Kavango Resources to fully acquire Nara Gold Project in Zimbabwe
Kavango Resources has exercised its option to acquire 100% ownership of the Nara gold project in Zimbabwe, further strengthening its position in southern Africa’s gold mining sector. The acquisition aligns with the company’s strategy to develop commercially scalable gold operations across the Filabusi Greenstone Belt.
To support the acquisition and ongoing operations, Purebond has committed to a $5 million equity investment in Kavango, subscribing to new ordinary shares at 1p per share. This investment is expected to form part of a broader fundraising effort linked to Kavango’s upcoming listing on the Victoria Falls Stock Exchange (VFEX).
Nara project
Acquired initially in June 2023, the Nara project includes 45 contiguous gold claims. Kavango plans to release the results of its technical and commercial evaluation of Nara before the end of July 2025, with early signs indicating potential for a bulk mineable gold deposit. The company has been granted full exploration access, and planned exploration activities include; surface mapping, geochemical and geophysical surveys, drill testing, and tailings viability assessment.
CEO Ben Turney emphasized the significance of the acquisition: “Once we have completed the Nara acquisition, Kavango will own 100pc of two significant gold mining projects in the Filabusi Greenstone Belt… This puts Kavango in a strong position to generate free cash flow over the long term.”
Kavango already owns the Hillside gold project, with the acquisition finalized in April 2024. The company announced in November 2024 the construction of a new processing plant at Hillside to increase gold production, specifically serving Prospect 4, a 44-claim area spanning 503 hectares. Notably, Prospect 4 is located within trucking distance of the Nara site, allowing for operational synergies.
Kavango is targeting rapid transition to production at its sites using modern mining and processing technologies, with an eye on both open-pit and underground gold opportunities.
