- Vango Mining (VAN) closes green after announcing it has completed over 7000 metres of drilling at its flagship Marymia Gold Project in WA
- The 15,000-metre campaign was launched in July this year, and Vango has already drilled for 7220 metres in nine out of 11 priority targets
- Vango says the drilling is designed to test for depth and strike extensions of open-pit targets that were previously mined for near-surface oxide material
- Vango is testing deeper areas where no substantial drilling has ever been conducted before, with plans to add to the current Marymia resource base
- Shares in Vango closed 4.76 per cent higher at 6.6 cents each
Vango Mining (VAN) closed green on the ASX today after announcing it has completed over 7000 metres of drilling at its flagship Marymia Gold Project in WA.
The company launched a major drilling campaign at the project in July this year and is already almost halfway done.
Vango said of the 15,000 metres of planned drilling across 11 priority open pit targets, it has already drilled for 7220 metres in nine of these targets.
What’s more, Vango said it is “highly encouraged” by the initial assessment of this drilling program, with veining and alteration associated with mineralisation struck across multiple zones in all pit targets drilled so far.
While no date for first assays was specified, Vango said assay results are pending and due “imminently”.
The major Marymia campaign
The drilling campaign is designed to test for depth and strike extensions of open-pit targets in the Marymia area, which Vango said were previously mined solely for near-surface oxide material.
Vango is testing deeper areas where no substantial drilling has ever been conducted before, with plans to add to the current Marymia resource base.
The project currently has a mineral resource of 1.02 million ounces at 3.0 grams of gold per tonne.
All 11 targets being tested as part of the current drilling campaign are not part of this resource.
Along with the planned resource extension, Vango said the drilling program will also enhance the company’s understanding of the mineralised zones within the project area and will help the company assess funding requirements for mine development.
This is not Vango’s first drilling campaign at the Marymia project, either; in 2020, the company took on a 20,000-metre reverse circulation (RC) and diamond drilling program focussing on targets at the Trident and PHB gold corridors.
The latest campaign follows some “extensive” geological and modelling work that incorporated the results from the 2020 drilling campaign.
Vango said it plans to release an updated and expanded mineral resource for the project using the results from its 2020 and 2021 drilling work, though it has not specified in today’s announcement an exact timeframe for the update.
Shares in Vango closed 4.76 per cent higher at 6.6 cents each. The company has a $75 million market cap.