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Vango Mining (ASX:VAN) - Chairman, Bruce McInnes - The Market Herald
Chairman, Bruce McInnes
Source: The Market Herald
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  • Vango Mining (VAN) enters a trading halt while it plans to raise some capital
  • While it isn't clear how much Vango will raise, the money may be used to support exploration at the Marymia Gold Project in Western Australia
  • Next month, Vango plans to begin at least 15,000 metres of drilling which will target 11 open pits that aren't part of the existing resource
  • The company expects to remain in the trading halt until Tuesday, June 15 at the latest
  • Vango's shares last traded at 6.7 cents on Thursday, June 10

Vango Mining (VAN) has entered a trading halt while it plans to raise some capital.

While it isn't clear how much Vango will raise, the money may be used to support exploration at the Marymia Gold Project in Western Australia.

In late May, the company announced its plans to conduct at least 15,000 metres of drilling at its flagship gold project.

Drilling will target 11 priority open pits that aren't yet part of Marymia's JORC 2012 one-million-ounce resource. The drilling will aim to add near-surface resources amenable to open-pit mining to support a future mining operation.

The drill campaign will also focus on the Crown Jewels Trident deposit to define further high-grade extensions, and also at the Ned's Creek Project which is held in a joint venture with Lodestar Minerals (LSR).

The major drilling program is expected to begin this month.

Additionally, Vango Mining plans to increase the Marymia Project's indicated and inferred resource later this year.

The company expects to remain in the trading halt until Tuesday, June 15 at the latest.

Company shares last traded at 6.7 cents on Thursday, June 10.

VAN by the numbers
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