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VANGO MINING LIMITED

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BROAD AND HIGH-GRADE GOLD INTERSECTIONS AT CINNAMON

HIGH-GRADE GOLD

ASX Announcement 13 September 2018

HIGHLIGHTS 

  • High Grade gold results have been received from two initial diamond drill-holes completed at the Cinnamon gold deposit 
  • Drilling has enhanced the potential of Cinnamon as a near-term development asset at Vango’s Plutonic Dome Gold Project (Marymia) in the Mid-West region of WA 
  • Highlight results include: 

VBGRCD0001: 

  • 10m @ 2.69 g/t Au from 106m including 0.9m @ 10.31 g/t Au & 2m @ 8.5 g/t Au, and, 
  • 5m @ 3.03 g/t Au from 128m including 2m @ 5.64 g/t Au, and, 
  • 2m @ 20.78 g/t Au from 164m and, 
  • 4m @ 3.14 g/t from 179m including 2m @ 5.35 g/t Au from 180m. 

VBGRCD0002: 

  • 19m @ 3.04 g/t Au from 74m including 10m @ 4.06 g/t Au. 
  • Wide intervals of shearing, alteration & elevated gold in both holes indicate a large mineralised system with potential for extensions and repeats of Cinnamon’s gold mineralised zones.

Gold exploration and development company, Vango Mining Limited (ASX:VAN), today announces broad, high-grade, gold intersections from its initial drilling programme at the Cinnamon gold deposit, at the 100%‐owned Plutonic Dome Gold Project (“Plutonic Dome”) in the Mid-West region of Western Australia (See inset Figure 1 for location and Figure 5 for Plutonic Dome geology).

This initial diamond drilling programme was designed to test and extend existing gold mineralised zones and provide geological information to characterise and identify the potential controls on the mineralised system. This initial programme of two diamond drill-holes, for 600m of drilling, was completed early this month.

The diamond drilling has successfully confirmed the high-grade mineralisation at Cinnamon that extends for 2.4km to the northeast in the direction of the Cobalt prospect. Significant gold has been identified at the Cinnamon, Budgie and Cobalt prospects along this 2.4km strike (see Figure 1). Further drilling is planned to better define and extend the Cinnamon gold mineralised zones and target further discoveries along the strike of the conglomerate, and to further enhance Cinnamon’s potential as a near-term development asset.

Key gold intersections produced from these initial two diamond drill-holes at Cinnamon include: 

VBGRCD0001 (see cross section Figure 3): 

  • 10m @ 2.69 g/t Au from 106m including 0.9m @ 10.31 g/t Au & 2m @ 8.5 g/t Au from 114m, 
  • 5m @ 3.03 g/t Au from 128m including 2m @ 5.64 g/t Au from 131m, 
  • 2m @ 20.78 g/t Au including 1m @ 38.8 g/t Au from 164m, and, 
  • 4m @ 3.14 g/t from 179m including 2m @ 5.35 g/t Au from 180m. 

VBGRCD0002 (see cross section Figure 4): 

  • 19m @ 3.04 g/t Au from 74m including 10m @ 4.06 g/t Au from 79m.

Drill-hole VBGRCD0001 intersected several, separate, mineralisation zones including an upper intersection of 10m @ 2.69 g/t Au, that contains a post-mineralisation dolerite intrusive which has likely reduced the average grade of this zone, and a lower zone that includes two intersections separated by subgrade material of 2m @ 20.78 g/t Au from 164m and 4m @ 3.14 g/t Au from 179m.

Drill-hole VBGRCD0002 produced a broad and high-grade gold intersection from the upper zone, of 19m @ 3.04 g/t Au from 74m incl. 10m @ 4.06 g/t Au, and several gold anomalous zones deeper in the hole (Table 2). The gold mineralisation is associated with shearing within the chlorite-biotite altered matrix of a conglomerate unit. The conglomerate mostly consists of granodioritic clasts within the mafic dominant matrix.

These two diamond drill-holes have confirmed the general location of higher gold-grades as previously indicated by reverse circulation (RC) drilling in oxide-transition and fresh material.

The drilling also confirms the presence of high-grade shoots of gold mineralisation within a lowergrade envelope in both the upper and lower zones. The mineralised structures appear to be more steeply dipping in the primary zone than previously interpreted from RC drilling (see cross sections Figures 3 and 4).

