Vango Mining Ltd's (ASX:VAN) high-grade results from a 20,000-metre drilling campaign at its Marymia Gold Project in Western Australia's Mid-West have extended the gold mineralised system along strike and depth at three major gold corridors – Trident, PHB and Triple-P.
Results from the 2020 drilling campaign are being added to resource model ahead of a major resource upgrade and will also assist in ongoing mine planning.
Shares have been as much as 25% higher intra-day to 10 cents and have risen from 5.1 cents at the market close on February 26.
Highlight results from 28 reverse circulation (RC) holes for 6,622 metres and seven diamond holes for 1,781.8 metres at Trident gold corridor, described as the company’s crown jewels, included:
- 9 metres at 26.2 g/t gold from 137 metres including 2 metres at 102.2 g/t from 139 metres;
- 7.15 metres at 17.1 g/t from 193.85 metres including 3.6 metres at 24.4 g/t;
- 11 metres at 20.0 g/t from 161 metres including 2 metres at 93 g/t;
- 7 metres at 18.2 g/t from 218 metres including 2.02 metres at 44 g/t;
- 11.48 metres at 11.5 g/t from 159 metres including 4 metres at 26.1 g/t;
- 11 metres at 36.2 g/t from 213 metres including 2 metres at 184 g/t;
- 9 metres at 15.0 g/t from 28 metres including 3 metres at 39.8 g/t; and
- 10 metres at 22.6 g/t from 50 metres including 6 metres at 33.3 g/t.
Extending mineralised zone
Notably, the Trident extension drilling has extended the gold mineralised zone to the northeast of Trident by around 250 metres towards the Marwest deposit.
This drilling has continued to close-the-gap between Trident and Marwest from 600 metres to just 250 metres and continues to indicate that Trident and Marwest may form one large high-grade gold system with a strike length of at least 3 kilometres.
Drilling for depth extensions at Trident Deeps extended the down dip extent of mineralisation by 200 metres and confirmed the presence of thick, high-grade gold mineralised zones which have the potential to contribute additional resources to the Trident resource base.
Plan view of the Trident-Marwest area showing collar locations of the latest drilling and pierce points of gold intercepts.
PHB-K1 and Triple-P corridors
At PHB target, 23 RC holes for 5,751 metres and six diamond holes for 1,412.8 metres were completed to test for high-grade extensions of the three key lode structures – Main, Central and West Loads.
Drilling in the PHB corridor also delivered a new, high-grade lode discovery below the K1 open pit, northeast of PHB-1.
Highlights from PHB drilling include:
- 7 metres at 103.6 g/t from 48 metres including 3 metres at 240 g/t and including 1-metre at 691 g/t;
- 3 metres at 19.7 g/t from 126 metres and 8 metres at 4.17 g/t from 110 metres, including 3 metres at 8.69 g/t;
- 15 metres at 6.51 g/t from 118 metres including 5 metres at 12.5 g/t;
- 6 metres at 8.66 g/t including 2 metres at 23.8 g/t from 128 metres;
- 4 metres at 10.9 g/t, including 2 metres at 20.1 g/t, from 161 metres.
Best results at Triple-P include:
- 4 metres at 23.0 g/t from 109 metres including 1-metre at 85.0 g/t;
- 4 metres at 9.48 g/t from 177 metres including 1-metre at 25.0 g/t;
- 4 metres at 6.38 g/t from 164 metres including 2 metres at 10.9 g/t;
- 4 metres at 50.6 g/t from 81 metres including 2 metres at 99.1 g/t including 1-metre at 182 g/t;
- 3 metres at 38.0 g/t from 97 metres including 2 metres at 56.1 g/t including 1-metre at 100.9 g/t; and
- 14 metres at 6.99 g/t from 48 metres including 7 metres at 11.9 g/t including 2 metres at 28.3 g/t.
2021 field season objectives
Vango is compiling all results from the 2020 drilling campaign into the Marymia Project’s resource model in preparation for a major resource upgrade, planned for the first half of this year.
As part of the resource expansion, the next phase of drilling will target around 10 priority open pit targets at Marymia, which are not part of the JORC 2012 resource.
This drilling is planned for the next quarter and is designed to add near-surface resources.
In addition, further extension drilling will also be completed to further extend gold mineralisation at Trident to the northeast towards the Marwest deposit, with the aim of confirming that Trident and Marwest forms one large, contiguous high-grade gold system.
Once it has finalised plans for its 2021 field season, the company will update the market on the details of the next phase of drilling.
Marymia has an established high-grade resource of 1 million ounces at 3 g/t, underpinned by Trident with 410,000 ounces at 8 g/t.