- Vango Mining (VAN) sees “excellent” potential for an open pit resource at its Marymia gold project in Western Australia upon latest drilling results
- Drilling has been completed at the Skyhawk open-pit which was undertaken as part of the company’s campaign to add resources to the existing project resource base
- According to Vango, the results to date indicate the continuation of a zone of near-surface gold mineralisation, which has extended the mineralised zone at Skyhawk
- Moving forward Vango plans to model the results to determine the full controls on the wide gold zone and plan further targeted drilling at depth
- Shares have ended the day 8.1 per cent higher at 4 cents
Upon completion of drilling at its Skyhawk open-pit, Vango Mining (VAN) has received significant gold results.
The drilling at Skyhawk forms part of the company’s drilling campaign across its Marymia gold project located in the Mid-West region of Western Australia.
A total of six reverse circulation drill holes were completed at the target, with the pick of the results being 15 metres at 3.5 grams of gold per tonne (g/t) from 113 metres downhole, which included seven metres at 6.6 g/t from further down.
Vango also noted 12 metres at 2.4 g/t gold from 110 metres, including one metre at 7.6 g/t from 118 metres as significant.
These results are in addition to 16 metres at 4.4 g/t gold from 54 metres, including six metres at 8.2 g/t intersected in the first phase of open drilling in the same area.
Vango’s drilling results to date indicate the continuation of a zone of near-surface gold mineralisation, which has extended the mineralised zone at Skyhawk.
Historical drilling in the area has also returned up to 18 metres at two g/t and 16 metres a 3.5 g/t.
Considering all the results to date, the company believes there is “excellent potential” for an open pit resource to add to the existing project resource of one million ounces.
Moving forward Vango plans to model the results to determine the full controls on the wide gold zone and plan further targeted drilling at depth.
Company shares ended the day 8.1 per cent higher at 4 cents.