Projects

The Nara Project ("NARA")

 

Project Name:
The Nara Project (“NARA”)
Ownership:

100% Kavango (subject to exercise of option)

Operatorship:
Kavango (subject to exercise of option)
Location:
Zimbabwe
Size:
415 hectares
Stage:
Production, exploration

 

Commodity:
Gold
Target:

Bulk mineable gold deposit

 

Prospecting Licenses:
45 contiguous gold claims of approx. 10 hectares each
 

 

Project Details

The Nara Gold Project covers four historic mines near the Zimbabwean city of Bulawayo with total recorded production of more than 90,000oz in the first half of the 20th Century.

Nara includes nearly 2,000m of project workings (artisanal and historical), which include wide areas with bulk mining potential. The Project also includes more than 4km of strike potential, along which no drilling or modern exploration has taken place.

Kavango’s magnetic surveying has defined a 200m-wide interpreted shear corridor along 5km within the Nara property. Shears potentially host large, bulk-mineable gold deposits, and this new zone coincides with Nara’s historic/current production

Ground Total Field Magnetic map with interpreted geology

Ground Total Field Magnetic map with interpreted geology

Kavango has established a potential exploration target of 527,000 to 2.6 million ounces of gold across the Nara project area*. A breakdown of this target can be found in the table below.

Ground Total Field Magnetic map with interpreted geology

Nara’s Upside target potential

*The potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

The Nara Project area also contains large tailings dumps. Kavango has completed a Resource Estimate for two of these, which concluded that they contain a combined:

  • 77,664 tonnes of material in the Measured Category at an average grade of 0.54 grams per tonne gold for a total of 1,346 ounces of gold contained
  • 221,934 tonnes of material at an average of 0.65 grams per tonne gold for a total of 4,637 ounces of gold contained
  • 12,178 tonnes of material in the Inferred Category at an average grade of 0.66 grams per tonne gold for a total of 257 ounces of gold contained
Ground Total Field Magnetic map with interpreted geology

Nara Tailings Mineral Resource statement, effective date 12 April 2024

Next Steps

Kavango’s first phase of drilling at Nara is underway. The results will inform the next steps of its exploration strategy.

The Company is assessing how best to commercialise the gold contained in the Nara tailings dump. It plans to use free cash flow generated by any tailings production to advance its wider exploration activities in Zimbabwe.

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