PNN:CC - Phase 1 resource drilling program wraps up at Happy Valley Mine
(TheNewswire)
CALGARY, Canada – TheNewswire - Sept. 2, 2022 — Pambili Natural ResourcesCorporation (" Pambili " or the " Corporation ")( TSXV:PNN ) is pleased to announce the completion of its Phase 1resource drilling program at Zimbabwe’s Happy Valley Mine(“ HVM ”), a producing gold mine near Bulawayo.
The drill program at HVM, managed by KW Blasting ofHarare, a division of Drilling Resources Zimbabwe (Private) Limited,has now executed all 1,180 metres of Reverse Circulation (RC)drilling— with holes on a 40 m line spacing, and sampling/testing taken at one-metre intervals to generate 1,180sample points and percussion chips that characterize the geology ofthe different rock types.
This Phase 1 drilling program, which began in earlyAugust, was tasked with defining a 200m strike and 150m down-dip, NI43-101-compliant resource on a drill grid of 40 m x 40 m.
Seevideo of RC drilling on the final sample point of the Phase 1 resourcedrilling program at HVM.
Assay results, with appropriate interpretation andcontext, are expected soon. Samples are being analyzed by Kwekwe-basedAntech Laboratories, Zimbabwe’s leading ISO/IEC 17025 accreditedcommercial metallurgical assay laboratory servicing the mining andexploration industries in Zimbabwe, the SADC region and beyond.Pambili has been submitting samples from every two holes drilled tominimize the turnaround time for full assay results.
Information gathered during Phase 1 will form the basisfor estimating a mineral resource on the drilled area and helping todetermine the parameters for the second phase of drilling, which willinclude diamond drilling and a closer hole spacing.
In December 2021, Pambili announced an earn-in agreement and anoversubscribed C$515,000 non-brokered privateplacement for Happy Valley Mine,which was subsequently approved by the TSX Venture Exchange in April2022 .
As part of the earn-in agreement, C$200,000 has been allocated to capitalexpansion of the Happy Valley Mine,in addition to the drilling programrecommended by the NI 43-101 technical report on the HVM.
The drilling rig used byHarare-based KW Blasting to execute Pambili’s Phase 1 drillingprogram at Happy Valley Mine near Bulawayo, Zimbabwe
.
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-lookingstatements are subject to numerous risks and uncertainties, certain ofwhich are beyond the control of the Corporation, including, but notlimited to the impact of general economic conditions, industryconditions, currency fluctuations, and dependence upon regulatoryapprovals. The Corporation does not assume any obligation to updatethe forward-looking statements to reflect changes in assumptions orcircumstances other than as required by applicable law.
[NOT FOR DISTRIBUTION TO U.S.NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES]
Copyright (c) 2022 TheNewswire - All rights reserved.