Vango Mining’s drilling program returns final high-grade gold results at Trident
Vango Mining has struck more high-grade gold at its Trident deposit, part of the Plutonic Dome project in WA.
Vango Mining (ASX: VAN) has reported high-grade results in the final three holes of a major resource drilling program at the Trident deposit within its 100%-owned Plutonic Dome gold project in Western Australia’s mid-west.
The results include high‐grade gold intersections which have extended the gold zone at Trident down‐dip, and along strike.
Vango followed up the intersection with deeper step-out drilling activities at Trident to locate a repeat of the high-grades associated with flexures or ramps in the shear-zone hosted deposit.
Better results in the final three intersections were: 8.8m at 6.1 grams per tonne gold from 144m, including 3m at 9.8g/t gold; 3.3m at 6.7g/t gold from 211.7m including 1.3m at 15.3g/t gold; and 3.3m at 6.7g/t gold from 211.7m, including 1.3m at 15.3g/t gold.
Pre-development activities at K2 mine
These latest assays continue a good run of results from Vango’s largest and most significant drilling and pre-development program to date, which kicked off in March with 40 reverse circulation and diamond drill holes over 9,100m.
The program also comprised drilling two dewatering bores and installation of pumps into the lower part of the decline and open pit at the company’s K2 gold mine, in the north-eastern extent of the Plutonic Dome project.
Results from the drilling program will form the basis of a resource upgrade at Trident and underpin the start of a scoping study into a standalone gold mining and processing operation at Plutonic Dome.
The plant will be designed to process a base case of high‐grade resources from Trident and K2, targeting a processing rate of 250,000 tonnes per annum and recovering up to 50,000 ounces per annum of gold over an initial five-year period.
A definitive feasibility study update on K2 was published in February 2017 and included 54,000oz gold at an average grade of 6.9g/t.
Trident hosts a JORC 2004 resource of 2.21Mt grading 5.3g/t gold for 378,600oz of contained gold, which Vango aims to convert to JORC 2012 status.
By late afternoon trade, Vango’s share price had increased 15.78% to A$0.22.