Provides Drilling Update at Marymia Gold Project
Sydney, July 29, 2021 AEST (ABN Newswire) - Vango Mining Limited (
ASX:VAN) is pleased to provide the following update on its ongoing 2021 drilling campaign at the Company's flagship Marymia Gold Project (Marymia, the Project) in the Mid-West region of Western Australia.
Highlights
- Vango's 2021 drilling campaign at flagship Marymia Gold Project is well underway
- 14 holes for a total of 2,465m of RC drilling completed to date of a minimum 15,000m campaign - ability to further expand the campaign subject to results
- Drilling is targeting 11 priority open pits not currently part of the Marymia Project's 1.02Moz @ 3.0 g/t Au JORC 2012 Resource
- First-pass drilling at highest priority open pits - Skyhawk, Parrot and Apollo - complete, and drilling currently underway at Prickleys open pit
- Initial assessment is highly encouraging - shows geological continuity of previously identified structures, including alteration and sulphides consistent with gold mineralisation at Marymia
- Drilling has been extended in some holes at Skyhawk and Parrot to test structures and alteration zones not previously encountered in historical drilling
- Assays from initial holes submitted for laboratory assessment - results to be released when available
- Vango aims to deliver a substantial Indicated and Inferred resource increase to the existing Marymia resource this year
Vango commenced its latest phase of drilling at Marymia earlier this month (ASX announcement, 9 July 2021). Drilling is focused on 11 priority open-pit targets, not currently part of the Marymia JORC 2012 resource base (Figure 1*). It is designed to add significant, near-surface resources amenable to open pit mining as part of any future mining operation at the Marymia Project.
To date, the Company has completed 14 holes for a total of 2,465 metres of reverse circulation (RC) drilling at its highest priority open pits targets. It plans undertake a minimum of 15,000 metres of RC drilling in this drilling campaign, with the ability to expand the campaign subject to results.
First-pass drilling has completed at the priority Skyhawk (7 holes), Parrot (4 holes) and Apollo (3 holes) open pits, and drilling is currently underway at the Prickleys open pit.
Vango is highly encouraged by its initial assessment of the drilling to date, which has demonstrated the geological continuity of structures, including alteration and sulphides, consistent with previous results from these deposits.
At Skyhawk and Parrot in particular, drilling was extended in several holes. Previous drilling in these areas had concentrated heavily on the oxide material and the strong continuation of the structures in the current drilling with associated alteration is significant. Some of the prospective zones appear to be new structures, not previously been recognised or significantly tested.
It is important to note that the presence of these structures and alteration zones may not correlate with economic gold mineralisation, but assay results are keenly awaited. Second and third phases of drilling have now been planned at Skyhawk and Parrot, and, subject to the initial results, will test the systems to around 120m-150m below surface.
Assays from these initial holes have been submitted for laboratory assessment, and results will be released when they become available.
Details of 2021 Drilling Campaign
The 11 open pits to be targeted in the 2021 drilling campaign are; Apollo, Exocet, Ibis, Kookaburra, Parrot, Pigeon, Prickleys, Redfin, Rosella, Skyhawk and Speckled (Figure 1). The Skyhawk, Parrot and Apollo open pits have been assessed as the highest priority targets, and drilling has commenced at these targets.
The 11 open pit targets have been ranked in order of priority, based on historic gold inventory and a review of historic drilling, and the proposed drillholes at each target have been designed.
Drilling is specifically designed to deliver a substantial (Indicated and Inferred) resource increase to the existing Marymia resource base. It will also enhance the understanding of the mineralised zones within the targeted open pits for the benefit of Vango's mine planning, and for assessing funding requirements for the Company's proposed stand-alone mining operation.
This campaign is also designed to deliver 'critical mass' to increase the mine life of a proposed future mining operation from Marymia's resource base, specifically targeting an increase in total ounces to ensure that mill capacity of any future mining operation is maximised over the Project's total mine life.
Background to 2021 Drilling Campaign
Vango completed an extensive 20,000 metre reverse circulation (RC) and diamond drilling drill campaign in 2020, and all results from this campaign have been released to the market. The program focused on priority targets at the Trident gold corridor and PHB gold corridor at Marymia.
Vango has completed an extensive geological review and modelling of the Marymia Project, incorporating results from the 2020 drilling campaign. The results of this work have formed the basis of Vango's 2021 field season, focusing on open-pit targets designed to add significant, near-surface resources to the existing Marymia JORC resource base.
The Company plans to release an updated and expanded JORC 2012 resource for the Marymia Project, including results from the 2020 and 2021 drilling campaigns, in the second half of calendar 2021.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/6672ANKS
About Vango Mining Limited
Vango Mining Limited (ASX:VAN) is a minerals exploration mining company with ambitions of becoming a high-grade WA gold miner by developing the 100% owned Marymia Gold Project (Marymia) in the mid-west region of Western Australia. The Project comprises 45 granted mining leases over 300km. It has an established high-grade resource of 1Moz @ 3g/t Au, underpinned by the Trident Deposit, whose resource is 410koz @ 8g/t Au, with immediate extensions open at depth/along strike.
The Marymia Project has the potential to become one of Australia's largest high-grade producers. The Greenstone Belt in the Marymia region includes six major gold corridors, which remain largely un-tested beyond 100m depth - supported with an extensive drilling and geophysical database. Previous mining between 1992-2001, produced 580,000 ounces of gold almost entirely from open-pits.
Vango is focused on growing its high-grade gold resource to support a proposed stand-alone gold mining and production operation at Marymia. The Project is located along strike, immediately to the north of Superior Gold's (CVE:SGI) Plutonic Gold Mine which has produced more than 5.5Moz of gold.
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