Kavango Resources says Zimbabwe gold drilling exceeds expectations

(Alliance News) - Kavango Resources PLC on Monday said drilling at a gold mine in Zimbabwe exceeded expectations, underpinning its longer-term potential.

The London-based, South Africa-focused metals explorer and gold producer said its diamond resource drilling programme at Bill's Luck Gold Mine at the Hillside project, Zimbabwe comprised an initial wide-spaced diamond drill programme followed by infill diamond drilling and a separate reverse circulation.

Kavango Resources said the drill programme has intersected the currently mined main reef, as expected, but has also confirmed the presence of an additional reef structure adjacent to and parallel with the main reef that is also mineralised.

The drilling also tested and intersected further reefs in both the hanging wall and footwall, the firm said.

The results, together with the reverse circulation drill programme, will now be used to inform a maiden mineral resource estimate at Bill's Luck.

Interim Chief Executive Officer Peter Wynter Bee said: "The resource drilling programme at Bill's Luck has exceeded our expectations, demonstrating that the mineralised system extends to depths greater than 220 metres and exhibits continuity both along strike and at depth."

"We look forward to providing further updates on our plans to increase gold production here soon," he added.

Shares in Kavango Resources rose 15% to 0.75 pence each in London on Monday.

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2026 Alliance News Ltd. All Rights Reserved.

Kavango Resources