Vango sees high grade open pit potential at Marymia
Published 21-JAN-2020 11:17 A.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Gold exploration and development group Vango Mining Limited (ASX:VAN) has intersected further high‐grade gold from its recently completed drilling program at the Albatross and Flamingo prospects, part of its 100%‐owned Marymia Gold Project, 300 kilometres north-east of Meekatharra in the Mid‐West region of Western Australia.
This phase of drilling delivered very positive results, confirming the exceptional, high‐grade open‐pit resource potential of the Albatross and Flamingo prospects.
Drilling comprised an initial, wide spaced reverse circulation (RC) drilling programme of 12 holes for nearly 1.9 kilometres in three approximately 200 metre spaced zones along the strike length of the Albatross and Flamingo prospects, which as indicated below extends for more than 600 metres.
All assay results have now been returned and have delivered broad, shallow high‐grade mineralisation in all three zones.
Prominent intersections included 14 metres at 7 g/t gold from 48 metres, 9 metres at 3.6 g/t gold from 27 metres and 3 metres at 7.4 g/t gold from 25 metres.
The most recent round of results, combined with previous outstanding intersections including 4 metres at 50.6 g/t gold and 3 metres at 38 g/t gold, both from between 80 metres and 100 metres demonstrate the promising tenor of mineralisation in the area.
While Vango has been successful in delineating near surface high-grade mineralisation, when looking at the broad range of exploration results, there is evidence that deeper drilling is likely to yield even higher grades.
Management said that the outstanding results have highlighted resource potential to the north, west and at depth below the Albatross and Flamingo historical open pits.
Following re‐interpretation of the mineralised zone geometries a new resource model will be generated to be included in a planned resource upgrade for the entire Marymia Gold Project, a potential market moving event.
Drilling aimed at delineating high-grade mineralisation at depth
Further drilling will test for down dip/down plunge extensions of the high‐grade mineralisation associated with thrusted repeats of the same Mine‐Mafics that host the Triple‐P high‐grade gold mineralisation one kilometre to the north‐east, as indicated below.
Larger scale potential has been identified across the entire zone which extends for more than three kilometres from Triple‐P to the Exocet pit.
This wider Vulcan target zone has similar dimensions (about three kilometres by one kilometre) to the Plutonic gold deposit, which has produced more than 5.5 million ounces of gold, and consequently Vulcan will be a priority larger‐scale drilling target for Vango in 2020.
General Information Only
This material has been prepared by Jason Price. Jason Price is an authorised representative (AR 000296877) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C), and a Director of S3 Consortium Pty Ltd (trading as StocksDigital).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Jason Price, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, Jason Price, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
