Proactiveinvestors Australia Vango Mining Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Vango Mining Ltd RSS feed en Wed, 17 Jul 2019 18:41:28 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Vango Mining to talk emerging high-grade gold project at Proactive’s CEO Sessions ]]> https://www.proactiveinvestors.com.au/companies/news/223021/vango-mining-to-talk-emerging-high-grade-gold-project-at-proactives-ceo-sessions-223021.html Vango Mining Ltd (ASX:VAN) is exploring and developing its flagship 100%‐owned Marymia Gold Project located 300 kilometres northeast of Meekatharra in the mid‐west region of Western Australia.

The 360+ square kilometre project’s most advanced prospect is Trident which hosts a high-grade 410,000-ounce gold deposit grading 8.0 g/t.

The project also has a number of other prospects it is exploring including Marwest, Mareast, K2, K1, Triple P and Cinnamon.

Vango’s objective is to develop the Marymia Project and grow its resource base to become a significant, long term, stand-alone gold producer.

The project is notably along strike from the Plutonic Gold Mine, which has produced over 5.5 million ounces of gold.

READ: Vango Mining defines high-grade gold resource at Trident deposit in WA

In April 2019, Vango defined a new high-grade JORC resource for the Trident gold deposit measuring 1.6 million tonnes at 8.0 g/t gold for 410,000 ounces.

Vango’s ongoing exploration programs are focused on delivering a major upgrade to the recently released high‐grade gold resource at its core Trident gold deposit.

Unlocking the untapped potential of the Trident-Marwest-Mareast corridor

The Trident deposit is part of a 5 kilometre corridor, linking to the Marwest and Mareast gold prospects, which are both former open pit mines.

Drilling in June 2019 confirmed high-grade gold at Marwest with 9 metres at 12.7 g/t gold from 54 metres being intersected.

The corridor is open at depth and has the potential become a significant, high-grade gold mining centre.

Vango has a number of upcoming milestones and potential catalysts that will be outlined at the upcoming Proactive CEO Sessions events.

Register for the CEO Sessions today

Sydney details, Monday, July 15, 2019

Melbourne details, Tuesday, July 16, 2019

 

The event is sponsored by RiverFort Global Capital, a provider of growth funding solutions to publicly listed and private companies across a range of sectors.

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Fri, 28 Jun 2019 17:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/223021/vango-mining-to-talk-emerging-high-grade-gold-project-at-proactives-ceo-sessions-223021.html
<![CDATA[News - Vango Mining defines high-grade gold resource at Trident deposit in WA ]]> https://www.proactiveinvestors.com.au/companies/news/218813/vango-mining-defines-high-grade-gold-resource-at-trident-deposit-in-wa-218813.html Vango Mining Ltd (ASX:VAN) has defined a new high-grade mineral resource for the Trident gold deposit within its wholly-owned Marymia Gold Project in Western Australia.

The JORC 2012 resource amounts to 1.6 million tonnes at 8 g/t gold for 410,000 ounces, with an indicated category comprising 945,000 tonnes at 9.4 g/t and an inferred comprising 645,000 tonnes at 6 g/t containing 285,000 ounces and 125,000 ounces of gold, respectively.

READ: Vango Mining strikes bonanza gold grades in Trident drilling at Marymia

Resource estimation was undertaken after the completion of 60 predominantly diamond drill holes which extended and upgraded the high-grade indicated resources at the core of the Trident deposit.

This high-grade core will underpin underground mine planning for the proposed first stage of operation at Marymia, with Vango fast-tracking a submission to the WA Department of Mines to facilitate the start of mining.

READ: Vango Mining secures $10 million funding to advance Marymia Gold Project

Trident has only been drill tested over a 1-kilometre strike length, representing just 20% of the currently identified 5 kilometres of strike along the Trident-Marwest-Mareast gold corridor.

This corridor is part of more than 40 kilometres of strike with mineralised ultramafic and mafic rocks, the equivalent of the geology that hosts the Plutonic Gold Mine immediately the south of Marymia, which has produced more than 5 million ounces of gold.

