PNN:CC - Soil sampling confirms anomalies at Golden Valley project
(TheNewswire)
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CALGARY, Canada – TheNewswire - (March 25, 2024)— Pambili Natural Resources Corporation (“Pambili” or the“Company”) (TSX-V:PNN) is pleased to announce that it hasidentified three new anomalous zones over its Golden Valley goldmining project (“Golden Valley”).
The Company identified the anomalies throughgeochemical soil sampling at Golden Valley. Samples were taken fromapproximately 30 to 40 centimeters (“cm”) below surface on a100-meter (“m”) line spacing and 50m station spacing.
Pambili sieved the samples in the field beforereturning them to its field office. The Company then used PortableX-ray Fluorescence (“pXRF”) analysis to provide a quantitativedetermination of the samples’ mineral composition, calibratingagainst industry standards.
Many samples returned anomalous values of arsenic inexcess of 100 parts per million (“ppm”), the typical“background” arsenic reading for the local geology. Arsenic is acommon “pathfinder mineral” associated with gold occurrences inthe Golden Valley claim.
Pambili then interpolated these anomalous values usinginverse distance weighting (“IDW”) to define three anomalous zonesin the Golden Valley claim:
The Central Anomaly
This anomaly is associated with Golden Valley’shistorical mine workings and banded iron formation (“BIF”)outcrop. It has an approximate strike length of 600m with a peak valueof 408ppm arsenic.
Northern Anomaly
This anomaly has a strike of approximately 400m with apeak arsenic value of 343ppm and is also associated with GoldenValley’s BIF outcrop. The potential for mineralisation along thisanomaly is backed up by the artisanal mining of coarse gold downslope.
Eastern Anomaly
This is a 400m northwest - southeast trending anomalywith a peak arsenic value of 162ppm that appears to bestructure-related.
The three anomalies are displayed on Figure 1 andFigure 2 below. Both maps display a contoured arsenic background atGolden Valley, with lighter colour indicating an increase in theintensity of arsenic value.
Figure 1 – An approximate tracingof the extent of the three anomalies at Golden Valley
Figure 2 – Location of theanomalies in relation to historic workings at Golden Valley
Jon Harris, ChiefExecutive Officer of Pambili Natural Resources, commented:
“These geochemical soil samplingresults are another encouraging indicator of Golden Valley’s mineralpotential beyond the extent of historic mining. We look forward tocompleting follow-up exploration on all three anomalies.
The Northern Anomaly, in particular,adds to the inventory of target areas we are building. Although it hasbeen shedding coarse gold into the drainage at Golden Valley, noassociated mining appears to have taken place. This offers us a greatstarting point for follow-up investigation.
With our initial underground surveycomplete, our technical report underway, and underground drillingplanned, we hope to expand our understanding of the extent of goldmineralization at Golden Valley considerably over the comingmonths. ”
The Golden Valley Project
Pambili believes that Golden Valley Project, like manysimilar projects, has been underexplored and has the potential to hosta bulk mineable gold deposit. The Project has a history of high-gradegold production and includes a gold processing plant, a stamp mill,and two historic adits.
Pambili acquired the Golden Valley Project in November2023 (subject to approval by the TSXV) and has commenced explorationof the Project’s underground and near-surface potential. The Companyplans to recommence mining this year, and is preparing for acomprehensive phase of underground drilling.
Pambili’s independent geologist, Gayle Hanssen BSc.(Hons.) Geology, a qualified person as defined by National Instrument43-101, has reviewed and approved the technical information containedin this news release
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 activities in Zimbabwe. Theseforward-looking statements are subject to numerous risks anduncertainties, certain of which are beyond the control of theCorporation, including, but not limited to the impact of generaleconomic conditions, industry conditions, currency fluctuations, anddependence upon regulatory approvals. The Corporation does not assumeany obligation to update the forward-looking statements to reflectchanges in assumptions or circumstances other than as required byapplicable law.
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