Abbie WestfallBusiness Writer
PAMBILI Natural Resources Corporation says the Golden Valley Mine project stands to become an increasingly valuable asset for its mining portfolio in Zimbabwe.
The company recently achieved its first gold production from the Golden Valley Project, processing approximately 630 tonnes of material from underground development and historic sands on the surface, through the Golden Valley plant resulting in the recovery of 235g (7,5oz) of gold at a recovery rate of 0,52g/t.
Golden Valley is Pambili’s flagship project, located on the Bulawayo greenstone belt in Zimbabwe’s Matabeleland Province.
The project has a history of high-grade gold production and includes a gold processing plant, a stamp mill and two historic adits.
This comes as the miner announced in early August that it produced its first gold from its Golden Valley Mine in the second quarter of 2024. Pambili’s exploration data particularly the geophysics studies indicate the potential for a commercially viable reef gold deposit at the Golden Valley Mine.
While formal mining at Golden Valley has not yet resumed, Pambili has completed underground development in preparation for the upcoming drilling programme scheduled to start this August.
The company plans to restart the toll-milling operation and conduct further cleanup of historic sands on the site, expecting additional gold yield before underground mining begins.
“The decision to process material from the off-reef underground development was based on the visible mineralisation observed within that material and the experience of the local team. The fact we were able to produce gold from this off-reef material and the reworking of old sands supports our belief in the upside potential of Golden Valley.
“The Company will endeavour to establish the true extent of this potential through our planned underground and surface drilling programmes, both of which will commence this month.
“As we continue to learn more about its large-scale potential, Golden Valley stands to become an increasingly valuable asset for Pambili,” said Pambili Natural Resources chief executive officer Jon Harris.
Pambili believes that the Golden Valley project, with its history of high-grade underground mining and historic gold production, has been underexplored in the modern era and has the potential to host a bulk mineable gold deposit.
Considering its geological setting, historic high-grade production, sustained mining activity and underexplored underground potential, Pambili views the project as an opportunity to establish a modern, large-scale commercial gold operation.
Golden Valley was previously active in the late 1930s and early 1940s, and Zimbabwe Geological Survey (published in 1995), shows that the mine milled 7 827 tonnes of ore for 60,0618kg of gold and treated 8 354 tonnes of sands and 785 tonnes of slimes for 17.356 kg of gold.
Altogether, 77,4178 kg of gold were produced, at a recovery rate of 9,89 g/t.
The mining industry is a significant contributor to Zimbabwe’s economy, accounting for over 75 percent of the national export earnings.
Gold, in particular, is the country’s single largest export, expected to contribute US$4 billion annually, up from about US$2,7 billion in 2018.In 2022, the country produced a record 35,3 tonnes of gold, while output in the following year decreased to 30,1 tonnes due to operational challenges, power constraints and other obstacles faced by small-scale miners.
The Government has committed to addressing the challenges facing the mining sector and has set a gold production target of 40 tonnes for this year.
Bongani Ndlovu