Ongoing drilling is currently testing targets along the gold corridor, with the aim of adding high-grade resources to the company’s gold portfolio.

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Wed, 17 Apr 2019 23:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218813/vango-mining-defines-high-grade-gold-resource-at-trident-deposit-in-wa-218813.html
<![CDATA[News - Vango Mining strikes bonanza gold grades in Trident drilling at Marymia ]]> https://www.proactiveinvestors.com.au/companies/news/218111/vango-mining-strikes-bonanza-gold-grades-in-trident-drilling-at-marymia-218111.html Vango Mining Ltd (ASX:VAN) jumped 25% today after revealing bonanza grade gold intersections from geotechnical and resource confirmation drilling at the Trident deposit within the Marymia project in WA.

Shares reached an intra-day high of 17.5 cents on the strength of the intersections of up to 11 metres from 213 metres at 36.2 g/t, which included 2 metres at 184 g/t.

The company will use the results in a high-grade resource estimate which will be released as soon as possible.

READ: Vango Mining secures $10 million funding to advance Marymia Gold Project

A focused drilling program included four, RC pre-collared, geotechnical diamond drill holes for 1060.3 metres testing key zones in the central part of the Trident resource model.

Marymia project and Trident deposit location and geology map with key prospects.

Other standout intersections included:

3 metres at 15.5 g/t from 226 metres, including 1-metre at 34.9 g/t; 5 metres at 3.03 g/t from 195 metres, including 2.5 metres at 4.50 g/t; and 5 metres at 13.8 g/t from 155 metres, including 1-metre at 21 g/t and 1-metre at 23.9 g/t.

These results confirm the very high-grade and continuity of the Trident deposit.

READ: Vango Mining hits high-grade gold of up to 14.17 g/t from its Trident project

Geotechnical information will also assist final mine planning and scheduling, to be incorporated into the standalone mining and processing pre-feasibility study (PFS) for the Marymia project.

Critical steps

The Trident resource and completion of mine planning are critical steps towards Vango realising its vision of becoming a high-grade gold producer at Marymia, which is 300 kilometres northeast of Meekatharra.

Vango continues to generate near-term and larger-scale, high-grade gold drilling targets, to be tested in coming months in order to further strengthen initial mining plans and potentially generate significant new discovery opportunities.

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Mon, 08 Apr 2019 16:01:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218111/vango-mining-strikes-bonanza-gold-grades-in-trident-drilling-at-marymia-218111.html
<![CDATA[News - Vango Mining secures $10 million funding to advance Marymia Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/214044/vango-mining-secures-10-million-funding-to-advance-marymia-gold-project-214044.html Vango Mining Ltd (ASX:VAN) has secured $10 million in funding to advance the Marymia Gold Project in the Mid-West region of WA.

The funding will be provided by way of an unsecured debt facility from a high net-worth resource sector lender.

Period of 24-months

The debt facility is for 24 months at an interest rate of 12% per annum, payable at the end of the 24-month period.

Once this period is over, the debt may be repaid, extended or otherwise materially varied subject to the mutual agreement of Vango and the debt provider.

READ: Vango Mining hits high-grade gold of up to 14.17 g/t from its Trident project

The company said it was delighted to receive funding support as it continued to advance mine planning and studies to facilitate the beginning of mining operations at the Marymia Project along with a proposed standalone gold processing plant.

Vango intersected high-grade gold at its Trident West deposit last month which will be incorporated into a resource estimate for the planned open-pit operation.

Maiden estimate for Trident West

It will be a maiden estimate for Trident West while the company is also updating the overall resource for the Trident project, which sits within the broader Plutonic Dome (Marymia) project.

Best results include a 2-metre interval at 14.17 g/t gold within a broader intersection of 11 metres at 5.66 g/t from 67 metres.

Within the 11 metre intersection was another 3 metres at 9.44 g/t.

