Kavango Drilling Validates Large High-Grade Gold System at Bill’s Luck Mine

Kavango Resources (LSE:KAV) has released encouraging results from a 7,714-metre diamond and reverse circulation drilling programme at the historic Bill’s Luck Gold Mine, part of its Hillside Project in Zimbabwe. The campaign has confirmed a mineralised gold system extending beyond 220 metres below surface, with multiple parallel reef structures identified in both the hanging wall and footwall alongside the currently exploited Main Reef.

Operational and financial highlights

Drilling from surface and underground has returned a series of high-grade gold intersections, including assays exceeding 100g/t over narrow intervals. These results are now being incorporated into a maiden Mineral Resource Estimate, which is under preparation and expected to support detailed mine planning and longer-term production evaluations. The findings reinforce Kavango’s strategy to lift gold output at Bill’s Luck while advancing other Hillside targets such as Nightshift and Steenbok, positioning the company as an emerging mechanised gold producer in Zimbabwe.

Despite early-stage revenue generation, the investment outlook remains constrained by weak financial fundamentals, including sizeable losses and ongoing cash burn, which heighten near-term funding and execution risks. Market technicals add further pressure, with the share price showing a sustained downtrend and negative momentum. Valuation support is limited by the loss-making profile and the absence of dividend yield.

More about Kavango Resources

Kavango Resources is a Southern Africa–focused metals exploration and gold production company listed in London and on the Victoria Falls Stock Exchange. The group is focused on rapidly advancing both open-pit and underground gold deposits in Zimbabwe using modern mechanised mining and processing methods. Its Zimbabwean portfolio is centred on the Hillside Gold Project, which includes Bill’s Luck, Nightshift—where a maiden resource has already been defined—and Steenbok, forming a pipeline of assets aimed at delivering scalable, near-term gold production.