Gold: Bonanza grades highlight open pit potential for Vango deposit
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Vango Mining (ASX:VAN) has kicked off the new year in style with bonanza gold grades returned from the first drillhole at the Albatross‐Flamingo target within its Marymia gold project in Western Australia’s Mid-West region.
The first hole below the Albatross‐Flamingo returned a top intersection of 1m at 182 grams per tonne (g/t) gold within a broader intersection of 4m at 50.6g/t gold from a depth of 81m.
It also intersected a deeper zone of 1m at 100.9g/t gold within a 3m at 38g/t intersection from a depth of 97m.
To put that in perspective, a mineable deposit above 5g/t can be considered high-grade.
Vango said the shallow intersections highlighted the open-pit potential at Albatross‐Flamingo.
The company also noted that the results formed part of the greater Vulcan target that continued from Triple-P to the Exocet pit, making up a 3km strike length that was largely untested at depth.
Vulcan has similar dimensions to the Plutonic gold deposit to the south that has produced more than 5.5 million ounces of gold.
Results from the remaining 10 holes at Albatross‐Flamingo are pending.
Previous drilling at the Mars prospect returned results of up to 15m at 4.15g/t gold from 34m, which Vango said underscored the project’s resource expansion potential.
Shares climbed as much as 13.8 per cent in early trading.
Jadar Lithium (ASX:JDR) has completed its acquisition of the Yanamina gold project in Peru. Yanamina has an existing resource of more than 200,000 ounces of gold and has significant upside through potential depth and lateral extensions, according to Jadar.