- Jessica Cummins

 

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Tue, 05 Feb 2019 22:19:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214044/vango-mining-secures-10-million-funding-to-advance-marymia-gold-project-214044.html
<![CDATA[News - Vango Mining hits high-grade gold of up to 14.17 g/t from its Trident project ]]> https://www.proactiveinvestors.com.au/companies/news/213024/vango-mining-hits-high-grade-gold-of-up-to-1417-gt-from-its-trident-project-213024.html Vango Mining Ltd (ASX:VAN) has intersected high-grade gold at Trident West  deposit within the Trident project in WA’s Mid-West.

A 2-metre interval at 14.17 g/t within a broader intersection of 11 metres at 5.66 g/t from 67 metres was the standout result.

Within the 11-metre intersection was another 3 metres at 9.44 g/t.

Planned open pit operation

The new results will be incorporated in a resource estimate for a planned open-pit operation at Trident West.

It will be a maiden estimate for Trident West while the company is also updating the overall resource for Trident project, which sits within the broader Plutonic Dome (Marymia) project.

Trident Main underground plan

Results as well as geotechnical data gained from additional holes will also be used for portal planning to access the Trident high-grade underground zone.

Trident West deposit is the up-plunge expression at surface of the high-grade Trident Main deposit.

High-grade results

The open pit resource definition drilling program comprised five reverse circulation (RC) drill-holes totalling 520 metres.

Other high-grade results were:

- 4 metres at 4.22 g/t from 87 metres, including 1-metre at 8.01 g/t;

- 2 metres at  2.87 g/t from 19 metres and 1-metre at 5.35 g/t from 73 metres; and

- 2 metres at 1.63 g/t from 62 metres.

Further results awaited

A further six RC holes for 1,192 metres were also completed to the east of the Trident West open-pit target to test the linking zone between the two deposits.

The Trident Main resource estimate will be finalised following release of these results, which is expected in the coming weeks.

This will also facilitate the completion of underground mine planning at Trident Main.

Geotechnical and metallurgical drilling

In addition to the resource definition drilling, the company completed a program of geotechnical and metallurgical drilling at Trident West.

Four technical drills and one metallurgical hole were completed, with metallurgical test work on Trident West initiated to determine leach recovery and crushing-grinding parameters for the plant study.

Standalone development

Vango aims to develop Trident into a significant standalone mining and processing operation with upside potential to continually build the high-grade gold resource base.

- Jessica Cummins

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Tue, 22 Jan 2019 02:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213024/vango-mining-hits-high-grade-gold-of-up-to-1417-gt-from-its-trident-project-213024.html
<![CDATA[News - Vango Mining agrees terms for $5.1 million share placement ]]> https://www.proactiveinvestors.com.au/companies/news/200085/vango-mining-agrees-terms-for-51-million-share-placement-200085.html Vango Mining Ltd (ASX:VAN) has agreed terms for a share placement to sophisticated and professional investors to raise about $5.1 million.

Around 28.3 million fully paid shares will be offered in the placement at 18 cents per share.

Funding for project development

Funds raised will primarily be used for planned exploration and development of Vango’s wholly-owned Plutonic Dome Gold Project in Western Australia’s Mid West region.

Options are also offered in the placement on the basis of one free attaching option for every two new shares, exercisable at $0.27 for each new share and expiring two years from the date of issue.

DJ Carmichael Pty Ltd acted as corporate adviser and lead manager to the placement.

READ: Vango Mining hits more high-grade gold at Plutonic Dome project

Vango is overseeing a scoping study at the Plutonic Dome project and expects it to be complete this quarter.

The study, which is undertaken by Como Engineers, is targeting an annual processing rate of 250,000 tonnes, recovering up to 50,000 ounces for a minimum of five years.

Following the scoping study, Vango plans to undertake a definitive feasibility study for the project.

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Wed, 04 Jul 2018 13:05:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200085/vango-mining-agrees-terms-for-51-million-share-placement-200085.html
<![CDATA[News - Vango Mining hits more high-grade gold at Plutonic Dome project ]]> https://www.proactiveinvestors.com.au/companies/news/199448/vango-mining-hits-more-high-grade-gold-at-plutonic-dome-project-199448.html Vango Mining Ltd (ASX:VAN) has received further high-grade gold results from recent drilling at the Trident deposit within the Plutonic Dome Gold Project in Western Australia.

