Gold: Vango rocks out with 691g/t hit at Marymia
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Shares in Vango Mining (ASX:VAN) have climbed 10 per cent this morning after the company trotted out an exceptionally high-grade gold intersection of 1m at 691 grams per tonne (g/t) gold at its advanced Marymia project near Meekatharra, Western Australia.
This intersection is within a broader zone of 7m at 103.6g/t gold from 48m. The same hole also includes a deeper interval of 4m at 11.8g/t gold from 134m.
Results of 5g/t or more are generally considered to be high grade.
Vango noted that this top intersection was from the newly discovered Eastern Lode that was open in all directions including down-plunge to the northeast.
Further results are pending from this key new area which the company says represents a potential high-grade resource that could be included in the planned resource upgrade for the project.
Vango is also planning further drilling to define the potential extent of this high-grade lode structure.
Ora Banda Mining’s (ASX:OBM) resource definition drilling at the Callion project in Western Australia’s North Eastern Goldfields region continues to return high-grade results.
Top results from underground drilling include 8m at 20.2g/t gold from 118m, 8m at 16.4g/t gold from 139m and 10m at 3.5g/t gold from 158m.
Open pit drilling also returned results of 2m at 6.95g/t gold from 109m and 7m at 1.7g/t gold from 102m including 3m at 3.34g/t gold.
The company’s development plan for Callion includes the use of an open pit cut back to re-establish underground access, rehabilitating the existing underground mine development to extract a number of high-grade zones that remain within the upper sections of the historical mine.
This will be followed by the development and mining of new high-grade areas below the existing mine workings.
Shares in Ora Banda rose 9.7 per cent this morning on the news.