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Vango Mining Limited (VAN.AX) Intersects Wide, High Grade Gold Zones at Marymia

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Vango Mining Limited
Vango Mining Limited

Vango Mining Limited (VAN.AX) Intersects Wide, High Grade Gold Zones at Marymia

Sydney, Australia, Feb 25, 2022 - (ABN Newswire) - Vango Mining Limited (ASX:VAN) is pleased to announce further high grade gold intersections from drilling at the Skyhawk open pit target as part of 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.

The latest assay results are from 6 reverse circulation (RC) drillholes for a total of 1,014m at the Skyhawk open pit, as part of Vango's second phase of drilling at priority open pit targets. Significant gold was intersected in 5 of the holes including the following wide and high grade gold results:

o 15m at 3.5 g/t Au from 113m in VSKRC0010 incl. 7m at 6.6 g/t Au from 119m
o 12m at 2.4 g/t Au from 110m in VSKRC0009 incl. 1m at 7.6 g/t Au from 118m

These results are highly encouraging. They are supported by several other zones showing the potential for an economic resource in the area below the previously mined laterite material at the Skyhawk open pit, including;

- 1m at 2.2 g/t Au from 85m in VSKRC0008
- 1m at 1.2 g/t Au from 126m in VSKRC0009
- 4m at 1 g/t Au from 144m in VSKRC0009
- 1m at 1 g/t Au from 141m in VSKRC0010
- 1m at 1.7 g/t Au from 162m in VSKRC0012
- 4m at 1.5 g/t Au from 64m in VSKRC0013
- 1m at 1.2 g/t Au from 81m in VSKRC0013

The intercepts in holes VSKRC009 and 10 are located close to the previously announced result in VSKRC0007, from the first phase of drilling at Skyhawk last year which returned:

- 16m @ 4.4 g/t Au, from 54m in VSKRC0007, including 6m @ 8.2 g/t Au

These results extend an excellent zone of mineralisation from historical drilling previously reported from Skyhawk:

- 18m @ 2.0 g/t Au, from 76m in DSHRC0023,
including 1m @ 8.5 g/t Au
- 16m @ 3.5 g/t Au from 132m in DSHRC0014
- 12m @ 2.5 g/t Au from 65m in DSHRC0004
- 7m at 4.6 g/t Au from 67m in DSHRC0015
- 5m at 6.4 g/t Au from 84m in DSHRC0015

Skyhawk open pit - Commentary

Vango's drilling results at Skyhawk demonstrate the continuation of a significant zone of near surface gold mineralisation, which has extended the mineralised zone at Skyhawk.

See cross sections from latest round of drilling in Figures 1 and 2*, and a plan view of current and historic drilling intersections in Figure 3*.

Skyhawk is the first open pit targeted in the second phase of drilling at priority open pits identified in the Company's open pit focused drilling campaign. Vango has 11 targeted open pits (Figure 4*) not currently part of the Marymia JORC 2012 resource, which stands at 1.02Moz @ 3.0 g/t Au , in this extensive ongoing drilling campaign. It is designed to add significant near surface resources amenable to open pit mining, as part of any potential future mining operation at the Marymia Project.

Vango is delighted with the results of this second round of drilling at the Skyhawk target, which has reaffirmed and strengthened its significant open pit potential. These results will be modelled to determine the full controls on this significant wide gold zone and plan further targeted drilling at depth.

Open Pit Focused Drilling Campaign Progress and Next Steps

Vango targeted 11 priority open pits in an extensive open pit focused drilling campaign, commencing in H2, calendar 2021. Drilling was designed to add resources to the substantial existing Marymia resource base, and to assist in delivering 'critical mass' to Marymia's resource base to support a proposed standalone mining operation at the Project.

The first phase of drilling in all 11 open pits has been completed and consisted of 8,914 metres of RC drilling across 56 holes. All results from the first phase campaign have been received and reported.

Vango will now conduct follow up, second phase drilling at targets that delivered positive results from the completed first round of drilling, to test for further extensions of gold mineralisation to add to the Marymia resource base.

Second phase drilling has already been competed at the Skyhawk and Parrot open pits. Results from drilling at Skyhawk are reported in this announcement and results from the Parrot open pit are pending.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/B8S1LBSG


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.

Contact:

Bruce McInnes
Executive Chairman
Vango Mining Limited
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

Source:
Vango Mining Limited

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