Vango Mining Limited (ASX: VAN) has intersected exceptional “Bonanza” gold intersections from a new, very high‐grade, gold zone at the Albatross‐Flamingo target, at its 100%‐owned Marymia Gold Project in the Mid‐West region of Western Australia.
These exceptional gold intersections are from drill hole VAFRC0001, the first of 11 completed, wide‐spaced, reverse circulation (RC) drillholes for 1,852 metres below the Albatross and Flamingo historical open‐pits and include:
- 4m @ 50.6 g/t Au from 81m including 2m @ 99.1 g/t Au including 1m @ 182 g/t Au;
- 3m @ 38.0 g/t Au from 97m including 2m @ 56.1 g/t Au including 1m @ 100.9 g/t Au within a wider combined zone (with internal waste) of 19m @ 16.8 g/t Au from 81m; and
- 12m @ 2.46 g/t Au from 56m including 4m @ 4.62 g/t Au
Executive Chairman Bruce McInnes said the exceptionally high‐grade nature of these results, at relatively shallow depths, provide a strong indicator of the open‐pit potential of Albatross‐Flamingo, which Vango will now assess as a priority in its ongoing mine planning.
Mr McInness said the ability to mine via open‐pit has the potential to deliver substantial cost savings relative to an underground operation in any potential future gold mining operation at Albatross‐Flamingo.
The exceptionally high‐grade intersections in VAFRC0001 are associated with quartz‐sulphide mineralisation in thrusted mafic rocks, close to the contact with the overlying sedimentary rocks that host the bulk of the gold mineralisation previously mined in the shallow Albatross and Flamingo open pits above.
These mafic host rocks may be a repeat of the thrusted Mine‐Mafics that host the Triple‐P and Zone‐B high‐grade gold mineralisation 1km to the north‐east and are interpreted to have been periodically thrusted to a shallower position by steeply dipping and mineralised fault structures across a >3km zone from Triple‐P to the Exocet pit.
Mr McInnes said his wider target zone is referred to as “Vulcan” and has similar dimensions (>3km x >1km) to the Plutonic gold deposit located immediately south of the Marymia Project, which has produced more than 5.5Moz of gold.
He said vulcan will be a priority drilling target for Vango in 2020.