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CALGARY, Canada – TheNewswire – Sept. 28, 2022 — Pambili Natural Resources Corporation (“Pambili” or the “Corporation“) (TSXV:PNN) announces that it has received the first assays of samples taken during the recent reverse circulation (“RC”) drilling program at the Happy Valley Mine (“HVM”) in Zimbabwe.
An outline of the program was set out in the NI 43-101 Technical Report on the Happy Valley Mine, dated March 30, 2022 (“Report”). The Report, which is available on SEDAR and the Corporation’s website, was prepared by independent geologist Gayle Hanssen BSc. Geology (Hons), a qualified person as defined by Canadian National Instrument 43-101, who has reviewed and approved the technical information contained in this news release.
Some 1,100m of RC drilling was completed at HVM by KW Blasting Ltd., a subsidiary of Drilling Resources (Zimbabwe) Limited, with chip samples from each metre being assayed by Antech Laboratories (“Antech”), a SADCAS Accredited Testing Laboratory in Kwekwe.
To conform with recognized protocols, 10% of all samples submitted to Antech were for QA/QC purposes. Certified standards (1.61g/t Au and 4.8g/t Au) were procured from African Mineral Standards in South Africa, and all samples collected at the rig were duplicated. Blank samples (material known not to contain gold) were also submitted to Antech, and every 10 samples submitted included either a certified standard, a duplicate or a blank.
The most westerly drill line provided two ore-grade intercepts over the main reef:
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Hole 1: 1.25g/t over 8m; or if using a cut-off of 1g/t Au, 2.98g/t over 3m
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Hole 2: 3.98g/t over a drilled width of 7m, using a cut-off of 1g/t Au.
There are at least two lower grade parallels intercepted to the south.
The assay results for the lines further east are incomplete at this stage.
These results are consistent with geophysical anomalies and characteristics of economic occurrences of gold deposits. Interpretation and modelling of the ore body will be completed once the remaining assay results and geology are analyzed.
“Although a full review and interpretation of the results is still underway, these initial results certainly point to economic grade mineralization on section 674770,” commented Ms. Hanssen.
“These initial results confirm what local miners have known for years – ‘there’s gold in them thar hills!’” said Pambili Chief Executive Officer (CEO) Jon Harris. “Joking aside, the results of this drilling program will allow Ms. Hanssen to update our NI 43-101 technical report with an initial mineral resource estimate for the HVM. This update will be published as soon as possible after the complete set of results is available.”
About Pambili Natural Resources Corporation: Pambili Natural Resources Corporation is a natural resources exploration and development company (www.pambilinrc.com) currently active in Zimbabwe and in the province of Alberta.
For further information, contact:
Pambili Natural Resources Corporation
T: 403 277 4421
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information Forward-looking statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often, but not always, identified by words such as “believes”, “may”, “likely”, “plans”, or similar words. Forward- looking statements included in this news release include statements with respect to work to be done on the Happy Valley mine in Zimbabwe. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including, but not limited to the impact of general economic conditions, industry conditions, currency fluctuations, and dependence upon regulatory approvals. The Corporation does not assume any obligation to update the forward-looking statements to reflect changes in assumptions or circumstances other than as required by applicable law.
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