Results from three recent diamond drill holes at Trident add to high-grade results reported in April and May.

Resource update planned

The results of up to 8.8 metres at 6.1 g/t gold from 144 metres, including 3 metres at 9.8 g/t, will be incorporated into a resource update for the deposit.

Other results are 2.33 metres at 7.2 g/t from 161.92 metres, including 1.08 metres at 13.0 g/t; 2 metres at 7.3 g/t from 187 metres, including 1 metre at 10.7 g/t; and 3.3 metres at 6.7 g/t from 211.7 metres, including 1.3 metres at 15.3 g/t.

These results have extended the high-grade gold zone down-dip and along strike.

Drilling to test for deeper repeats

Due to the significant results, the company is continuing to test for deeper repeats of the high-grade gold zone in the overall structure of the ore body.

After the Trident resource update, mine planning will be carried out to add Trident to a standalone gold mining and processing plant scoping study for Plutonic Dome.

Scoping study underway

Vango has appointed Como Engineers to begin the study, which is expected to be complete early in the next quarter.

The plant will be designed to process a base case of high-grade gold resources from the Trident and K2 deposits.

It is targeting an annual processing rate of 250,000 tonnes, recovering up to 50,000 ounces for a minimum of five years.

Following the scoping study, Vango plans to undertake a definitive feasibility study for Plutonic Dome.

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Mon, 25 Jun 2018 14:14:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199448/vango-mining-hits-more-high-grade-gold-at-plutonic-dome-project-199448.html
<![CDATA[News - Vango Mining bags $1.5M for Plutonic Dome Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/185968/vango-mining-bags-15m-for-plutonic-dome-gold-project-185968.html Vango Mining Ltd (ASX:VAN) has raised $1.5 million via the issue of convertible notes to fund the next phase of exploration at its Plutonic Dome gold project in Western Australia.

The company is planning a drilling program at the high‐grade Trident Deposit, to follow up on its previous round of drilling that intersected 11 metres at 20.2 g/t gold from 161 metres.

Development work is also planned to commence at the K2 deposit in the current quarter that involves decline refurbishment and a dewatering program.

The convertible notes have a term of 18 months with a coupon rate of 15% per annum.

The convertible note holders can elect to convert their principal into Vango ordinary shares at a conversion price of $0.18 each at any time up to the maturity date.

If the convertible note holders elect not to convert their investment into shares by the maturity date, the company will payout convertible note holders in full, including any interest payable.

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Mon, 23 Oct 2017 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185968/vango-mining-bags-15m-for-plutonic-dome-gold-project-185968.html
<![CDATA[News - Vango Mining to update on The Plutonic Dome ]]> https://www.proactiveinvestors.com.au/companies/news/170357/vango-mining-to-update-on-the-plutonic-dome-170357.html Vango requested the halt pending details of a funding and an update on the development of The Plutonic Dome that is material to the company.

The halt will remain in place until the opening of trade on Thursday 15th December 2016, or earlier if an announcement is made to the market.

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Tue, 13 Dec 2016 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170357/vango-mining-to-update-on-the-plutonic-dome-170357.html
<![CDATA[News - Vango Mining Ltd to gain control of Dampier Gold project, WA ]]> https://www.proactiveinvestors.com.au/companies/news/146872/vango-mining-ltd-to-gain-control-of-dampier-gold-project-wa-68602.html Vango Mining Ltd (ASX:VAN) has agreed to acquire the remaining equity interest in the Plutonic Dome Gold Project in Western Australia from JV partner Dampier Gold Limited (ASX:DAU).

The Project is located in the gold bearing greenstone belt in central Western Australia which covers 412 sqkm and is an advanced opportunity for Vango to move from explorer to near term producer.

Significantly, the project has established infrastructure in place to fast-track production, with a toll treatment facility available at the nearby Barrick Gold (NYSE:ABX) processing plant.