Click here to view the full announcement

HIGH‐GRADE GOLD INTERSECTIONS EXTEND TRIDENT TO 500M WEST OF MAIN DRILLING AREA

ASX Announcement 15 August 2018 

Highlights discovery potential for a 2nd high‐grade gold system at Trident

HIGHLIGHTS 

  • Further high‐grade gold intersections from the Trident gold deposit, including: 
    • VTRRCD0028: 3.5m @ 10.9 g/t Au from 349m incl. 1.5m @ 22.1g/t Au from 350m 
    • VTRDD0030: 2m @ 4.9 g/t Au from 37m & 3.4m @ 3.4g/t from 68.6m incl. 1m @ 7.2g/t Au 
    • VTRRC0031: 6m @ 3.7g/t Au from 56m incl. 1m @ 16.2g/t Au from 57m 
  • Intersection in hole VTRRCD0028 confirms high‐grade gold mineralisation at Trident now extends at least 500m to the west (down‐dip) of the Deposit’s drill‐defined high‐grade zone 
  • Biotite alteration & trace gold in VTRRCD0029 confirms mineralised system to 1000m down dip from surface – indicating potential for deep extensions of the Trident gold mineralised system

Gold exploration and development company Vango Mining Limited (ASX: VAN) announces high‐grade, gold intersections from its recently completed extension drilling programme at the Trident gold deposit, at the 100%‐owned Plutonic Dome Gold Project (“Plutonic Dome”) in the Mid‐West region of Western Australia (See Figure 1 for Plutonic Dome location and geology).

The programme was designed to test the deeper parts of the Trident mineralisation system, as well as further defining the near surface oxide material on the western side of the deposit.  Drilling has been highly successful and has intersected high‐grade gold mineralisation at a distance of 500m (down dip from surface) to the west of Trident’s high‐grade drill‐defined mineralised core, and indicates that a second high‐grade gold system may have been discovered.

Results have been received for three diamond holes and four reverse circulation drill‐holes.    The highlight of the programme is the intersection of:

  • 3.5m @ 10.9 g/t Au from 349m including 1.5m @ 22.1g/t Au from 350m in VTRRCD0028.

Drill hole VTRRCD0028 is the deepest of two deeper holes (on section 280mE) at Trident, which both intersected the mineralised Trident ultramafic approximately 400m (500m down dip from surface) west of Vango’s current high‐grade drill‐defined area at Trident, and it has substantially extended the Deposit’s high‐grade gold mineralisation system.  VTRRCD0028 was drilled down‐dip from a previous high‐grade intersection of; 5.57m @ 5.2 g/t Au from 305m including 1.57m @ 12.6 g/t Au and 5.9m @ 5.0 g/t Au from 326.1m incl. 2.0m @ 9.3 g/t Au (drill hole DTRRCD0009 drilled by Dampier Gold in 2011). See cross section, Figure 2.

Other significant results were received from drilling of the near‐surface, western, projection of the Trident deposit (see Figure 1), including the following intersections:

  • 2m @ 4.9 g/t Au from 37m, 5m @1.0g/t Au from 44m and 3.4m @ 3.4g/t from 68.6m including 1m @ 7.2g/t Au in VTRDD0030 
  • 6m @ 3.7g/t Au from 56m including 1m @ 16.2g/t Au, 6m @ 1.9g/t Au from 24m including 2m @ 3.2g/t Au and 5m @ 2.7g/t Au from 46m including 2m @ 4.9g/t Au in VTRRC0032 
  • 4m @ 1.1g/t Au from 43m and 2m @ 2.2g/t Au from 58m in VTRRC0033, and,   
  • 2m @ 1.4g/t Au from 24m in VTRRC0034

In addition, a very deep hole, (VTRRCD0029), tested the system to around 1000m (down dip) to the west of the high‐grade gold mineralised core at Trident and showed the alteration system extending strongly with a 12m wide zone of biotite alteration.  This has now been confirmed to be geochemically consistent with the upper parts of the deposit with strong anomalism in potassium, tungsten and molybdenum which are all introduced by the mineralising fluid.  Gold assays were low in this hole, but significant potential remains for gold mineralisation to extend to these very deep extensions of the Trident system.  

Click here to view the full announcement

EXTENSIONAL DRILLING TRIPLES SIZE OF TRIDENT GOLD TARGET

ASX Announcement 7 August 2018

HIGHLIGHTS 

  • Extensional drilling intersects a 12m thick zone of mineralised ultramafic of the Trident Deposit at a distance of 1km (down-dip) west of the drill-defined high-grade zone at Trident 
  • Two further extensional holes drilled ~500m (down-dip) west of the Trident high-grade core also intersect targeted ultramafic zone 
  • Together, these Intersections confirm that the Trident mineralised system now extends at least 1km in length - and have effectively tripled the size of the target zone at Trident 
  • Maiden two diamond-core drillhole program completed at Cinnamon Prospect and drilling underway at Apex Prospect - assay results for all drilling will be released when available

Gold exploration and development company Vango Mining Limited (ASX:VAN) is pleased to provide an update on the progress of its extensional drilling at its flagship, high-grade, Trident gold deposit at the Plutonic Dome Project, in the Mid-West region of Western Australia (see Figure 3 Project location map).

Vango is currently undertaking a deeper, extensional drilling program at Trident, designed to test for repetitions at depth plus extensions to the west, of the deposit’s very high-grade gold mineralised core (ASX announcement, 11 July 2018).

