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13/06/2024
Mining News

Kavango Resources discloses maiden resource assessment for major tailings dumps at Nara Gold project in Zimbabwe

Kavango Resources, a metals exploration company focusing on Southern Africa, has disclosed the inaugural resource estimate for the two largest tailings dumps at Zimbabwe’s Nara gold project.

The estimate reveals a mineral resource of 293,000 tonnes with an average gold content of 0.62 g/t, equivalent to 5,860 oz of gold. Additionally, an inferred resource of 11,900 tonnes with a gold content of 0.66 g/t, totaling 253 oz of gold, has been identified.

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Kavango sees substantial potential in these tailings dumps for near-term gold production, providing early and non-dilutive free cash flow. The company is now exploring options for the commercial exploitation of gold from the Nara tailings dumps.

Kavango plans to utilize generated free cash flow for the development of the Nara project and broader exploration initiatives across Zimbabwe’s promising greenstone belts. The company holds an exclusive two-year option to purchase Nara, covering historic mines with a production record of over 90,000 oz in the early 1900s, including tungsten and silver credits.

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