovery strengthens its position in Zimbabwe's resurgent gold sector, which continues to attract investment as the government pushes for increased beneficiation and value addition in the mining industry.
Source - The Herald
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