Kavango Resources plc’s first JORC-compliant Mineral Resource Estimate for the Bill’s Luck Gold Mine is strengthening the investment case for its Hillside Gold Project, positioning the asset for funding discussions ahead of planned production in early 2026.
Announcing the maiden estimate, the company confirmed a 33,900-ounce gold resource at an average grade of 2.68 grammes per tonne, classified across measured, indicated and inferred categories.
The breakdown includes 2,600 ounces at 3.3 grammes per tonne (measured), 13,400 ounces at 2.7 grammes per tonne (indicated) and 18,000 ounces at 2.6 grammes per tonne bringing the total JORC-compliant resource within the Hillside project area to 52,900 ounces.
Kavango Resources said the estimate is reported at a 0.5 gramme per tonne cut-off grade, based on a US$3,000 per ounce gold price assumption, reflecting current strength in global bullion markets.
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“This maiden JORC Mineral Resource Estimate marks a significant technical and commercial milestone for Bill’s Luck and the wider Hillside Project,” the company said.
The company said gold mineralisation at Bill’s Luck is structurally and hydrothermally controlled, concentrated along shear zones and characterised by quartz-sericite-chlorite alteration with disseminated sulphides and syntectonic quartz-sulphide veins.
“The deposit remains open at depth and along strike,” Kavango Resources said, indicating scope for resource growth through additional drilling.
Development planning is centred on underground mining methods aimed at minimising dilution and optimising grade control.
.Processing assumptions are based on an estimated US$25 per tonne, with a 50-tonne-per-day carbon-in-pulp plant scheduled for commissioning in the first quarter of 2026 to support early-stage production and cash flow generation.
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