Kavango Resources inks deal for Nara gold project in Zimbabwe

Kavango Resources, a UK-based mining company, has secured a two-year option deal to acquire the Nara gold exploration project in Matabeleland, Zimbabwe.

The project consists of 45 contiguous gold claims, each claimed to be at least ten hectares in size. Kavango believes that the project has the potential to host a significant gold deposit that can be mined in bulk. The Nara project area has a history of high-grade underground mining as well as surface mining on a small scale and custom milling over a period of 30 years. It has also generated a substantial amount of tailings, estimated to be between 150,000 and 250,000 tonnes, which presents an additional opportunity for near-term revenue generation.

Nara project

The historic production at the Nara project averaged 92,000 ounces of gold at a grade of 9.76 grams per tonne. Kavango will have complete access to the project during the two-year option period to conduct field due diligence and implement a comprehensive exploration program. This program will involve activities such as surface mapping and geochemistry, geophysics, surface and underground drilling, as well as assessing the commercial potential of processing the tailings.

Following the completion of the exploration program, Kavango will evaluate the results and make a decision on whether to exercise the option to acquire the Nara project. The CEO of Kavango Resources, Ben Turney, expressed enthusiasm about the project and highlighted the potential of Zimbabwe’s greenstone belts, which are believed to contain rocks favorable for bulk-mineable gold deposits. He also noted that while Zimbabwe has a rich mining tradition, exploration and investment in the country have been limited in recent decades, and the country has not experienced a gold mining boom like Australia did in the 1980s.