Location Maps
SHANGWE GOLD PROJECT, CHEGUTU, ZIMBABWE
The Shangwe Gold Project is located within the Shangwe Ranch property, approximately 28 kilometers northwest of Chegutu town in Mashonaland West Province. The property comprises 91 registered gold claims, covering an area of 3,500 hectares.
Historically, the area has been notable for its gold production, with a recorded output of 6.65 tonnes. Recent exploration efforts have confirmed the presence of significant gold deposits, supported by geological mapping and sampling, geophysical surveys, and bulk milling and leaching test work.
The company has identified four distinct exploration targets, ranked according to their potential mineral resource size. Since exploration activities began in 2022, the project has progressed through several key phases.
Geological mapping has been completed over an area of 500 hectares, while geophysical surveys—including ground magnetics and induced polarization (IP)—have covered 150 hectares. In addition, underground channel sampling has been carried out to validate resource potential, and limited diamond drilling has been conducted at two of the mine sites.
A high-level mineral target generation initiative has been set in motion to guide upcoming exploration programs.
The 2025–2026 exploration campaign will include follow-up geological mapping, additional geophysical surveys, trenching, and a focused drilling program. If successful, the drilling phase is expected to significantly increase the project's mineral resource base—potentially tripling it—by targeting an in-situ gold value of approximately 50 to 60 tonnes.
George and No. 3 mines have been designated as priority targets for immediate underground development. Rehabilitation of the existing old shafts is currently underway, with plans to mechanize underground ore transportation and hoisting systems to improve efficiency. Capital expenditure is focused on underground resource development, aimed at generating the ore reserves required for sustained high-volume production.
The development plan includes the construction of lateral drives on the 1st, 2nd, and 3rd levels, along with the sinking of two inclined shafts to support access and ore movement across multiple levels.