Annual Report to Shareholders 2021
Sydney, Sep 30, 2021 AEST (ABN Newswire) - Vango Mining Limited (
ASX:VAN) is progressing a deliberate strategy of growing its highgrade gold endowment to support its ambitions of becoming a significant high-grade Western Australian gold miner. Our exploration programme is designed to expand our current 1-millionounce resource, much of which has never been drill tested below 200 metres.
Current drilling is specifically designed to deliver a resource increase (Indicated and Inferred) to the existing Marymia resource base and to enhance the understanding of the mineralised zones within the initial eleven targeted open pits for the benefit of Vango's mine planning.
In the near term, drilling campaigns will be designed to deliver 'critical mass' to increase the mine life of a proposed future mining operation from Marymia's resource base. They will specifically target increases in total ounces and tonnes to ensure that mill capacity and Project life of mine are maximised. This allows assessment of appropriate financing levels for the Company's proposed stand-alone mining operation.
The Plutonic gold mine has produced in excess of 5.5moz of gold and sits along strike, immediately to the southwest of the Marymia Project in a geological sequence known as the Mine Mafic. This same geological sequence extends across Marymia and most of it has never been drill tested to depth.
Success of the Company's targeted exploration strategy has the potential to deliver a material change to the scale of Vango's high grade resource base and its planned gold mining operations.
To view the Annual Report, please visit:
https://abnnewswire.net/lnk/5830E8YZ
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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