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Vango Mining (ASX:VAN) - Chairman, Bruce McInnes - The Market Herald
Chairman, Bruce McInnes
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  • Vango Mining (VAN) has identified a bonanza gold zone 250 metres from its Trident Resource in its recently completed 2020 drilling program at the Marymia Gold Project
  • Vango Mining is an exploration mining company in Western Australia, with complete ownership of the Marymia Gold Project, consisting of 45 granted mining leases over 300 kilometres squared
  • Vango's latest intersection covers nine metres at 26.2 g/t gold from 137 metres, including two metres at 102.2 g/t gold from 139 metres
  • The intersection confirms and extends previous drilling carried out to the southwest, and highlights the potential for a contiguous mineralised zone from Marwest, Mars deposit and Trident
  • Results are still pending for a further four holes at Trident Deep, and five holes at Trident Extension, designed to extend dip and strike of mineralisation outside the current resource
  • Vango Mining is in the grey, trading at 7.3 cents per share

Vango Mining (VAN) has identified a bonanza gold zone 250 metres from the Trident Resource in its recently completed 2020 drilling program at the Marymia Gold Project.

Vango Mining is an exploration mining company in Western Australia, with ambitions to become a high-grade gold miner by developing the 100 per cent owned Marymia Gold Project, consisting of 45 granted mining leases over 300 kilometres squared.

The Marymia Gold Project has potential to become one of Australia’s largest high-grade production mines.

The results come from targeted drilling within the Trident Corridor and include a bonanza grade intersection in the Trident Extension zone.

Vango's latest intersection covers nine metres at 26.2 g/t gold from 137 metres, including two metres at 102.2 g/t gold from 139 metres.

This excellent result extends a high-­grade zone intersected with one of their historical holes, where very little previous drilling on this section was done before, with only one oblique hole at this depth.

These results represent a significant zone of mineralisation a further 250 metres to the northeast of the Trident resources, ­ with further results still to come from this extension zone. Significantly, this may also form part of a more substantial zone of mineralisation, linking the Trident resource to the Marwest mineralisation 300m to the north­east.

During the drilling campaign, five diamond holes — testing for the continuation of the Trident mineralisation — were completed, with results showing three zones of gold mineralisation were intercepted in this hole.

The continual mineralisation at depth in this area is highly encouraging for the identification of further high-grade zones to significantly extend the Trident resources, and also the potential mine life for any future mining of the Trident deposit.

 Results are pending for a further four holes at Trident Deep and five holes at Trident Extension, which are extending the dip and strike of the mineralisation outside of the previous resource.

"We are delighted with the latest results from our targeted drilling program at the Marymia Gold Project. These results reinforce the company’s view that Marymia represents one of the largest underdeveloped gold projects in Australia," said Vango Executive Chairman, Bruce McInnes.

"These results continue to validate our pathway to a completed feasibility study in order to further the company’s aim to rapidly transition to building a major gold production centre based around our Marymia tenements".  

Vango remains on track to deliver a substantial resource upgrade at the Marymia Project in the first half of this year.

Vango Mining is in the grey, trading at 7.3 cents per share at 10:00 am AEDT.

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