PNN:CC - Pambili receives first drill results from the Happy Valley Mine
(TheNewswire)
CALGARY, Canada – TheNewswire - Sept. 28, 2022 — Pambili Natural ResourcesCorporation (" Pambili " or the" Corporation ") (TSXV:PNN) announces that ithas received the first assays of samples taken during the recentreverse circulation (“RC”) drilling program at the Happy ValleyMine (“HVM”) in Zimbabwe.
An outline of the program was set out in the NI 43-101Technical Report on the Happy Valley Mine, dated March 30, 2022(“Report”). The Report, which is available on SEDAR and theCorporation’s website, was prepared by independent geologist GayleHanssen BSc. Geology (Hons), a qualified person as defined by CanadianNational Instrument 43-101, who has reviewed and approved thetechnical information contained in this news release.
Some 1,100m of RC drilling was completed at HVM by KWBlasting Ltd., a subsidiary of Drilling Resources (Zimbabwe) Limited,with chip samples from each metre being assayed by Antech Laboratories(“Antech”), a SADCAS Accredited Testing Laboratory inKwekwe.
To conform with recognized protocols, 10% of allsamples submitted to Antech were for QA/QC purposes. Certifiedstandards (1.61g/t Au and 4.8g/t Au) were procured from AfricanMineral Standards in South Africa, and all samples collected at therig were duplicated. Blank samples (material known not to containgold) were also submitted to Antech, and every 10 samples submittedincluded either a certified standard, a duplicate or a blank.
The most westerly drill line provided two ore-gradeintercepts over the main reef:
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Hole 1 : 1.25g/tover 8m; or if using a cut-off of 1g/t Au, 2.98g/t over 3m
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Hole 2 : 3.98g/tover a drilled width of 7m, using a cut-off of 1g/t Au.
There are at least two lower grade parallelsintercepted to the south.
The assay results for the lines further east areincomplete at this stage.
These results are consistent with geophysical anomaliesand characteristics of economic occurrences of gold deposits.Interpretation and modelling of the ore body will be completed oncethe remaining assay results and geology are analyzed.
“ Although afull review and interpretation of the results is still underway, theseinitial results certainlypoint to economic grade mineralization on section 674770,” commented Ms. Hanssen .
“These initial results confirmwhat local miners have known for years – ‘there’s gold in themthar hills!’” said Pambili Chief ExecutiveOfficer (CEO) Jon Harris .“Joking aside, the results of this drilling program will allow Ms.Hanssen to update our NI 43-101 technical report with an initialmineral resource estimate for the HVM. This update will be publishedas soon as possible after the complete set of results isavailable.”
About Pambili Natural ResourcesCorporation: Pambili Natural ResourcesCorporation is a natural resources exploration and development company( www.pambilinrc.com ) currentlyactive in Zimbabwe and in the province of Alberta.
For further information,contact:
Pambili NaturalResources Corporation
T : 403 2774421
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Caution Regarding Forward-Looking InformationForward-looking statements - Certain information set forth in thisnews release may contain forward-looking statements that involvesubstantial known and unknown risks and uncertainties. Forward-lookingstatements are often, but not always, identified by words such as“believes”, “may”, “likely”, “plans”, or similarwords. Forward- looking statements included in this news releaseinclude statements with respect to work to be done on the Happy Valleymine in Zimbabwe. These forward-looking statements are subject tonumerous risks and uncertainties, certain of which are beyond thecontrol of the Corporation, including, but not limited to the impactof general economic conditions, industry conditions, currencyfluctuations, and dependence upon regulatory approvals. TheCorporation does not assume any obligation to update theforward-looking statements to reflect changes in assumptions orcircumstances other than as required by applicable law.
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