Kavango Propelling Zimbabwe towards Australian-Styled Open Pit Gold Mining Success
London Stock Exchange-listed mining and exploration junior, Kavango Resources, is spearheading advancements at its Hillside gold project in Matabeleland, marking significant strides toward establishing Western Australia-style open pit gold mines in Zimbabwe.
by Rudairo Mapuranga
The transition to open pit mining carries promising implications for Zimbabwe’s gold industry, mirroring the success seen in Australia’s gold production.
According to Kavango CEO Ben Turney, the recent drill assays and IP survey results from the Hillside project are advancing Kavango towards its objective of developing Western Australia-style open pit gold mines in Zimbabwe.
Turney said the exploration and drilling program initiated by Kavango at its Hillside project has yielded remarkable results, surpassing initial expectations. Recent drill assays from Hillside Prospects 2 and 4 unveiled substantial gold findings at shallow depths, underscoring the project’s open pit mining potential. Induced Polarization (IP) surveying further revealed promising shear zones, indicative of potential large mineralized ore bodies suitable for open pit mining.
CEO Ben Turney also emphasizes the alignment of Zimbabwe’s geology with Western Australia’s, highlighting the vast economic opportunities awaiting exploration and development.
“Open pit mining has become the dominant style of mining in Western Australia and has been the primary driver behind Australia’s emergence as the world’s leading gold producer in recent decades.
“Zimbabwe’s geology mirrors that of Western Australia, and the country has a rich history of high-grade gold mining across its greenstone belts. However, Zimbabwe’s potential to host a multitude of large-scale, bulk mineable gold deposits remains largely undeveloped. This presents the nation with immense economic opportunity.
“Kavango has identified a strong pipeline of claim packages covering historic high-grade gold mines. We are now applying modern exploration and drilling techniques across three of these to assess their open pit potential and develop bulk mining operations,” he said.
According to the CEO, as Kavango continues to execute its exploration plans with precision and diligence, the company remains poised to unlock significant value and contribute to Zimbabwe’s ambition of becoming an upper-middle-income economy by 2030.
“In doing so, our objective is to contribute to the 2030 Vision of turning Zimbabwe into an upper-middle-income economy,” Ben Turney said.
Kavango has been in the market to raise about £3.08 million (US$3.86 million) by issuing 257.11 million new ordinary shares at a price per share of 1.2 pence through an underwritten accelerated book build. The capital raise is meant to fund its Zimbabwe and Botswana projects.
Turney said Kavango’s next steps at Hillside will be to test the gold-bearing potential of the shears it has interpreted at Prospects 2 and 3 with a series of drill holes. This strategic move aims to validate the potential for a bulk mineable gold deposit across the entire shear zone at both prospects. The Company eagerly anticipates assay results from Hillside Prospects 1 and 4, which will provide further insights into the project’s viability.
Meanwhile, drilling is also underway at its Nara project to explore a 200m wide by 5km long strike corridor within the property, interpreted as a potential shear zone. These proactive measures underscore Kavango’s commitment to thorough exploration and the identification of promising mineralization zones.
The company has rapidly begun to make strong progress in its goal of developing open pit mines in Zimbabwe. The most advanced endeavours are evident at Hillside prospects 2 and 4, where promising results have fueled optimism for future development. However, the remaining prospects, including Nara and Leopard, also hold significant potential, contributing to a diversified portfolio of opportunities for Kavango.