PNN:CC - Strike Length Extension Potential Unexploited Structure: Drone Survey Bolsters Golden Valley's Gold Exploration Promise
(TheNewswire)
Calgary, Canada - TheNewswire - Dec. 15, 2023 - Pambili Natural Resources Corporation (“ Pambili ” or the“ Company ”) (TSX-V:PNN) is pleased to announce itsinterpretation of the results of a drone survey completed over itsrecently acquired Golden Valley Project in Zimbabwe’s Matabelelandprovince. This acquisition, previously announced on 23 November 2023,is still subject to approval from the TSX-V.
Pambili contracted Precision Drone Services to fly thesurvey at a 50-meter line spacing, collecting geophysical magneticdata. A contract consultant geophysicist then used the processed datato compile a structural interpretation for the Project highlightingseveral potential West-North-West-trending trends parallel tohistorical workings.
These trends traverse the tenement along more than onekilometer, suggesting a potentially significant extension to GoldenValley’s known strike length.
Pambili also collected detailed orthorectifiedphotography and a Digital Terrain Model (“DTM”) from which 50cmheight-spaced contours have been derived. Mapped artisanal eluvial andalluvial workings plotted on the DTM indicate gold is being shed fromnew potential target areas other than the known historical mineworkings.
Figure 1 – Historical mine workingsoverlaid on Pambili’s structural interpretation at GoldenValley
The potential for an additional structure that has notpreviously been exploited for gold and an extension to the knownproject strike length add to Golden Valley’s gold explorationpotential. Pambili will investigate the new target areas as part ofits ongoing gold exploration efforts at the Property.
Figure 2 – Drone equipment used byPrecision Drone Services to complete its survey at GoldenValley
Jon Harris, ChiefExecutive Officer of Pambili Natural Resources, commented:
“We were keen to begin work on theground as soon as we could at Golden Valley, and the drone surveywe’ve announced today was one of the key initial work streams wecompleted while we were completing our acquisition of theProject.
Our interpretation of the resultsfurther builds on our strategic belief that the full gold potential ofZimbabwe’s known gold deposits has never been fully realized owingto a lack of modern-day exploration techniques.
We look forward to following up onour new target areas we’ve interpreted at Golden Valley as part ofour planned exploration efforts over the coming months.”
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-gradeunderground mining with recorded historic gold production and includesa gold processing plant, a stamp mill, and two historic adits.
Pambili acquired the Golden Valley Project in November2023 and has commenced exploration of the Project’s underground andnear-surface potential. The Company plans to recommence mining nextyear, and is preparing for a comprehensive phase of undergrounddrilling.
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 Canadian 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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