This drilling has intersected a 12 metre thick zone of the mineralised ultramafic rocks that host the Trident deposit from ~600 metres below surface (in drillhole VTRRCD0029), approximately 750 metres (and 1km down-dip from surface) west of the current very high-grade drill-defined core at Trident. This confirms that the mineralised system now extends to at least 1km in (down-dip) length, effectively tripling the size of the targeted zone at Trident (see Figure 1 and cross section Figure 2).

Background to Extensional Drilling at Trident 

Previous drilling in the western part of the Trident deposit intersected a wide zone of high-grade gold mineralisation including; 5.57m @ 5.2g/t Au from 305m including 1.57 @ 12.6 g/t Au and 5.9m @ 5.0 g/t Au from 326.1m including 2m @ 9.3 g/t Au (hole DTRRCD009 drilled by Dampier Gold in 2011) approximately 400 metres west of Vango’s current high-grade drill-defined area at Trident.

To further test the western extent of the Trident deposit for potential extensions and continuity of gold mineralisation, Vango has completed three deeper pre-collared diamond holes in the current program.

Drillhole VTRRCD0029 was drilled approximately 750 metres (and 1km down-dip) west of the current drill-defined area, and has successfully intersected a 12 metre thick zone (from 591 metres to 603 metres down-hole) of the mineralised ultramafic rocks that host the Trident deposit.

The two other deeper holes (VTRRCD0028 and VTRRCD0036) were completed either side of the previous Dampier Gold drillhole (DTRRCD009). These holes have also successfully intersected the targeted ultramafic zone. Together, these intersections of the mineralised ultramafic zones confirm that the mineralised horizon at Trident now extends over a distance of at least 1km (down dip) to the west, from surface under the shallow dipping, overthrust, granite gneiss (see Figure 1 and cross section Figure 2).

A further five drillholes, including one diamond hole, also tested the western, up-plunge projection of the high-grade mineralisation at Trident (see Figure 1), in order to further define the mineralisation and extend the resource prior to evaluation of this area as a potential box-cut access point for a decline to the very-high grade core of the Trident gold deposit.

Selected samples from the Trident drilling are being processed and results will be reported in due course. No results have been received from these holes to date.

Click here to view the full announcement 


BRUCE MCINNES

Executive Chairman

Bachelor of Commerce (Accounting) – University of New South Wales

Experienced and successful executive, whose business interests encompass the mining, finance, accounting and agricultural sectors.

Mr McInnes was instrumental in acquiring 100% of the Plutonic Dome Gold Project, building the executive and consulting team and overseeing the growth of the company from an undiluted enterprise value of $1.3m to a current capitalisation in the order of $95.09m.

Email: [email protected]


SEAN ZHOU

Managing Director

Bachelor of Commerce (Accounting) – University of Sydney

Masters in Project Management – University of Sydney

Mr Zhou’s insights are invaluable to the Company as it moves towards production.

He has expertise in the perplexing subjects in funds management, project management, and investment banking with a particular focus on infrastructure investment in Asia Pacific Region.

Email: [email protected]


CAROL ZHANG

Non-Executive Director

PhD in Management, Science and Engineering – Tianjin University, China

An Associate Professor of science and technology who lectures in logistic management, Dr Zhang brings to Vango Mining a broad range of experience in management and logistics.

She is of great benefit to the Board as the Company moves towards being a major gold producer.

Email: [email protected]


PETER HEPBURN-BROWN

Project Manager

Bachelor of Applied Science (BASc) Mining and Mineral Engineering - Western Australia School of Mines

Graduate Diploma (Human Resources Management) - Monash University

Highly experienced mining engineer with more than 35 years in the mining industry, in operational and executive roles.

Specific expertise in the gold sector, and was previously Managing Director of Philippines-focused gold miner Medusa Mining, and Managing Director of gold exploration company Alloy Resources.  Mr Hepburn-Brown has also senior operations management roles with gold mining companies such as Harmony Gold Australia, Siberia Mining Corporation and Great Central Mines.

Email: [email protected]


JON DUGDALE FAusIMM

Chief Consulting Geologist

B.Sc Hons H1, Geology, First Class Honours - University of Melbourne

Fellow of the Australian Institute of Mining and Metallurgy

A geologist with more than 30 years' background and a strong track record of exploration discovery during his 20-year hands-on roles with WMC Resources and MPI Mines.

Mr Dugdale was instrumental in the >1 million ounce Golden Gift discovery at Stawell in Western Victoria, for which he jointly received the Joe Harms Medal for "distinguished excellence in mineral exploration and contribution to the discovery of ore deposits". Vango Mining's Chief Consulting Geologist also has 10 years corporate sector experience as a resourcesanalyst and investment manager with ASX-listed Lion Selection Group and as Managing Director of ASX-listed resources company's Mindoro Resources Ltd and Red Mountain Mining Ltd.  Mr Dugdale is currently Managing Director of ASX-listed Peninsula Mines Ltd.

Email: [email protected]


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