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Vango Mining Limited (VAN.AX) to Commence 2021 Field Season

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Vango Mining Limited (ASX:VAN)
Vango Mining Limited (ASX:VAN)

Vango Mining Limited (VAN.AX) to Commence 2021 Field Season

Sydney, Australia, June 2, 2021 - (ABN Newswire) - Vango Mining Limited (ASX:VAN) is pleased to announce details of its 2021 field season at the Company's flagship Marymia Gold Project (Marymia, the Project) in the Mid-West region of Western Australia (Figure 1*).

Vango is focused on exploring and developing the Marymia Project, and its near-term objective is to expand the Project's high-grade resource base to support its plans to become a significant gold mining and production company.

The Company plans to undertake an extensive Resource expansion drilling campaign in 2021, which will focus on 11 priority open-pit targets, not currently part of the Marymia JORC 2012 resource base. The Company plans to drill a minimum of 15,000 metres in the 2021 field season, and drilling is expected to commence next month.

Drilling will be designed to add significant, near-surface resources amenable to open pit mining as part of any future mining operation at the Marymia Project.

Details of 2021 Drilling Campaign - To define open-pit Resources

Vango plans to complete a minimum of 15,000 metres of reverse circulation (RC) drilling in up to four phases of drilling in its 2021 field season (subject to results).

Drilling will target 11 priority open-pits, and is specifically designed to deliver a substantial (Indicated and Inferred) resource increase to the existing Marymia resource base. It will also enhance the understanding of the mineralised zones within the targeted open pits for the benefit of Vango's mine planning, and for assessing funding requirements for the Company's proposed stand-alone mining operation.

This campaign is also designed to deliver 'critical mass' to increase the mine life of a proposed future mining operation from Marymia's resource base, specifically targeting an increase in total ounces to ensure that mill capacity of any future mining operation is maximised over the Project's total mine life.

The drilling is planned to be conducted on a nominal 20m by 40m drill spacing, which will give appropriate coverage of mineralised zones to determine the tenor of the mineralisation at depth and facilitate the calculation of Indicated and Inferred resources. Drilling is planned to a nominal depth of 160 metres, angled to approximately 60deg, testing to 120 metres vertical below surface.

The 11 open pit targets have been rated and ranked in order of priority, based on historic gold inventory and a review of historic drilling, and the proposed drillholes at each target have been designed.

The 11 open pits to be targeted are; Apollo, Exocet, Ibis, Kookaburra, Parrot, Pigeon, Prickleys, Redfin, Rosella, Skyhawk and Speckled are shown on Figure 1*. The Skyhawk, Parrot and Apollo open pits have been assessed as the highest priority targets, and the first phase of drilling is planned to commence at these targets.

The drilling has been designed with the flexibility to focus on specific targets dependent on results. Similarly, the progression of the drilling campaign through all four phases of planned drilling will also be dictated by results of the previous phases of drilling.

Trident-Marwest Corridor

Drilling will also be undertaken at the north-eastern section of the Trident Deposit, the 'Crown Jewels' of the Marymia Project, in the 2021 drilling campaign.

This targeted drilling will be designed to identify further-high grade extensions of the area between the north-eastern sector of Trident and the southern extent of the Marwest target.

Background to 2021 Field Season

Vango completed an extensive 20,000 metre reverse circulation (RC) and diamond drilling drill campaign in 2020, and all results from this campaign have been released to the market. The program focused on priority targets at the Trident gold corridor and PHB gold corridor at Marymia.

Vango has compiled all results from the 2020 drilling campaign into the Marymia Project's resource model, and has completed an extensive geological review and modelling of the Marymia Project. The results of this work have formed the basis of Vango's 2021 field season, focusing on open-pit targets designed to add significant, near-surface resources to the existing Marymia JORC resource base.

The Company plans to release an updated and expanded JORC 2012 resource for the Marymia Project, including results from the 2020 and 2021 drilling campaigns, in the second half of calendar 2021.

The Marymia Project's current JORC 2012 resource is 10.38Mt @ 3.0 g/t Au for 1.02Moz Gold, announced on 20 May 2020.

Ned's Creek Joint Venture with Lodestar Minerals

Vango, in conjunction with its Farm-in Joint Venture partner Lodestar Minerals (ASX:LSR), has commenced an aero magnetic survey and ground magnetic survey to close existing gaps in Lodestar's data base. Upon completion of the surveys, Vango plans to finalise drilling plans for the Ned's Creek and Contessa targets at the JV project area, for the next phase of drilling which is expected to commence next month.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/GCG83E58


About Vango Mining Ltd:


Vango Mining Limited (ASX:VAN) is an exploration mining company with ambitions of becoming a high-grade WA gold miner by developing the 100% owned Marymia Gold Project (Marymia) located in the mid-west region of Western Australia, consisting of 45 granted mining leases over 300km2.

Marymia has an established high-grade resource of 1Moz @ 3 g/t Au, underpinned by Trident - 410koz @ 8 g/t Au, with immediate extensions open at depth/along strike.

Contact:

Bruce McInnes Chairman
info@vangomining.com
+61 418 183 466

James Moses Investor Relations
james@mandatecorporate.com.au
+61 420 991 574

Source:
Vango Mining Ltd

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