Vango Mining makes high-grade lode discovery at the K1 prospect

by Leena Thomas
Image: Vango Mining Limited

Vango Mining Limited (ASX: VAN) has announced significant high-grade intersections including 6m @ 8.66 g/t Au from the drilling at the K1 prospect and from three key lode extensions at the PHB-1 target at the PHB Corridor within its Marymia Gold Project in Western Australia.

The company reported the following significant intersections from the high-grade, lode discovery at K1 prospect: 6m @ 8.66 g/t Au including 2m @ 23.8 g/t Au from 128m; 4m @ 3.12 g/t Au including 1m @ 9.34 g/t Au from 90m, and, 3m @ 4.49 g/t Au including 2m @ 6.73 g/t Au from 105m.

VAN said that further significant intersections were reported from the three key lode extensions at PHB-1. This includes 3m @ 5.93 g/t Au including 1m @ 12.36 g/t Au from 117m, Central Lode; 6m @ 3.68 g/t Au including 1m @ 11.96 g/t Au from 232m, West Lode; 4m @ 3.83 g/t Au including 1m @ 12.61 g/t Au from 209m, West Lode; and 3m @ 3.90 g/t Au including 1m @ 9.94 g/t Au from 131m, Main Lode.

The company said that the results of broad spaced extension drilling indicate potential to link high-grade gold mineralisation from PHB-1 to the K1 prospect over a 3km strike length. VAN said that the results from the remaining 5 diamond drillholes at PHB-1 and 8 RC holes at K1 are pending.

Vango said that the follow-up drilling would be fast-tracked to define high-grade resource extensions and test the larger scale potential of the PHB Corridor. For now, the drilling has moved to the Trident Corridor, testing extensions to the Mareast and Mars/Marwest high-grade zones, including a potential link to the Trident resource.

Marymia project

Vango Mining’s 100%‐owned Marymia Gold Project is located 300km northeast of Meekatharra in the Mid‐West region of Western Australia.

The 360+ square kilometre project’s most advanced prospect is Trident which hosts a high-grade 410,000-ounce gold deposit grading 8.0 g/t. The project also has a number of other prospects it is exploring including Marwest, Mareast, K2, K1, Triple P, and Cinnamon. The PHB-1 prospect is located northeast of the previously mined K2 open-pit, and Main Lode target is located below the K1 open-pit.

The previously reported intersections on Main Lode included 3.0m @ 8.07 g/t Au, including 1.0m @ 12.5 g/t Au from 88m in VHBRC00081.

Drilling at Marymia

The company had recently commenced reverse circulation (RC) drilling at the K1 prospect, and RC and diamond drilling at the PHB-1 prospect.

VAN said that the results of broad spaced extension drilling indicate potential to link high-grade gold mineralisation from PHB-1 to the K1 prospect over a 3km strike length.

High-grade results from K1 prospect

The company announced that at K1 prospect, new high-grade results were reported from the first 3 of 11 reverse circulation (RC) holes.

Significant intersections include 6m @ 8.66 g/t Au including 2m @ 23.8 g/t Au from 128m in VK1RC0018 (true width); 4m @ 3.12 g/t Au including 1m @ 9.34 g/t Au from 90m, and, 3m @ 4.49 g/t Au including 2m @ 6.73 g/t Au from 105m in VK1RC0020.

VAN said that the results represent a potential new lode discovery at K1. The company said that this new lode occurs in the footwall of the Main Lode target below the K1 open-pit. The Main Lode and this new structure are interpreted to pass from ultramafic units into the highly prospective Plutonic ‘Mine Mafic’ unit immediately below these intersections.

Significant intersections from PHB-1

Vango Mining said that further significant intersections were reported from the three key lode extensions at PHB-1.

This includes 3m @ 5.93 g/t Au including 1m @ 12.36 g/t Au from 117m in VHBRC0022, Central Lode;  6m @ 3.68 g/t Au including 1m @ 11.96 g/t Au from 232m in VHBRC0021, West Lode; 4m @ 3.83 g/t Au including 1m @ 12.61 g/t Au from 209m in VHBRC0019, West Lode; and 3m @ 3.90 g/t Au including 1m @ 9.94 g/t Au from 131m in VHBRCD0006, Main Lode.

Ongoing drill program

VAN said that the Stage 1, 20,000 metre drill program is currently ongoing. The company said that the RC and diamond drilling is now testing the flagship Trident Corridor in three key locations.

The first location is down plunge to the northeast of the Mareast open pit where previous intersections including 10m @ 22.6 g/t Au from 50m2 were produced. The second is down plunge to the southwest of the Mars prospect where previous intersections including 9m @ 12.7 g/t from 54m3 were produced, projecting towards Trident. The third location is along strike to the northeast of the Trident high-grade resource4, which is open to the northeast and may link with the Mars zone 1km along strike.

VAN reported that diamond drilling is testing for extensions to the Plutonic ‘Mine-Mafic’ unit within the Trident Corridor, co-funded under the Exploration Incentive Scheme (EIS) with the WA government.

What’s next?

The Company said that following receipt of results from the Stage 1 drilling, it plans to fast-track Stage 2 resource definition drilling in order to rapidly build the high-grade gold resource base and support development and feasibility studies for a significant gold production centre at Marymia.

Vango Mining said that the drilling will also shortly commence at the Ned’s Creek Farm-in JV project with Lodestar Minerals Ltd (ASX: LSR) testing targets in the Contessa Corridor.

VAN said that further drilling would be planned to test the continuity of the new lode discovery at K1 and the Main, Central, and West lodes, both at depth and along the grid North-South strike at PHB-1. The company said that the ultimate objective is to define additional Mineral Resources.

The company said that the assays for a further five diamond drillholes from PHB-1, designed to test for down plunge/dip extensions of the key high-grade lode structures – plus the remaining eight RC holes at K1 – are expected over the coming weeks.

Management comments

VAN’s Managing Director Andrew Stocks said, “These intersections are potentially highly significant, being the first holes to test for high-grade depth extensions of the K1 gold zones. The results are open to the southwest and may well link up with the lode extensions that we’ve intersected at PHB-1, extending the PHB corridor to over three kilometres”.