Golden Valley Project

Golden Valley Project (Matabeleland Province, Zimbabwe)

***Aerial view of the Golden Valley mine site in Zimbabwe’s Matabeleland province.***

On Nov. 23, 2023, Pambili entered into a share purchase agreement to acquire the Golden Valley project, a producing gold mine in Zimbabwe’s Matabeleland province.

The Golden Valley project has a history of high-grade underground mining with historic gold production. Pambili believes that the Project has been underexplored in the modern era and has the potential to host a bulk mineable gold deposit.

The Golden Valley Project is a typical Orogenic-style gold deposit located in the Bulawayo Greenstone Belt. The Project is situated in the same geological setting as the Happy Valley mine and the How Mine, Metallon Corporation’s flagship operation.

One of the ring back ladders we’re building at Golden Valley in Zimbabwe—a key component of the equipment we’re assembling across the project’s two historic shafts so we can safely investigate prospective gold exploration targets.

Given 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.

“We established proof of concept for our strategy in Zimbabwe at the Happy Valley project earlier this year,” noted Pambili CEO Jon Harris.

“Now, at Golden Valley, we have an opportunity to take our next step towards building and developing a portfolio of cash-generating gold mines in Zimbabwe.”

On Dec. 15, 2023, Pambili announced its interpretation of the results of a drone survey completed over the Golden Valley Project—indicating the potential for an additional structure that has not previously been exploited for gold, and an extension to the known project strike length—both of which add to Golden Valley’s gold exploration potential.

Said CEO Jon Harris: “Our interpretation of the results further builds on our strategic belief that the full gold potential of Zimbabwe’s known gold deposits has never been fully realized owing to a lack of modern-day exploration techniques.”

Underground mine investigations

We’ve been working hard in January 2024 to prepare for an underground survey of Golden Valley to investigate the mine’s gold bulk mining potential. These preparations include the creation of an extended, covered portal of the mine’s East Adit, and installation of access ladders.

Explorations to date tell us the mine’s underground surface area is comparable to a soccer field, and the height of its workings is vast. The ore body’s scale suggests sulphides could extend for >1km, but they’ve never been tested. That could be a lot of ore, which is why we’re testing its gold content.