The Plutonic Dome Gold Project has a JORC resource of 5.5 million tonnes at 3.1g/t gold for 820,000 ounces of contained gold.

The consideration for the transaction is $2.2 million, which is to be paid by Vango on or before 1 June 2016.

Vango is also required to pay up to $4 million, conditional upon the production of up to 300,000 ounces of gold from the project.

Directors of the company and a number of major shareholders will commit $4.5 million towards a total debt facility of $6 million to assist in the funding of mining the Plutonic Dome Project and to pay the purchase price for the remaining equity stake that Dampier Gold has in the Project.

Additionally, Vango is required to pay a royalty of 1% to 4% on the dollar value of each ounce of gold produced from the project, to be determined based on gold prices and capped at $2 million.

In February 2015, Vango had earned a 45% interest in the Plutonic Dome joint venture gold project from Dampier by completing its minimum $3 million sole funding obligation within a 14 month period.

The share price of Vango has increased by more than 400% during the last six months as the funding from directors and major shareholders as well as gaining 100% of the asset renders the Plutonic project an attractive asset.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 13 May 2016 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/146872/vango-mining-ltd-to-gain-control-of-dampier-gold-project-wa-68602.html
<![CDATA[News - Vango Mining in talks for $5M convertible note facility ]]> https://www.proactiveinvestors.com.au/companies/news/146871/vango-mining-in-talks-for-5m-convertible-note-facility-61002.html Vango Mining (ASX:VAN) is continuing negotiations regarding a $5 million convertible note facility with Singaporean investment entity Alpha Crown Pte Ltd.

Proceeds will be used to expedite the path towards development of K2, part of the Plutonic Dome Gold Project in Western Australia.

K2 has a resource of 415,000 tonnes at 7.7g/t for 103,000 ounces of gold. It has a pre-tax NPV of A$14.87 million, IRR of 229% and average C1 cash cost of A$791 per ounce.

The facility has a 12.5% interest rate compounded annually and is repayable 24 months from the date of issuance.

At maturity, the facility holder may elect to receive the facility amount in cash or equities at a conversion price of $0.16 per share.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 02 Mar 2015 15:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146871/vango-mining-in-talks-for-5m-convertible-note-facility-61002.html
<![CDATA[News - Vango Mining earns 45% stake in Western Australia gold project ]]> https://www.proactiveinvestors.com.au/companies/news/146870/vango-mining-earns-45-stake-in-western-australia-gold-project-60765.html Vango Mining (ASX:VAN) has earned a 45% interest in the Plutonic Dome joint venture gold project in Western Australia from Dampier Gold (ASX:DAU).

This follows completion of its expenditure obligations under the First Stage Sole Funding Agreement.

The company has elected to commit to the next $1 million of expenditure within the next five months to earn an additional 15% interest in the project.

Under the joint venture agreement, Vango is required to sole fund a minimum of $6million in project based expenditure over a two year period to earn up to a 75% interest in the Plutonic Dome project.

Vango has completed its minimum $3 million sole funding obligation within the 14 month period post satisfaction of the conditions precedent to earn a 45% interest in the Project.

The advanced K2 development project within the tenements has a Resource of 415,000 tonnes at 7.7 grams per tonne gold, or 103,000 ounces of contained gold.

K2 has a pre-tax NPV of $14.87 million, IRR of 229% and average C1 cash costs of A$791 per ounce.

Plutonic Dome has a global resource of 8.28 million tonnes at 3.1g/t, or 820,000 ounces of contained gold.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 18 Feb 2015 11:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146870/vango-mining-earns-45-stake-in-western-australia-gold-project-60765.html
<![CDATA[News - Vango Mining to detail financing transaction ]]> https://www.proactiveinvestors.com.au/companies/news/146869/vango-mining-to-detail-financing-transaction-60414.html Vango Mining (ASX:VAN) is preparing to make an announcement regarding a financing transaction.

The Australian Stock Exchange has granted the company a trading halt, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Tuesday 3rd February 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 30 Jan 2015 14:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/146869/vango-mining-to-detail-financing-transaction-60414.html