PHB-1 is situated to the northeast of the K2 open-pit. The new intersections are from Reverse Circulation (RC) drilling targeting a shallow northerly plunging extension of the Main and Central Lodes that were mined previously in the historical open-pit.
Drilling program underway with 20,000m Stage 1 program at PHB and Trident corridors, including over 7,000m of diamond drilling. Two rigs are testing three high-grade lode extensions at PHB-1 (Figures 1 and 2), where intersections of up to 7 metres at 103.6 grams of gold per tonne from 48m1 have recently been produced.
High-grade gold intersections from PHB-1 prospect highlight potential for shallow plunging mineralisation to the north of previously mined open pit. Significant results include:
3 metres at 19.7 grams of gold per tonne from 126 metres and 8 metres at 4.17 grams of gold per tonne from 110 metres, including 3 metres at 8.69 grams of gold per tonne in VK2RC0009.
15 metres at 6.51 grams of gold per tonne from 118 metres, including 5 metres at 12.5 grams of gold per tonne in VK2RC0010a.
Further drill results from PHB-1 are pending and additional drilling is planned to define and extend potential high-grade mineralisation open to the north and at depth
RC drillholes VK2RC0009 and VK2RC0010a produced high-grade intersections from targeted extensions of the Main Lode structure, based on the new, shallow plunge, interpretation of the gold mineralised zones, Significant intersections include:
2 metres at 5.08 grams of gold per tonne from 104 metres;
8 metres at 4.17 grams of gold per tonne from 110 metres, including 3 metres at 8.69 grams of gold per tonne; and
3 metres at 19.7 grams of gold per tonne from 126 metres, including 1 metre at 51 grams of gold per tonne in VK2RC0009.
15 metres at 6.51 grams of gold per tonne from 118 metres, including 5 metres at 12.53 grams of gold per tonne in VK2RC0010a.
1 metre at 12.49 grams of gold per tonne from 109 metres in VK2RC0012.
3 metres at 4.74 grams of gold per tonne from 153 metres, including 2 metres at 6.16 grams of gold per tonne in VK2RC0013.
These new results follow the recent exceptional intersection in the Eastern Lode at PHB-1 of:
7 metres at 103.6 grams of gold per tonne from drillhole VK2RC0007.
These intersections at the PHB-1 prospect, come from an area where very few drillholes have tested projected extensions of the Main Lode, Central Lode and Eastern Lode structures, including below and along strike from the 7 metres at 103.6 grams of gold per tonne intersection from drillhole VK2RC0007.
Vango Mining Limited is currently planning further drilling to extend and define these new projected high- grade gold lode extensions and further information regarding the extent and timing of this exciting new programme will be provided in due course.
A third round of drilling results from this area are expected shortly and will be reported in due course with proposals for new drilling to define new open pit and underground resources in this area. The latest intersections will be incorporated into new interpretations of key lode structures, prior to incorporation into the planned Marymia Gold Project resource upgrade.
PHB-1 VHBRCOO10 RC drillhole in progress at Marymia.