Vango Mining Limited: Gold Intercepts from Ibis Open-Pit Drilling Campaign
Sydney, Australia - Vango Mining Ltd. (ASX:VAN) is pleased to announce further gold intersections from its open-pit focused drilling campaign at the Company's flagship Marymia Gold Project (Marymia, the Project) in the Mid-West region of Western Australia.These results are from five holes at the Ibis open-pit area. As with all the open-pit targets in the current phase of drilling, Ibis was previously mined at a time when the gold price was a fraction of the current price, presenting the opportunity for Vango to find additional mineable resources in its current drilling to add to the Marymia Project's substantial existing resource.
Significant gold intercepts have previously been reported from historic drilling below the open-pits, and Vango's 2021 drilling campaign is designed to test for extensions to these resources as well as for repeat structures at depth.
Vango's drilling at Ibis has returned four holes with gold greater than 1g/t often within broader mineralised envelopes of >0.3g/t Au. The results confirm the continuity of the mineralised structures below the Ibis open-pit and extend gold mineralisation to a greater depth than previously tested. Results include;
o 7m @ 0.7 g/t Au from 72m in VIBRC0001
Incl 2m @ 1.3 g/t Au from 77m
o 2m @ 2.1 g/t Au from 87m in VIBRC0002
o 1m @ 1 g/t Au from 108m in VIBRC0002
o 1m @ 1.6 g/t Au from 89m in VIBRC0003
o 5m @ 0.5 g/t Au from 71m in VIBRC0005
Incl 1m @ 1.3 g/t Au from 71m
and 1m @ 1.5 g/t Au from 75m
See Table 3* for a list of all significant intercepts from Vango's drilling at Ibis in its 2021 drilling campaign.
The mineralisation at Ibis sits within steep mineralised shears partially controlled by the contact between a felsic intrusive and mafics. These structures returned multiple high-grade gold intercepts of up to 27.7g/t, in historical drilling from outside the mined area, including:
o 1m @ 27.7 g/t Au from 24m in IBRC0004
o 5m @ 1.2 g/t Au from 26m in IBRC0015
Incl 1m @ 3.9 g/t Au from 30m
o 1m @ 2.7 g/t Au from 40m in IBRC0015
o 1m @ 1.1 g/t Au from 34m in IBRC0016
o 3m @ 1.3 g/t Au from 44m in IBRC0016
Incl 1m @ 3.0 g/t Au from 46m
o 1m @ 1.1 g/t Au from 52m in IBRC0016
o 2m @ 4.3 g/t Au from 38m in IBRC0019
o 2m @ 4.1 g/t Au from 7m in IBRC0073
o 5m @ 19.9 g/t Au from 45m in IBRC0079
o 4m @ 3.4 g/t Au from 29m in IBRC0125
The results from the Ibis open-pit will be reviewed to establish their potential to deliver additional economic resources to the Marymia resource base, and further drilling will be undertaken if warranted.
2021 Drilling Campaign Progress and Next Steps
Vango is targeting 11 priority open-pits in its 2021 drilling campaign. Drilling is designed to add resources to the substantial existing Marymia resource base, and to deliver 'critical mass' to Marymia's resource base to support a proposed stand-alone mining operation at the Project.
The first phase of drilling in all 11 open pits has now been completed and consisted of 8,914 metres of RC drilling across 56 holes. All results have now been reported from first-phase drilling at the Skyhawk, Parrot, Apollo, Prickleys and Ibis open pits, and results from drilling at the remaining 6 open-pits will be progressively released as they become available.
Vango has completed second phase drilling at two of the 11 priority open-pits (Skyhawk and Parrot). Second phase drilling will be conducted at all targets that deliver positive results in the completed first round of drilling, to test for further extensions of gold mineralisation to add to the Marymia resource base.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/A7GM092P
About Vango Mining Limited:
Vango Mining Ltd. (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.
Source:
Vango Mining Ltd.
Contact:
Bruce McInnes Executive Chairman Vango Mining Ltd. E: info@vangomining.com T: +61 418 183 466 W: www.vangomining.com Media and Investor Inquiries James Moses Mandate Corporate E: james@mandatecorporate.com.au T: +61 420 991 574