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Kavango Resources PLC on Friday reported a second high-grade gold intercept at the Bill’s Luck gold mine on the Hillside project in Zimbabwe. The Botswana and Zimbabwe-focused precious metals exploration company said hole BLDDUG006 intersected a gold-bearing structure at a depth below surface of 111.50 metres, with confirmed repeat assay grades of 13.60 grammes per tonne over 10.40 metres from 64.00 metres to 74.40 metres. This follows the first high-grade intercept discovered in hole BLDDUG004, which intersected 11.79 grammes per tonne over 4.36 metres from 47.36 metres depth. ‘This result confirms that the main Bill’s Luck ore shoot remains open at depth and appears to be increasing in grade. Our team is highly encouraged by this, having demonstrated such strong potential with relatively limited drilling. We will now move forward confidently into the next phase of surface exploration,’ said Chief Executive Officer Ben Turney. ‘The objective of the surface drilling will be to define a gold resource large enough to support mining and processing operations for a minimum of three years. We will seek to confirm the width of the main Bill’s Luck ore shoot and test the next inferred ore shoot at Roscor. If successful, this work will underpin the investment case for the 200 tonne per day pilot production plant. ‘In parallel, we will continue underground drilling at Bill’s Luck for near-term mine planning. Construction of our 50tpd test production plant is already underway, with commissioning expected later this year. If all goes to plan, our goal is to scale gold production capacity at Bill’s Luck to 250 [tonnes per day] in the first half of 2026.’ Shares in Kavango Resources were up 0.4% at 1.10 pence in London on Friday at midday. The stock remains down 18% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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