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Vango Mining strikes bonanza gold grades in Trident drilling at Marymia

The company is one of the leading gainers on the ASX today, with shares up 25% to an intra-day high of 17.5 cents.

Gold nuggets
The Marymia Gold Project is northeast of Meekatharra in WA’s Mid-West

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.

Quick facts: Vango Mining Ltd

Price: 0.17 AUD

ASX:VAN
Market: ASX
Market Cap: $109.14 m
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