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Vango Mining gears up for a robust year ahead after advancing exploration activities in the December quarter

During the quarter, the company completed a 20,000-metre drilling program, designed to expand areas of known gold mineralisation and identify new areas of mineralisation.

Vango Mining Ltd - Vango Mining gears up for a robust year ahead after advancing exploration activities in the December quarter
Vango aims to release a resource upgrade in the first half of the year.

Vango Mining Ltd (ASX:VAN) is gearing up for an exciting year ahead driven by exploration initiatives to develop its key assets, which could help the company to become a significant gold producer.

During the December 2020 quarter, Vango completed a targeted 20,000-metre drilling program at the Marymia Project, designed to expand areas of known gold mineralisation and identify new areas of mineralisation.

The company’s planned exploration program is expected to contribute to a major resource upgrade planned for the first half of the current year.

Drilling update

During the quarter, the company completed 23 RC holes for 5963 metres and 11 diamond holes for 1560.2 metres for a total of 7423.2 metres.

The drilling targeted the Trident Corridor including Trident Extension and Trident Deeps, as well as the Mareast and Mars Extension targets, and also the PHB Corridor.

The company also completed a highly successful drilling program at its Ned’s Creek Joint Venture Project with Lodestar Minerals Limited (ASX:LSR).

In addition, mining studies and assessment of processing options for the Marymia Project continued in parallel with Vango’s drilling and resource building program.

Trident Corridor

During the quarter, 21 holes of RC and diamond drilling for 5143.6 metres were completed at the Trident Corridor.

This included a bonanza grade intersection from the Trident Extension zone of; 9 metres at 26.2 g/t gold from 137 metres including 2 metres at 102.2 g/t from 139 metres.

The intersection confirmed and extended the previous drilling to the south-west and highlighted the potential for a contiguous mineralised zone from Marwest/Mars deposit to the flagship Trident deposit.

Assay results also received from drilling at Trident includes:

  • 7 metres at 1.5 g/t from 268 metres including 3 metres at 2.4 g/t;
  • 1 metre at 2.6 g/t from 309 metres; and
  • 2 metres at 2.4 g/t from 330 metres.

These results represent a significant zone of mineralisation a further 250 metres to the northeast of the previously announced Trident resources, with results pending from a further five holes in this extension zone.

The company believes that the intersection may form part of a more substantial zone of mineralisation linking the Trident resource to the Marwest and the Mars targets 300 metres to the northeast.

Results are pending for a further 9 holes at Trident designed to extend dip and strike of mineralisation outside the current resource.

Board changes

During the quarter, managing director Andrew Stocks and non-executive director Matthew Keegan stepped down from their roles with the company.

Stocks played an integral role in establishing the operational structure required for Vango to achieve its corporate objectives for the development of the Marymia Project.

In January, Vango appointed Craig Wallace, an accomplished international commercial negotiator and communicator with extensive senior executive and board experience, as an independent non-executive director.

Looking forwards the company is focused delivering a major resource upgrade for Marymia in H1 CY21.

Quick facts: Vango Mining Ltd

Price: 0.055 AUD

ASX:VAN
Market: ASX
Market Cap: $56.83 m
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Vango Mining says 2021 will be the year it starts producing and potentially...

Vango Mining Ltd's (ASX:VAN) chairman Bruce McInnes caught up with Proactive's Andrew Scott soon after releasing results from its Marymia gold project which revealed a 'bonanza' grade intersection from the Trident Extension zone of 9 metres at 26.2 g/t gold, including 2 metres at 102.2 g/t....

on 13/1/21

3 min read