Zimbabwe’s Ministry of Mines has approved an application submitted by Pambili Natural Resources to undertake a significant expansion of its Golden Valley project in the country.
The approval is granted for the conversion of the 50ha milling site surrounding the Zimbabwean gold mine to a series of five mining claims, each with an area of 10ha.
According to Pambili Natural Resources, the conversion will allow the natural resources exploration and development company to continue exploring the Golden Valley project over an increased and highly prospective area.
Pambili Natural Resources CEO Jon Harris said: “Confirmation of the conversion of our 50ha milling site to mining claims is fantastic news.
“The development means our planned resource drilling program from surface can now cover a much larger area than the initial 10ha mining claim.
“This supports for our ongoing goal of generating shareholder value by sourcing ore for on-site processing and production at Golden Valley significantly.”
Located on the Bulawayo greenstone belt in Matabeleland Province, the Golden Valley project is a typical Orogenic-style gold deposit. It features a gold processing facility, a stamp mill, and two historic adits.
The Zimbabwean gold mine is said to have a past of high-grade underground mining with historic gold production.
Currently, the Golden Valley project’s area includes 60ha of highly prospective ground.
Pambili Natural Resources said that the gold project is underexplored. It has the potential to host shallow ore sources of ore for nearer-term gold production, as well as larger and underground discoveries.
The company signed a share purchase agreement in November last year to acquire the Golden Valley project. The closing of the deal is awaiting approval from the TSX Venture Exchange in Canada, where Pambili Natural Resources is listed.
