Vango Mining Ltd (ASX:VAN) has been granted a trading halt by the ASX with an announcement pending in regard to proposed fund raising.
The halt will remain in place until the beginning of regular trade on Tuesday, June 15, or when an announcement is released to the market, whichever occurs earliest.
Extensive 2021 field season
Vango is undertaking extensive fieldwork during the 2021 season at Marymia Gold Project in the Mid-West region of Western Australia which will include a large resource expansion drilling campaign beginning this month.
The company will drill a minimum of 15,000 metres focusing on 11 priority open-pit targets that are not currently part of the project’s resource base.
This reverse circulation (RC) program is designed to add near-surface resources amenable to open-pit mining as part of any future mining operation at the project.
Expanding resource base
The company’s near-term objective is to expand the Marymia project’s high-grade resource base to support its plans to become a large gold mining and production company.
Vango expects to release an updated and expanded JORC 2012 resource for the Marymia Project, which currently sits at 10.38 million tonnes at 3 g/t gold for 1.02 million ounces, in the second half of 2021.