Member Info for JP2000

More rubbish from Zim government, like to see them enforce it.

This was a stockbox interview from April about Hillside/Prospect 4 so well worth listening again.

https://www.youtube.com/watch?v=mzpWGAbT_FU&t=76s

I didn't realise Prospects 1 & 4 are 10km apart but that makes sense as P4 contains old mine IXL. The other thing is they don't want to publish too much data because they're looking at neighbouring claims.

Looking forward to the Prospect 1 assay result delayed because the core was sent toSouth Africa, expected anytime next 2 weeks. Whilst drill was proof of concept, result is important as Prospect1 is the main target at Hillside.

Acknowledging XRF is not anywhere near as accurate as assay testing , the surprising findings so far is the abundance of silver and other minerals (gold, nickel, chrome, rubidium, tungsten, zinc, copper, lead) whereas looking at the other KCB discoveries it tends to be copper with 20% credit for silver. Karakubis is an entirely different system and so far silver grades are very good with a kaleidoscope of other minerals.

KAV announced KCBDD005 has commenced, the 5th drill.

KCBDD001 target 1, technical issues so no charge, some core recovered

KCBDD002 target 1

KCBDD003 target 2

Target 1 & 2 were scoping drills, identified lower D’Kar Formation & found sulphides including copper plus silver. Non commercial grades but a great start.

KCBDD004 target 3, this was scheduled as per the original drill plan & we know KAV changed the plan after analysing cores/geophysics for targets 1 & 2. No specific announcements or hints how this went. There are some photos of the yard, the XRF (either target 2 or 3) and some sulphide core, silver was the most prominent mineral.

KCBDD005 the latest drill is as per KAV's revamped drill plan is target 4 so you'd expect this to be 'vectoring' into higher copper grades. Not heard anything recently about a second rig, we know there are c90 targets with 10 high priority targets in current campaign, if KAV find anything near commercial 1% Cu 12g/t Ag c10m of mineralisation then second rig will be giveaway. Might expect news last week in August.

MH, you mean underground mining. Bulk is 1-2g/t and typically quite shallow, what goes against bulk is they already mined near surface.

There was an existing mine & produced 90,000oz @ 10g/t so zero marks to KAV for claiming to have discovered a mineralising system. The most important result averages 2.5m @ c3.5g/t 235-250m, borderline if they can use existing mineshafts, not really economic if new shafts required. KAV estimated 339-1,883 koz for Killarney main which seams incredibly optimistic. Share price hasn't reacted either way so market is neutral on the result but KAV have a lot of work ahead to firm up the resource.

Thought Alavib made some good points, Haneti, Tati, Molopo going precisely nowhere.

Return the GMET holding to POW shareholders & let Sean concentrate on existing portfolio.

Legal: I do respect your contributions…..but these results are poor. Killarney drill hole has thin zones 200-250m with vey little above. It’s way too much cover to remove and too low grades to warrant underground mining.

The most important drill was NAKLDD001 as this had the bulk of the resource estimate. The results are frankly disappointing suggesting low end estimate. Whilst Nara tailing could produce $3m of free cash flow, the option price $4.2-5.2m now seems challenging.

Correction it’s KCB

Third photo has lots of sulphide but they’re giving zero else away. My guess is it’s from Prospect 3 which is drilling at the moment.

Initially Ben talked about bulk mining c1g/t but because of the veining which the artisans target, they are finding zones up to 30g/t, anything in region +5g/t is good and depending on volume can warrant a targeted mine approach rather than bulk mining. The artisans and early miners 1900-1950's got a lot of the easy shallow gold but missed many areas. Zim has literally thousands of old mines because the gold quickly runs out whereas KAV have technology to assess deposits before any spades in the ground. More specifically KAV are targeting a 200m x 5000m zone, some has already been mined to c100m depth with the majority not touched. These new targets look to be additional to the main zone although some are very close to the boundary claim. KAV are talking about a second rig for Nara so it looks like they'll drill another 2000m into Nara this year. The option price is effectively $5.22m with the tailing expected to generate $3-4m free cashflow so the overall net cost is c$2m but that still means KAV need to hand over $5.2m next summer. The resource estimates as of last Dec were 500-2,600koz although that was the main strike. KAV drilled 6 holes in Q2 quite widely dispersed with results expected any day. Assuming KAV aligns the cores/assays to the geophysics as per Hillside then KAV will have a very good idea where the gold is & quantities.

It will be if KCB comes off & should hear in the next 6 weeks. They've completed 2 drills which have both found copper albeit non-commercial. Currently drilling target 3.

Nara?

Main benefit is retention of gold sales in USD rather than % in local currency.

Says KAV intends gold production over 3000oz/yr within next 2 years.

Their licence is smaller than KAV but the trend has been drilled next door with good results so in theory they should find commercial copper. The London market needs discoveries.

What basis is there for saying ARCM is about to announce a key discovery? The geophysics looks interesting but it’s a two diamond drill campaign with added RC drills. Core photos look non descript & no news if the found lower D’Kar formation. Assays probably won’t be available until Oct.

Takeaways:

Nara assays any day now.

DC/BT in London for investor roadshow predominately on Karakubis

Does the next drill target a discovery?