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Kavango Resources (LSE:KAV) has received authorisation from the Ministry of Mines and Mining Development to export up to 2,500kg of drill core samples from its Hillside Gold Project in Zimbabwe.

Exploration progress

The export is expected to be a combination of previously drilled holes, and any new ones at Hillside.

Kavango Resources‘ Chief Executive Officer, Ben Turney, sees this as a pivotal step towards conducting a more detailed analysis of elements, enabling the company to leverage the benefits of modern mining technology.

“This is an encouraging development for our exploration programmes in Zimbabwe,” he said.

“It is imperative we use the full range of modern analytical tools and techniques to conduct high-quality exploration.

“Our objective is to make large-scale gold discoveries that can be brought into production and contribute to the 2030 Vision of turning Zimbabwe into an upper middle-income economy.”

Once the samples have been exported and critically analysed, Kavango anticipates gaining a deeper insight into the region’s prospectivity, bolstering the company’s ability to characterise mineralisation and alteration to target further priority areas for exploration.

CEO commentary

Mr. Turney added that the Ministry of Mines and Mining Development has consistently backed Kavango throughout its initiatives in Zimbabwe.

“I would like to thank the Ministry of Mines and Mining Development for the support they have given us in working towards this goal,” he said.

“The growing strength of our relationship will enable us to make significant investments of funds and skills into Zimbabwe’s emergent gold exploration sector.

“We look forward to working closely with the Ministry over the coming years, to develop international-standard working practices in minerals exploration in Zimbabwe that will attract other companies into this space.”

KAV’s London Stock Exchange-listed share price is up 5.88% today and is currently trading at 0.90 pence (3:45 pm UTC+ 8 hours).