2022-09-28 | TSXV:PNN | Press release
(TheNewswire)
CALGARY, Canada – TheNewswire – September 28, 2022 — Pambili Natural Resources Corporation (“Pambili“or the”society“) (TSXV:PNN) announces that it has received the first assays of samples taken during the recent reverse circulation (“RC”) drilling program at the Happy Valley (“HVM”) mine in Zimbabwe.
An overview of the program was provided in the NI 43-101 Technical Report for the Happy Valley Mine, dated March 30, 2022 (“Report”). The report, which is available on SEDAR and on the Company’s website, was prepared by independent geologist Gayle Hanssen BSc. Geology (Hons), a Qualified Person as defined by National Instrument 43-101, who has reviewed and approved the technical information contained in this press release.
Some 1,100m of RC drilling was completed at HVM by KW Blasting Ltd., a subsidiary of Drilling Resources (Zimbabwe) Limited, with chip samples from every meter analyzed by Antech Laboratories (“Antech”), a laboratory of SADCAS accredited testing at Kwekwe.
To comply with recognized protocols, 10% of all samples submitted to Antech were submitted for QA/QC purposes. Certified standards (1.61 g/t Au and 4.8 g/t Au) were purchased from African Mineral Standards in South Africa, and all samples taken from the rig were duplicated. Blank samples (material known not to contain gold) were also submitted to Antech, and all 10 samples submitted included either a certified standard, duplicate or blank.
The westernmost drill line returned two ore grade intersections on the main reef:
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Hole 1: 1.25g/t over 8m; or if using a 1g/t Au cut-off, 2.98g/t over 3m
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Hole 2: 3.98g/t over a drilled width of 7m, using a cut-off of 1g/t Au.
There are at least two intercepted lower level parallels to the south.
Assay results for lineages further east are incomplete at this stage.
These results are consistent with the geophysical anomalies and economic occurrence characteristics of the gold deposits. Interpretation and modeling of the ore body will be completed once the remaining assay results and geology have been analyzed.
“Although a full review and interpretation of the results is still ongoing, these early results certainly indicate economic grade mineralization on section 674770,” commented Ms. Hanssen.
“These initial results confirm what local miners have known for years – ‘there’s gold in the hills!!’” said Pambili CEO Jon Harris. “Jokes aside, the results of this drill program will allow Ms. Hanssen to update our NI 43-101 Technical Report with an initial mineral resource estimate for HVM. This update will be released as soon as possible once the full set of results is available.”
About Pambili Natural Resources Corporation: Pambili Natural Resources Corporation is a natural resources exploration and development company (www.pambilinrc.com) currently active in Zimbabwe and the province of Alberta.
For more information, contact:
Pambili Natural Resources Corporation
J: 403 277 4421
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information Forward-Looking Statements – Certain information in this press release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often, but not always, identified by words such as “believes”, “may”, “likely”, “plans”, or similar words. Forward-looking statements included in this press release include statements regarding work to be carried out at the Happy Valley mine in Zimbabwe These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company’s control, including, but not limited to, the impact of general economic conditions, industry conditions, currency fluctuations and dependence on regulatory approvals.The Company undertakes no obligation to update forward-looking statements to reflect changes in assumptions or circumstances other than those required byright.
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