PNN:CC - Pambili updates drill results from the Happy Valley Mine
(TheNewswire)
CALGARY, Canada – TheNewswire - Nov. 21, 2022 — Pambili Natural ResourcesCorporation (" Pambili " or the" Corporation ") (TSXV:PNN) announces an update to the resultspreviously reported from the recent drilling program at the HappyValley Mine (“HVM”) in Zimbabwe.
The drilling program was set out in the NI 43-101Technical Report on the Happy Valley Mine, dated March 30, 2022(“Report”) and the sampling and QA/QC protocols followed aresummarised in the news release dated September 28, 2022.
The Report, which is available on SEDAR and theCorporation’s website, was prepared by independent geologist GayleHanssen BSc. (Hons) Geology, a qualified person as defined by CanadianNational Instrument 43-101. Ms. Hanssen has reviewed and approved thetechnical information contained in this news release.
As stated in the News Release dated September 28, 2022,the most westerly drill line provided two ore-grade intercepts overthe main reef:
Hole 1 : 1.25g/t over 8m; or if using a cut-off of 1g/t Au, 2.98g/t over3m
Hole 2 : 3.98g/t over a drilled width of 7m, using a cut-off of 1g/tAu.
These intercepts are from the same ore zone, which isdipping 65 o to the north. The second intercept is at 130m below thesurface, with the intercept of Hole 1 being 40m above this. Theintercepts are contiguous with the trenched gold reef outcrop andconsistent with the known geophysical anomalies and characteristicsassociated with economic occurrences of gold deposits.
The last drill line, 150m to the east has respectableintercepts on both holes, approximately 40m apart, on the sectionline. These grades are reported as being:
Hole 9 : 2.78g/t over 2m
Hole 10 : 5.23g/t over 1m
Again, the ore zone dips to the south at 65 o and theintercepts are at similar depths to those of Holes 1 & 2 Thereforethese intercepts are considered to be in the same zone as thatintercepted in the westernmost drill line.
Although the intermediate drill lines did not showsimilar intersections, this is perhaps because they were drilled onthe crest of a hill and were not drilled deep enough. A survey of theunderground workings is planned with a view to being able to definecontinuity of an ore body between the easternmost and westernmostdrill lines. Depending on the outcome of the underground survey,further drilling may to be required to properly define the orebody.
“ Althoughthe results do not provide a basis for a resource, the intersectionsdo indicate the presence of economic grade mineralization on theproperty and this justifies further exploration to fill in thegaps,” commented Ms. Hanssen .
Pambili Chief Executive Officer (CEO) Jon Harrisstated: “Although theintermediate lines did not make the same intersections as those on theextremities, the planned survey of existing underground workings willprovide additional data to help evaluate the extent of theorebody .”
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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