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Corporate Spotlight

A mineral resources company focused on the exploration and development of its 100% owned Plutonic Dome Gold Project in the Mid-West region of Western Australia. It plans to systematically develop the Project's assets into long term gold mining operation.
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Vango Enters Option to JV Ned’s Creek High‐Grade Gold Project 

ASX Announcement 1 may 2019 

  • Option to Farm‐in and earn 51% of Lodestar Minerals’ Ned’s Creek Project, with potential to earn up to 80% 
  • Previous high‐grade gold intersections at Ned’s Creek including 4m @ 78 g/t Au from 140m, with 2m @ 139.5 g/t Au (Lodestar ASX release 12th June 2018) to be assessed for resource delineation potential, to further strengthen Vango’s regional resource base 
  • Opportunity to effectively double Vango’stenement holding in the Marymia district and build a world‐class gold project at the Marymia and Ned’s Creek project areas

Gold exploration and development company Vango Mining Limited (“Vango” or “the Company”) is pleased to announce that it has entered into a binding terms sheet (“Terms Sheet”) with Lodestar Minerals Limited (ASX: LSR, “Lodestar”), whereby Vango has the option to earn a 51% interest in Lodestar’s Ned’s Creek Project (“Ned’s Creek” or “the Project”).  

The Ned’s Creek Project adjoins Vango’s 100%‐owned Marymia Gold Project, 300km northeast of Meekatharra in the Mid‐West region of Western Australia (see location Figure 1).  The exercise of the option described in the Terms Sheet (“the Option”) would effectively double the Company’s strategic landholding, and consolidate its position as the dominant explorer‐developer in the region.  

Ned’s Creek is considered by the Company a highly prospective project area.  Previous exploration at Ned’s Creek by Lodestar has delivered multiple intersections of very high‐grade gold mineralisation, including at the Contessa discovery, where drillhole LNRC026 intersected 4m @ 78 g/t Au from 140m, including 2m @ 139.5 g/t Au (Lodestar ASX release 12th June 2018, see Figure 2 and individual assays, Table 1).

Under the Terms Sheet, Vango will pay a $300,000 Option fee, comprising $250,000 in Vango shares and $50,000 cash in order to secure an exclusive, four‐month Option to Farm‐in and form a Joint Venture (“JV”) with Lodestar at Ned’s Creek. 

Vango will pay Lodestar a further $200,000 payable in Vango shares(for a total Option fee of $500,000) at such time that it exercises the Option to enter into a Farm‐In and JV agreement to earn a 51% interest in the Ned’s Creek tenements by expending $5 million on exploration over a three‐year period, at a minimum expenditure rate of $1 million per year.

Upon Vango earning 51%, should Lodestar elect not to form a contributing JV at that stage, Lodestar may revert to a 20% “free carried” interest. 

Lodestar and Vango will now prepare a Heads of Agreement to formalise the Farm‐in and JV arrangements when Vango exercises the Option.

Figure 1: Ned’s Creek Tenements adjacent to Vango’s Marymia Gold Project 

Figure 2 Plan view of Contessa drilling showing LNR026 location and intersection 

Click here to view the full announcement


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ASX Announcement 30 April 2019 

Gold exploration and development company Vango Mining Limited (ASX: VAN) (“Vango”, “the Company”) is pleased to present its Quarterly Activities Report for the period ending 31 March 2019.

Vango Mining has two main goals, focused on advancing its 100%‐owned Marymia Gold Project in the Mid‐West region of Western Australia, as follows:
I. To become a significant, stand‐alone, gold producer; and
II. To continue to grow its gold assets, in particular the high‐grade resource base.

These goals have been significantly advanced during the March Quarter (“the Quarter”), as detailed below. 

The location and geology of the Marymia Gold Project, and significant prospects are shown on Figure 1.



Subsequent to the quarter, Vango released a significant, new, high‐grade, JORC 2012 Mineral Resource Estimate (“Resource”) foritsflagship Trident gold deposit, at the Marymia Project(ASX announcement, 18 April 2019).   

The new Resource at Trident represents a significant upgrade to the previous JORC 2004 Mineral Resource at Trident (released 1 October 2014) and is a major milestone in Vango’s plans to develop Trident into a substantial, high‐grade, stand‐alone gold mining and processing operation. 

The new JORC 2012 Mineral Resource Estimate for the Trident gold deposit is; 

  • 1.6Mt @ 8.0 g/t Au for 410,000 oz of gold (at cut‐off grade of 3.0 g/t Au) including: 
    • Indicated Mineral Resource: 945,000t @ 9.4 g/t Au for 285,000 oz of gold, and 
    • Inferred Mineral Resource: 645,000t @ 6.0 g/t Au for 125,000 oz of gold 

The new Trident JORC 2012 Mineral Resource and JORC 2004 comparison is shown in Table 1. 

The Trident Resource was completed based on the results of 60 diamond and reverse circulation (RC), drillholes for a total of 11,465 metres. Trident has only been drill tested over a 1km strike length of the currently identified 5km strike extent of the Trident‐Marwest‐Mareast Gold Corridor, and remains open at depth. Vango views the Trident Resource as a platform on which to grow the Project’s high‐ grade gold resource base, and drilling is currently underway at other targets in the Trident‐Marwest‐ Mareast Corridor ‐ aimed at adding additional high‐grade gold resources to the Company’s inventory.


The Company’s activities during the quarter focused on     the completion of the Trident Resource definition and geotechnical drilling that allowed the Company to finalise and release the new, high‐ grade, Mineral Resource at Trident.

The geotechnical drilling tested the core of the Trident gold deposit and included exceptionally high‐ grade, gold intersections that confirmed the high‐grade gold resource model for the deposit (released post quarter, 8th April 2019):

- 11m @ 36.2 g/t Au from 213m incl. 2m @ 184 g/t Au in VTRGT0050 

- 3m @ 15.5 g/t Au from 226m incl. 1m @ 34.9 g/t Au in VTRGT0049 

- 5m @ 13.8 g/t Au from 155m incl. 1m @ 21 g/t Au & 1m @ 23.9 g/t Au in VTRGT0052

The Company’s drilling programmes have defined, extended and significantly upgraded the high‐grade Indicated Resources at the core of the Trident gold deposit, which will now underpin completion of mine planning for the Company’s proposed first stage of mining operations at the Marymia Gold Project.

The mine planning will be integrated with stand‐alone processing plant design and engineering studies to finalise a definitive feasibility study (DFS) for submission to the WA Dept. of Mines and Petroleum (DMP) for requisite approvals to facilitate the commencement of gold mining operations.

Figure 1: Marymia Gold Project geology, Trident gold deposit and Trident‐Marwest‐Mareast Corridor locatio 

Click here to view the full announcement


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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]


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]


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]


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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