Vango Mining Limited

Level 35, Tower 1, 

Suites 3542-3544 

Barangaroo International Towers

100 Barangaroo Avenue

Sydney NSW 2000

AUSTRALIA

Enquiries: +61 2 8114 4533 

E-mail: info@vangomining.com

 

Accounts: +61 2 8114 4588

or +61 2 8046 6972

E-mail: accounts@vangomining.com

© 2016-2019 by Vango Mining Limited. 

  • Facebook

Vango is a rare find among gold juniors

Review by Trevor Hoey - published 27 November 2019 in Mining

https://finfeed.com/small-caps/mining/vango-rare-find-among-gold-juniors/

Results of Annual General Meeting

In accordance with ASX Listing Rule 3.13.2 and section 251AA(2) of the Corporations Act 2001, Vango Mining Limited advises that results of the Company’s annual general meeting held Friday 29 November 2019, with the proxies received in respect of each resolution, are set out in the following proxy summary.

For and on behalf of the Board.

Yours sincerely, Ian Morgan Company Secretary.

For more information, see ASX Announcement.

 

Strategic Partnership Agreement with China Non-Ferrous (NFC) for financing and development of Marymia Gold Project 

 

Agreement outlines framework for $70M Project financing & EPC Contract.

Vango Mining Limited is pleased to announce it has entered into a Strategic Partnership Framework Agreement (Agreement) with China Nonferrous Metal Industry’s Foreign Engineering and Construction Co Ltd (NFC) in relation to the financing and development of Vango’s 100%-owned Marymia Gold Project in the Mid-West region of Western Australia.

The Agreement represents a non-binding Term Sheet which outlines the framework under which NFC proposes to provide project financing currently estimated at AUD$70 million and an Engineering, Procurement and Construction (EPC) contract to Vango to facilitate the development of the Marymia Project into a significant, high-grade, standalone gold mining operation.

This Agreement is a significant milestone in the development pathway of the Marymia Project, and represents the formal starting point in the Company’s relationship with NFC for the financing and development of the Project. 

Under the terms of the Agreement, NFC will assign a work team to the Marymia Project site within 30 days of signing the Agreement to carry-out a site inspection and to assess the scope of work to be undertaken.​ 

For more information, see: ASX Announcement.

New shallow high-grade gold intersection at Mars 

Intersections further enhance Trident-Marwest-Mareast resource expansion potential. New, thick, high-grade and shallow gold intersections from the Mars deposit, including:

  • 15 metres at 4.15 grams of gold per tonne from 34 metres including 9 metres at 6.62 grams of gold per tonne including 1 metre at 17.9 grams of gold per tonne in VMWRC0013;

  • 8 metres at 4.40 grams of gold per tonne from 68 metres including 6 metres at 5.60 grams of gold per tonne including 2 metres at 13.8 grams of gold per tonne in VMWRC0011;

  • 16 metres at 2.06 grams of gold per tonne from 21 metres including 6 metres at 3.62 grams of gold per tonne in VMWRC0015.

 

The new Mars intersections extend this high-grade zone to the southwest, potentially linking with the Marwest deposit and Trident, 2km to the southwest. Drilling continues and is designed to extend and further define the high-grade gold resource base at Marymia to support the proposed, significant, stand-alone high-grade gold operation. 

For more information, see: ASX Announcement.

New Managing Director

... appointed to drive Vango Mining's development and growth strategy. 
For more information, see: ASX Announcement.  

Vango Mining raises funds to accelerate Marymia Gold Project  

For more information, see: ASX Announcement.

Further exceptional high-grade gold intersection at Mareast 

Highlights high-grade extension potential of Trident-Marwest-Mareast corridor. Exceptional, new, thick and high-grade intersection down-plunge of the Mareast deposit:

  • 10 metres at 22.6 grams of gold per tonne from 50 metres including 6 metres at 33.3 grams of gold per tonne (> 1 Ounce per tonne) in VMERC0025.

 

New intersection is at shallow depth below east-end of Mareast pit, open down plunge with potential to define a high-grade shoot for open pit cut-back and underground mining potential. This latest finding highlights larger scale high-grade discovery potential within the 5km corridor from Trident to Marwest to Mareast, where the Mine Mafic is exposed. Drilling is ongoing and is designed to extend and further define the very-high grade gold resource base at Marymia to support a significant, stand-alone, high-grade gold mining operation. 

For more information, see: ASX Announcement.

Excellent metallurgy for Triple-P high-grade drilling results 

Results enhance high‐grade gold resource targets, with drilling ongoing:
  • Metallurgical leach recoveries of greater than 97% for high‐gold, low sulphide mineralisation

  • Significant increase to high‐sulphide gold recoveries, with further improvements targeted

  • Zone B delivered a high gravity gold recovery and very high overall leach recovery, highlighting the potential for low cost processing in a future mining operation

  • Additional test work is planned to examine options to further increase gold recoveries

  • Drilling is ongoing now testing extensions to the Triple‐P and Zone‐B high‐grade gold zones, that

    may extend over 1km, a similar strike length to the high‐grade Trident gold resource

For more information, see: ASX Announcement.

Chairman's update to shareholders

CLICK ON THE LINK

Drilling commenced targeting new high-grade gold resources

CLICK ON THE LINK

Next stage of major drilling programme commenced, testing three key high-grade resource targets:

Triple P - Zone B: recent intersections include 4 metres at 9.48 grams of gold per tonne including 1 metre at 25.0 rams of gold per tonne.

Albatross-Flamingo, where previous drilling intersected high-grade gold in mafic rocks.

Marwest - Mars: recent intersections include 9 metres at 12.7 grams of gold per tonne including 7 metres at 15.6 grams of gold per tonne.

 

Drilling to extend and scope these new high-grade gold discoveries, to be followed by resource definition drilling, targeting a major high-grade resource increase at the Marymia Gold Project

Drilling to also advance larger scale targeting, including for repeats of the high-grade, Mine-Mafic hosted, gold mineralisation to the west of Triple P at Albatros-Flamingo.

 

This phase of drilling is designed to test three key high-grade resource targets: Triple P - Zone-B and Albatross-Flamingo in the Triple P area, and Marwest - Mars in the Trident-Marwest-Mareast Corridor.

Drilling is underway and planned to include 35 reverse circulation (RC) holes for a total of approximately 5,300 metres. This phase of drilling (Stage 1) is aimed at extending and defining the above-mentioned key high-grade discoveries prior to progressing to detailed resource definition drilling (Stage 2).

Twelve holes will further test the Triple P - Zone B high-grade resource target, aiming to further define and extend this potentially significant new gold discovery at depth and along strike to the north. 

For more information, see: ASX Announcement.

Vango Mining Limited was very pleased to host senior representatives from China Nonferrous Metal Industry's Foreign Engineering and Construction Company Limited (NFC) at our Sydney Offices. 

 
During the visit, Vango Mining's Board of Directors and NFC were able to:

 

  1. Review the decade-long relationship between the two companies;

  2. Re-establish communication channels between the companies;

  3. Discuss the current state of the joint venture SARCO Bauxite Project;

  4. Discuss Vango Mining’s Marymia Gold Project; and

  5. Discuss opportunities to build a stronger relationship between the companies including but not limited to SARCO and the Marymia Gold Project.

 

Vango Mining's Executive Chairman, Bruce McInnes said that he sees great benefit in exploring how we might connect NFC’s strong engineering, equipment supply and financing capability with Vango’s world class Marymia Gold Project. NFC has extended an invitation to Vango Mining's management team. Consequently, Vango Mining's Managing Director, Sean Zhou recently visited NFC’s Beijing Head Office.