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Vango’s Marymia Gold Project cracks one million ounce mark

Published 20-MAY-2020 12:16 P.M.


1 minute read

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Vango Mining Limited (ASX: VAN) has released a Global Mineral Resource at the Marymia Gold Project that has been significantly upgraded, now standing at 1 million ounces at a grade of 3 g/t gold.

Importantly, there is now added certainty given that the Indicated Resource category makes up 66% of the overall Mineral Resource.

As illustrated below, the Marymia Gold Project is in the hub of gold territory, 300 kilometres north-east of Meekatharra in the Mid-West region of Western Australia.

00 - VAN.PNG

Underlining the project’s high profile as an emerging development, Vango chairman, Bruce McInnes, said, ‘’The significant size of the resource, the high proportion in the Indicated Resource category and the relatively high-grade reaffirms the Marymia Gold Project as one of the most significant undeveloped gold projects in Australia.

“Marymia continues to deliver high-grade, high-quality resource ounces at relatively shallow depth, offering potential for a naturally flexible and therefore lower risk operation, in close proximity to existing infrastructure, including an established camp and access roads.”

Scope for further resource expansion

The new Mineral Resources are predominantly from just three of six identified gold mineralisation corridors, Trident, Triple P and PHB.

Each of these is similar in scale to the nearby Plutonic gold deposit, but still only tested to shallow depths.

Management has gained a detailed understanding of the geology and mineralisation controls at Marymia since the commencement of its systematic drilling campaigns in 2017.

This has led to the development of a predictive exploration model to be applied to continued drilling programmes that are designed to further expand the Marymia high-grade resource base.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

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