In a significant move for the Matabeleland South mining sector, Kavango Resources plc is moving to finalize its 100% acquisition of the Nara Gold Project, a move that promises to bring modern exploration techniques to a historically rich gold belt.
The company, which is listed on both the London Stock Exchange and the Victoria Falls Stock Exchange, recently announced the signing of a deed of variation (DoV) to address the final mechanics of the acquisition.
To ensure that the transition of ownership does not disrupt current output, the parties are discussing the purchase of the existing operating company, Romjack Mining (Pvt) Ltd.
Kavango has already transferred the balance of the acquisition consideration into an escrow account, awaiting the completion of final documentation.
Peter Wynter Bee, chairman and interim chief executive officer of Kavango, expressed high expectations for the venture.
“We are excited to be embarking on the Nara project,” he said in the company’s announcement.
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“The company is committed to building upon the success of the Nara Gold Project, for the benefit of its shareholders and the local community.”
The Nara project consists of 45 contiguous gold claims covering four historic mines that have a combined recorded production history of over 90 000 ounces.
Despite this legacy of high-grade yields, the area has never been subjected to systematic modern exploration, leaving significant potential for discovery.
Kavango’s strategy involves a dual approach: targeting primary hard-rock mineralisation while simultaneously pursuing gold recovery from surface tailings.
Current exploration efforts are concentrated on the Killarney Mine, where small-scale mining has historically been limited to the upper levels.
Kavango’s technical team believes that flooded deeper levels may have acted as a shield, preserving significant unmined gold mineralisation that was previously inaccessible.
Scientific data from recent drilling programmes appears to validate this theory.
Results from hole NAKLDD001 confirmed a gold-bearing system beneath the old workings, intersecting new mineralised hanging wall and footwall zones.
This is further supported by induced polarisation (IP) data, which identified a strong resistivity low coincident with the core mine workings, suggesting that mineralisation may continue along strike and at depth.
Beyond the geological potential, Kavango is looking to optimise its corporate footprint in Zimbabwe.
“Kavango is taking this opportunity to evaluate the co-location of its exploration team to maximise operational efficiency and further strengthen the development of our projects in Zimbabwe,” added Wynter Bee.
By integrating its exploration team directly at the site, the company aims to accelerate the development of Nara into a cornerstone asset for the region’s economy.
As the final legalities conclude, Filabusi stands on the verge of a modern mining revival that bridges the gap between its historic production and future potential.