Vango intersects more high-grade gold at Marymia

By Trevor Hoey. Published at Mar 23, 2020, in Mining

Gold exploration and development company Vango Mining Ltd (ASX:VAN) has identified high-grade gold intersections from the PHB-1 area on its 100%-owned Marymia Gold Project, 300 kilometres north-east of Meekatharra in the Mid-West region of Western Australia.

PHB-1 is situated to the north-east of the K2 open-pit, and these results build on previous outstanding returns of more than 100 g/t gold.

The new intersections featuring grades in the vicinity of 20 g/t gold are from reverse circulation (RC) drilling that has been targeting a shallow northerly plunging extension of the Main and Central Lodes, areas that were mined previously in the historical open-pit.

RC drillholes VK2RC0009 and VK2RC0010a as outlined below produced high-grade intersections from targeted extensions of the Main Lode structure based on the new shallow plunge interpretation of the gold mineralised zones.

These intersections at the PHB-1 prospect, come from an area where very few drill holes have tested projected extensions of the Main Lode, Central Lode and Eastern Lode structures, including below and along strike from the 7 metres at 103.6 g/t gold intersection from drillhole VK2RC00071 (see above).

Multiple share price catalysts in 2020

The new interpretation of shallow plunging, and untested, extensions to the Main Lode and other lode structures in the PHB-1 area, opens up a strike potential of over 500 metres on these structures, where both open pit and underground targets have been identified.

Management is planning further drilling to extend and define these new projected high grade gold lode extensions, a much anticipated event that has the potential to provide share price momentum despite challenging market conditions.

In the interim, the third round of drilling results from this area are expected shortly, along with proposals for new drilling to define new open pit and underground resources in this area.

The latest intersections will be incorporated into new interpretations of key lode structures, prior to incorporation into the planned Marymia Gold Project resource upgrade, arguably one of the most significant developments that will occur in 2020.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

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