Africazine:
Kavango Resources has unveiled a significant milestone with its first Mineral Resource Estimate for the Bill’s Luck Gold Mine in Zimbabwe.
The estimate reveals a total of 33,900 ounces of gold at an average grade of 2.68 grams per tonne. This resource is categorized into Measured, Indicated, and Inferred, with respective amounts of 2,600 oz, 13,400 oz, and 18,000 oz.
Kavango Resources Reports Maiden Gold Estimate
The Mineral Resource Estimate (MRE) for Bill’s Luck Gold Mine is JORC-compliant and utilizes a cut-off grade of 0.5 g/t. This estimate is based on economic extraction assumptions at a gold price of ,000 per ounce. The announcement marks a pivotal moment for Kavango, enhancing its gold resource within the Hillside Gold Project to a total of 52,900 ounces.
The Hillside Gold Project encompasses four key prospects: Bill’s Luck, Britain, Nightshift, and Steenbok, covering 44 gold claims over 503 hectares. The addition of Bill’s Luck’s estimate is a strategic boost for the project.
Context of the Bill’s Luck Gold Mine Development
Kavango is in the process of re-developing and re-equipping the Bill’s Luck site. This initiative includes the establishment of a new 50-tonne-per-day carbon-in-pulp plant, which is expected to be commissioned soon. Interim CEO Peter Wynter Bee emphasized the importance of the MRE for mine planning and optimizing gold extraction.
The potential of Bill’s Luck as a long-term asset within the Hillside Gold Project is significant, especially following a century of intermittent mining activities. This modernized approach aims to leverage favorable global gold prices.
Next Steps for Kavango Resources
- Commissioning of the new carbon-in-pulp plant at Bill’s Luck.
- Continued development and optimization of gold extraction processes.
Kavango Resources is positioning itself for a promising future in gold mining at Bill’s Luck in Zimbabwe.
