leadf
logo-loader
viewVango Mining Ltd

Vango Mining's high-grade gold results extend K1 lode discovery at Marymia

Stage-2 drilling is being planned to build upon high-grade resources, targeting an upgrade in the first half of 2021.

Vango Mining Ltd - Vango Mining extends K1 lode discover in stage-1 drilling at Marymia Gold Project
These results are from the final eight of 11 broad spaced reverse circulation holes at K1

Vango Mining Ltd (ASX:VAN) has extended the recent K1 lode gold discovery after receiving high-grade results from stage-1 drilling at Marymia Gold Project in Western Australia.

Results from the final eight of 11 broad-spaced reverse circulation (RC) holes at K1, part of the current 36,000-metre drilling program, have extended the discovery below K1 pit.

New intersections include:

  • 4 metres at 10.9 g/t gold, including 2 metres at 20.1 g/t from 161 metres;
  • 4 metres at 5.16 g/t, including 1-metre at 13.7 g/t from 78 metres; and
  • 11 metres at 2.58 g/t, including 1-metre 20 g/t from 102 metres.

The new lode intersections both confirm and extend the recent K1 lode discovery in the PHB Corridor to more than 1-kilometre and open at depth.

"Validate our approach"

Managing director Andrew Stocks said: “These results are highly significant as they validate our approach to targeting mineralised structures where they intersect the highly prospective Mine-Mafic unit at what is still a relatively shallow depth.

“We now have the confidence that we will continue to expand our open pit and high-grade underground resource base at the Marymia Project.

“In parallel, we are now testing the first of our large-scale ‘Plutonic analogue’ targets, co-funded with the WA Government, where success could lead to a material change to the scale of our planned high-grade gold mining operations.

“Early indications are that we are seeing the first glimpses of the multi-million-ounce potential of the Marymia Gold Project.

“The current drilling program will continue into H1 of 2021, when we are targeting a significant resource upgrade to underpin feasibility studies focused on building a major gold production centre at Marymia.”

PHB-1 intersections

Intersections from diamond holes testing key lode structures at the adjacent PHB-1 include:

  • 3 metres at 6.01, including 1.4 metres at 9.50 g/t from 89 metres; and
  • 2 metres at 4.77 g/t, including 1-metre at 8.05 g/t.

Drilling is now well-advanced testing targets in the flagship Trident Corridor including:

  • Completion of four initial RC holes testing down-plunge to the northeast of the Mareast open pit where previous intersections including 10 metres at 22.6 g/t from 50 metres have been produced;
  • The completion of seven RC holes testing down plunge to the southwest of the Mars prospect where previous intersections including 9 metres at 12.7 g/t from 54 metres have been produced, projecting towards the Trident resource; and
  • Completion of the first three of nine RC holes testing along strike to the northeast of the Trident high-grade resource, which is open to the northeast and may link with the Mars zone 1-kilometre along strike.

These programs offer significant potential to expand high-grade resources at relatively shallow depth.

Additional diamond drilling

In addition, diamond drilling is testing for extensions of both the Trident high-grade zone and the Plutonic ‘Mine-Mafic’ unit within the structural corridor defined by steeply dipping faults that extend from Trident to a large-scale target area termed ‘Neptune’ 2 kilometres to the northeast.

This program is co-funded by the WA Government through the Exploration Incentive Scheme (EIS).

Trident style mineralisation intersected is 2 kilometres along strike of the lower shoot at Trident and offers a possible step-change in terms of resource potential for the project.

Samples from this zone are being processed and results are expected in early November.

Next steps

Drilling is also underway on the Ned’s Creek Farm-in JV project with Lodestar Minerals Ltd (ASX:LSR), with the completion of four RC holes testing the shallow 'supergene' zone at Contessa and four pre-collars completed for the diamond drilling stage of the program are to commence shortly.

Vango remains focused on:

  • Completing the existing drilling program that aims to increase the high-grade underground resource base (in addition to the open-pit resource base);
  • Releasing a resource upgrade in the first half of 2021 to support ongoing project feasibility studies, and
  • Assessing drilling results from the larger scale, ‘Plutonic analogue’, targets program in the context of a potential step-change in the project scale being considered.

To date, a total of 54 RC and diamond drill holes have been completed for 11,601 metres of a total 36,000 metres planned in a two-stage program of shoot discovery followed by resource extension and definition.

Quick facts: Vango Mining Ltd

Price: 0.072 AUD

ASX:VAN
Market: ASX
Market Cap: $71.54 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Vango Mining Ltd named herein, including the promotion by the Company of Vango Mining Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Vango Mining's Andrew Stocks delighted with further high-grade results from...

Vango Mining Ltd's (ASX:VAN) Andrew Stocks tells Proactive's Andrew Scott they've extended the recent K1 lode gold discovery after receiving high-grade results from stage-1 drilling at the Marymia Gold Project in Western Australia. Results from the final eight of 11 broad-spaced reverse...

on 22/10/20

4 min read