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ZIM: New gold “reefs” discovered at Bill’s Luck
ZIM: New gold “reefs” discovered at Bill’s Luck.
About this update from Kavango Resources Plc
[{"type":"text","content":"\n\nPRESS RELEASE\n24 June 2025\nKAVANGO RESOURCES PLC\n(\"Kavango\" or \"the Company\")\nZIM: New gold \"reefs\" discovered at Bill's Luck\nKavango Resources plc (LSE:KAV), the Southern Africa focused metals exploration and gold production company, is pleased to announce the discovery of new gold bearing structures or \"reefs\" at the Bill's Luck Gold Mine (\"Bill's Luck\" or the \"Mine\") on the Hillside Project (\"Hillside\"), Zimbabwe.\nKavango has been mining gold at Bill's Luck since August 2024. The Company has drilled over 3,800m of combined diamond and reverse circulation (\"RC\") drilling to test targets for near-term development. The new gold bearing structures are both along strike and downdip from current mining operations, suggesting a much larger gold system than originally anticipated.\nResults are highly encouraging and significantly raise the Company's expectations for the commercial potential at Bill's Luck. To this end, Kavango is considering options to upgrade mining and production capacity at the Mine over the remainder of 2025. \nHighlights\n· Drill results far surpassed expectations, encountering multiple new gold bearing structures:\n· Drilling intercepted multiple altered shear structures hosting gold mineralised quartz veins.\n· Four possible \"ore shoots\" have been identified over 245m along the Bills Luck \"Main Reef\" which remains open along strike.\n· Two new parallel structures identified 100m northwest of the \"Main Reef\".\n· Discoveries includes new and un-exploited parallel structures hosting gold mineralised quartz reefs, one located approximately 10m into the hanging-wall, and 2 further structures in the foot-wall from current mining operations.\n· Surface diamond drilling tested interpreted geometry, grade and downdip continuity of inferred \"ore shoots\" at Bill's Luck and Roscor shafts.\n· Gold mineralisation intersected at 160m vertical depth at Bill's Luck and 180m vertical depth at Roscor.\n· Work is ongoing to bring Roscor shaft into production.\n· Diamond drill highlights include:\n· BLDD007 intersected a parallel structure hosting mineralised quartz veins in the hanging-wall, grading 1.46g/t over 1m...