Gold exploration and development company Vango Mining Limited (ASX: VAN) has announced a significant, new, JORC 2012, high‐grade, Mineral Resource for the flagship Trident gold deposit on the Marymia Gold Project of Western Australia.
The new JORC 2012 Mineral Resource Estimate for the Trident gold deposit is reported to be 1.6Mt @ 8.0 g/t Au for 410,000 oz of gold including Indicated and Inferred Mineral Resource.
Vango said that the new JORC 2012 Trident Mineral Resource represents the first major milestone for the Company on the path to becoming a significant gold producer.
The company said that the mine planning is now planned to be fast tracked for submission to the WA Department of Mines for requisite approvals to facilitate the commencement of mining operations. VAN reported that the drilling is currently in progress, targeting further high‐grade gold resource expansion in the area.
Trident Gold Deposit
The Trident gold deposit is located on the 100%‐owned Marymia Gold Project, 300km northeast of Meekatharra in the Mid‐West region of Western Australia. The Trident‐Marwest‐Mareast Gold Corridor represents one of six identified gold corridors within the 40km strike length of highly prospective geology on the Marymia Gold Project.
VAN said that Trident is open beyond the 1km strike length tested to date, representing just 20% of the 5km Trident‐Marwest‐Mareast Gold Corridor which has substantial upside potential.
New, Significant, Mineral Resource
The new, JORC 2012 Mineral Resource for the Trident gold deposit was interpreted and estimated following completion of 60 targeted, predominantly diamond with reverse circulation (RC), drillholes for 11,465 metres. VAN reported that the Trident Mineral Resource incorporated information from three phases of drilling.
The new JORC 2012 Mineral Resource Estimate for the Trident gold deposit is reported to be 1.6Mt @ 8.0 g/t Au for 410,000 oz of gold including Indicated Mineral Resource of 945kt @ 9.4 g/t Au for 285,000 oz of gold, and Inferred Mineral Resource of 645kt @ 6.0 g/t Au for 125,000 oz of gold.
The company said that the drilling has defined, extended and significantly upgraded the high‐grade Indicated Resources at the core of the Trident gold deposit.
A Major Milestone For Vango
The company said that the new Trident Mineral Resource is a significant upgrade to the previous JORC 2004 Mineral Resource at Trident and represents the first major milestone in Vango’s plans to develop Trident into a substantial, high‐grade, gold mine to underpin the Company’s proposed standalone mining and processing operation.
The company reported that drilling is currently underway, testing other targets in the Trident‐Marwest‐ Mareast Gold Corridor – with the aim of adding additional high‐grade gold resources and significantly growing the Company’s gold assets.
The company is planning to fast track the mine planning for submission to the WA Department of Mines for requisite approvals to facilitate the commencement of mining operations.