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Vango Mining reels in encouraging diamond drilling results from Ned’s Creek gold farm-in

Follow-up work with guidance from JV partner Lodestar Minerals will include a review of diamond drilling at Contessa to support ongoing drill targeting as well as RC drilling to define the extent and grade of supergene gold mineralisation.

Vango Mining Ltd - Vango Mining completes diamond drilling program at Ned’s Creek in Western Australia
The Ned’s Creek Project is in the northern Murchison gold field in Western Australia.

Vango Mining Ltd (ASX:VAN) has received encouraging gold results from diamond drilling at Ned Creek’s Project in Western Australia's Murchison region where it is spending $5 million over a three-year period to earn a 51% interest from Lodestar Minerals Limited (ASX:LSR).

Four diamond drill holes were completed with three holes at the Contessa prospect and a single hole northeast of the Gidgee Flat prospect.

DeGrussa highlights regional potential

The discovery of Sandfire Resources’ DeGrussa copper-gold deposit (10.7 million tonnes at 5.1% copper and 1.7 g/t gold) in 2009 highlighted the potential of the region to host significant, high-grade copper deposits and initiated a new era of exploration within the Proterozoic volcano-sedimentary basins.

With joint venture partner Lodestar, Vango's regional exploration program is targeting gold and base metal deposits of significant scale, utilising advanced airborne and surface geophysical surveys, regional multi-element geochemical sampling and geological mapping. 

Vango was awarded a WA Government funding under Round 22 of the EIS scheme to extend diamond drilling of the Gidgee Flat structural target in 2021.

Contessa results 

Assay results have been received from Contessa where drilling targeted extensions to the high-grade gold reported in LNRC026 that returned 4 metres at 78 g/t gold from 140 metres. 

  • Hole VCTRCD006 returned 4 metres at 2.08 g/t gold from 144 metres and 1-metre at 6.52 g/t from 147 metres. 
  • Hole VCTRCD0011 drilled 30 metres directly below LNRC026 returned 1-metre at 3.8 g/t from 183 metres. 

The results indicate continuity of structurally controlled alteration and gold mineralisation within an extensive gold mineral system vectoring towards the granite contact, a key structural target for syenite-related mineralisation elsewhere along the Contessa corridor. 

Gidgee flat results 

At Gidgee Flat a single diamond drill hole targeted a major fault that displaces the granite-greenstone contact.

Several zones of sub-1 g/t, syenite-related gold mineralisation were intersected (reporting a maximum 0.86 g/t gold), indicating that the fault was active at the time of gold mineralisation.

The hole terminated in granite at 299.9 metres, before reaching the granite-mafic contact equivalent to the Gidgee Flat mineralised zone.

It is anticipated that this target will be tested in 2021 under the EIS co-funded drilling program.

Next steps 

Follow-up work at Ned’s Creek with guidance from JV partner Lodestar Minerals (ASX:LSR) will include:

  • A review of diamond drilling at Contessa to support ongoing drill targeting and recommencement of drilling as soon as practicable; and
  • Reverse-circulation drilling to define the extent and grade of the supergene gold mineralisation at Contessa.

Quick facts: Vango Mining Ltd

Price: 0.055 AUD

Market: ASX
Market Cap: $56.83 m

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